THE GOVERNMENT OF CANADA RELEASES BUDGET 2010

BRANDON, March 5, 2010 – The Minister of Finance the Honourable Jim Flaherty tabled a focused and prudent budget to strengthen Canada amidst global economic uncertainty.  Budget 2010 focuses on completing Canada’s Economic Action Plan, planning for post recession recovery, returning to fiscal balance and building the jobs and industries of the future.

"Our Government is tackling the challenge of global economic uncertainty with a plan that is real, a plan that is responsible, a plan that is working," said Tweed. "Our Government has shown leadership and commitment to follow through on our Economic Action Plan, while at the same time taking steps to return to fiscal balance as soon as possible.”

Budget 2010 demonstrates responsible leadership by:

• Not raising taxes and enhancing Employment Insurance benefits: An additional 5 weeks of EI benefits and EI benefits for self employed Canadians.  

• Continuing with infrastructure spending to put Canadians to work today while laying the foundation for future prosperity: Implementing $19-Billion in new stimulus to create jobs now.  

§  Building the Jobs and Industries of the Future: Continuing to build a skilled and educated workforce by investing $600 Million in education, training and Research and Development.

§  Creating the conditions for economic growth through: Low taxes and a stable investment climate.  The Government will ensure it is helping – not hurting Canada’s ability to grow, innovate and prosper.

§  Standing up for the people that helped build Canada: By strengthening Canada’s retirement income system and supporting legislation to establish Seniors Day, adding 10 Million in funding for the New Horizons for Seniors program, and continuing to stand up for our Military and our Veterans.

§  Agriculture: Providing $75 million from the AgriFlexibility Fund to ensure Canadian cattle producers continue to have access to competitive processing operations in Canada.  The Slaughter Improvement Program will be increased by $10 Million and an additional $25 Million targeted to processing plants that handle cattle over 30 months in age.  As well a $40 Million investment to support the development and commercialization of innovative technologies.  57.1 Million will be provided to support operations of the Canadian Grain Commission to address evolving needs of the sector.