Federal budget aims to support jobs and growth
By Ground Water Canada
By Ground Water Canada
April 22, 2015, Ottawa – Canada's 2015 budget supports jobs and growth
by allowing job-creating businesses to thrive, making investments in
infrastructure and training a highly skilled workforce that meets
employers' needs, the federal government said in a news release.
April 22, 2015, Ottawa – Canada's 2015 budget supports jobs and growth by allowing job-creating businesses to thrive, making investments in infrastructure and training a highly skilled workforce that meets employers' needs, the federal government said in a news release.
The 2015 Economic Action Plan contains several measures aimed at supporting jobs and growth:
- Reducing the small business tax rate to 9 per cent by
2019—putting an estimated $2.7 billion back into the pockets of
job-creating small businesses and their owners between now and 2019–20.
- Providing manufacturers with a 10-year accelerated capital cost
allowance to encourage productivity-enhancing investment in machinery
- Increasing the Lifetime Capital Gains Exemption to $1 million for owners of farm and fishing businesses.
- Improving access to financing for Canadian small businesses through the Canada Small Business Financing Program.
- Expanding the services offered through the Business Development
Bank of Canada and Export Development Canada to help small and
- Providing $14 million over two years to Futurpreneur Canada in support of young entrepreneurs.
- Supporting the Action Plan for Women Entrepreneurs to help women business owners succeed.
- Helping innovative companies grow and create jobs through the Venture Capital Action Plan.
- Supporting provinces and territories to facilitate the
harmonization of apprenticeship training and certification requirements
in targeted Red Seal trades.
- Investing in world-class research and development by providing
over $1.5 billion in funding over five years to advance the
Government’s renewed science, technology and innovation strategy.
- Continuing to provide $5.35 billion per year on average for
provincial, territorial and municipal infrastructure under the New
Building Canada Plan.
- Investing $750 million over two years starting in 2017–18, and $1
billion per year thereafter, for a new Public Transit Fund aimed at
building new public transit infrastructure to reduce congestion and
fight gridlock in large cities.