June 6 – Government of Canada Reintroduces 2nd Phase of Canada’s Action Plan
From the PMO – Ottawa, June 6, 2011
The Honourable Jim Flaherty, Minister of Finance, today reintroduced Budget 2011, the Next Phase of Canada’s Economic Action Plan—A Low-Tax Plan for Jobs and Growth.
“Implementing the Next Phase of Canada’s Economic Action Plan will preserve Canada’s advantage in the global economy; strengthen the financial security of Canadian workers, seniors and families; and provide the stability necessary to secure our recovery in an uncertain world,” said Minister Flaherty.
On March 22, 2011, the Government tabled Budget 2011, the Next Phase of Canada’s Economic Action Plan—A Low-Tax Plan for Jobs and Growth, in the House of Commons. However, that budget was not adopted prior to the dissolution of Parliament on March 26, 2011.
“On Election Day, Canadians expressed their support for the Government’s economic record and its plan to ensure Canada remains at the forefront of economic growth and job creation,” said Minister Flaherty.
As a result, this budget includes all of the measures that were part of the March 22nd budget. In addition, in this budget:
- Provision has been made in 2011–12 for $2.2 billion in support of the conclusion of a satisfactory agreement between Canada and Quebec on sales tax harmonization, consistent with the Government’s commitment in this regard.
- The Government is announcing the phase-out of quarterly allowances for political parties.
Building on the sustainable, low-tax environment and growth-friendly policies put in place since 2006, the Next Phase of Canada’s Economic Action Plan will focus on supporting job creation, supporting families and communities, investing in innovation, education and training, and preserving Canada’s fiscal advantage.
For full details, including clarification of changes versus the Budget introduced in March 2011, go to http://www.budget.gc.ca/2011/home-accueil-eng.html.
