January 27, 2009
Warawa Praises Canada’s Economic Action Plan
“While Canada is coping with a global economic downturn, our plan will ensure we emerge even stronger as the economy recovers,” said Langley Member of Parliament, Mark Warawa. “The targeted and temporary measures will build on Canada’s long-term strengths, while helping address short-term challenges.”
The plan will provide $ 34 billion in support for the next fiscal year, equivalent to 1.9% of our GDP, to the Canadian economy this year. British Columbia will especially benefit from the plan through:
Action to Build Infrastructure by providing British Columbia with its share of $4.5 billion over two years for infrastructure projects such as road, water and sewer system upgrades across the province. It also accelerates payments up to $75 million over two years for additional infrastructure projects.
Action to Reduce Taxes and Freeze EI Rates by providing the people and businesses of British Columbia with tax relief of $3 billion over the next five years and providing billions to keep EI rates low for 2009-10.
Action to Stimulate Housing Construction by providing billions to build quality social housing, stimulate construction and enhance energy efficiency. The new renovation tax credit will provide up to $1,350 per homeowner, which will benefit British Columbia homeowners by up to $419.2 million over two years.
Action to Improve Access to Financing for businesses to obtain the resources they need to invest, grow and create new jobs and give consumers the adequate financing they need.
Action to Help Canadians Hit Hardest by the Economic Downturn including enhancements to Employment Insurance and more funding for skills and training. Last week Warawa announced $4.38 million in Langley to help 13,000 Fraser Valley residents return to work.
