Budget 2010: Leading the Way on Jobs and Growth

March 05, 2010

Bridgewater, NS - The Conservative Government has launched an ambitious new federal budget focused on job creation and growth to support Canada’s economic recovery. The budget also included a disciplined long-term plan to return to balanced budgets.

“Our Government presented a jobs and growth budget,” said Gerald Keddy, Member of Parliament for South Shore – St. Margaret’s. “We are completing Year Two of our Economic Action Plan to create and protect jobs now. We are also taking new, targeted measures to fuel new jobs in the future. Our forward-looking action will secure Canada’s economic growth for today and tomorrow.”


Budget 2010 highlights three key objectives:

First, it confirms $19 billion in new federal stimulus under Year 2 of Canada’s Economic Action Plan to create and protect jobs. This includes projects in Nova Scotia such as $175 million to help renew Marine Atlantic’s fleet and shore facilities, as well as $28 million to support the operations of ferry services in Atlantic Canada, including the routes between Saint John and Digby and Wood Islands, Prince Edward Island and Caribou.

This budget is also protecting employment in Canada’s harvesting and fish processing sectors, with a $7.2-million over two years investment in a new Catch Certification Office. Through this office, the Department of Fisheries and Oceans will issue to exporters certificates required to meet new European Union export requirements. This will ensure that the Canadian seafood industry remains competitive.

Communities and businesses in Nova Scotia will benefit from the $19-million per year in ongoing funding for the Atlantic Canada Opportunities Agency (ACOA) to support regional growth and innovation through the Atlantic Innovation Fund and the Innovative Communities Fund.

Second, Budget 2010 invests in a limited number of new, targeted initiatives to build jobs and growth for the economy of tomorrow, harness Canadian innovation, and make Canada a destination of choice for new business investment.

Third, it outlines a three-point plan for returning to budget balance once the economy has recovered. This includes ending the temporary stimulus measures as promised, restraining growth in spending through targeted measures and additional restraint through an in-depth review of government’s administrative functions and overhead costs.

“Unlike the other political parties in Ottawa, our Government has been clear that it will not raise taxes or reduce transfer payments to provinces like Nova Scotia,” said MP Keddy.

In fact, Budget 2010 confirmed the Conservative Government’s strong support for provinces.

Nova Scotia will continue to receive increased federal support through Budget 2010. Total transfers will hit $2.9 billion in 2010-11, an increase of $574 million from under the old Liberal government.

While the Liberals starved provinces and municipalities of much-needed support, the Conservative Government increased key transfers such as $1.1 billion through Equalization; $227 million in payments related to the 1986 and 2005 Offshore Accords; $725 million through the Canada Health Transfer, an increase of $25 million from last year; and $308 million in social transfers, an increase of over $42 million (15.8 per cent) since 2005-06.

This long-term support helps ensure Nova Scotia has the resources needed to provide essential public services including health care, post-secondary education and other social services.

For more information and how Canada’s Economic Plan benefits them, people are encouraged to visit www.budget.gc.ca.