Keddy applauds economic action plan in Budget 2009

January 27, 2009

Ottawa, ON (January 27, 2009) – Today the Conservative government tabled Budget 2009 – Canada’s Economic Action Plan – a bold multi-year approach to stimulate the economy and protect the country during the current global recession.

“Our economic plan will ensure the people of South Shore – St. Margaret’s are able to weather the economic downturn,” said Gerald Keddy. “The targeted measures announced today will provide relief and assistance to many Canadians during this challenging time.”

The economic plan provides support to all areas of the riding, including assistance for the forestry, fishery, agriculture, automotive and manufacturing sectors, as well as providing funds for important infrastructure projects and small craft harbours. The plan provides assistance to low- and middle-income families, seniors, home-owners and the unemployed.

“The scope of this government’s economic plan is huge,” said Keddy. “Not only are we providing much needed funding, we are creating jobs and protecting those hit hardest by the economic slowdown.”

Canadian employers and employees will continue to benefit from one of the lowest payroll tax rates in the world. Employment Insurance (EI) rates will be frozen through 2010 thanks to a $4.5 billion injection. Self-employed Canadians will have access to EI maternity and parental benefits.

Homeowners will now be eligible to receive the Home Renovation Tax Credit (HRTC), a temporary 15% income tax credit on eligible home renovation expenditures.

“Every Canadian can look at this economic plan and find a measure that directly benefits them,” said Keddy.

The Conservative government is providing Nova Scotia with its share of $4.5 billion over two years for infrastructure projects such as road, water and sewer system upgrades. Half a billion dollars has been allocated to create Recreational Infrastructure Canada to support construction of new community recreational facilities as well as upgrading existing facilities.

Infrastructure projects in small communities will receive $500 million dollars over the next two years. The plan allocates $1 billion in accelerated payments to expedite “ready-to-go” infrastructure projects. Post-secondary institutions will receive $2 billion to support maintenance and repair. Rural residents will benefit from $225 million to develop and implement a strategy on improving broadband coverage to extend and upgrade internet service to underserved communities.

“Residents of the South Shore will emerge from this global recession with improved infrastructure, a better-trained workforce, lower taxes and a more competitive economy,” said Keddy. “This economic action plan will create and maintain jobs, and give all of our residents a better tomorrow.”