Budget 2010: Leading the Way on Jobs and Growth

March 09, 2010

OTTAWA, ON – Randy Kamp, MP for Pitt Meadows—Maple Ridge—Mission, spoke about the benefits that Budget 2010 will bring to British Columbia when he delivered a speech in the House of Commons on Tuesday.

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 MP Kamp. “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.”

The budget 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. For example, the Action Plan invests in upgrades and expansion of the solid waste management, and water and wastewater infrastructure in the City of Vancouver, and delivers funds to the Tourism Discovery Conference Centre in the City of Williams Lake.

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. B.C. will benefit from the $222 million to be provided over the next five years to strengthen the world leading research taking place at TRIUMF, Canada’s premier national laboratory for nuclear and particle physics research, which is located at the University of British Columbia.

Third, it outlined 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.

The Conservative Government has been clear that it will not raise taxes on Canadians, or reduce transfers to provinces. In fact, Budget 2010 confirmed the Conservative Government’s strong support for provinces.

British Columbia will continue to receive increased federal support through Budget 2010. Total transfers will hit $6.3 billion in 2010-11, an increase of $1.3 billion since 2005-06.

While the Liberals starved provinces and municipalities of much-needed support, the Conservative Government increased key transfers such as $3.6-billion through the Canada Health Transfer, an increase of $231 million from last year; and $1.5 billion in social transfers, an increase of over $34 million since 2005-06.

For British Columbia, this payment represents an increase of $294 million since
2005-06 – an increase of 24.7 per cent. This long-term support helps ensure British Columbia has the resources needed to provide essential public services including health care, post-secondary education and other social services.

“Budget 2010 presents a budget plan that builds on Canada’s economic recovery with action to create jobs and stimulate growth, sustains our country’s economic advantages and charts the way forward to budget balance,” concluded Kamp.

To find out how Canada’s Economic Action Plan and Budget 2010 will benefit them, people are encouraged to visit www.budget.gc.ca