Bayshore Broadcasting Corporation

 there are SCHOOL BUS CANCELLATIONS   Bus Reports  ... there are weather related cancellations in our area .... Cancellations

News Centre

News Centre


Tuesday, March 22, 2016

Liberal Budget Highlights

Ottawa | by Bayshore News Staff  

Trudeau government's maiden budget projects $29.4-billion deficit in 2016.

Finance Minister Bill Morneau released the Trudeau government's budget on Tuesday, and it contains a massive $29.4-billion deficit. 

Minister of Finance, Bill Morneau, released the Trudeau government's first federal budget on Tuesday.
  
The financial blueprint contains a deficit of $29.4-billion in 2016-17, nearly three times the $10 billion promised during the election campaign, and a projected deficit of $17.7-billion in 2019-20 rather than the balanced budget that was promised in October.

BUDGET HIGHLIGHTS:

-- $10-billion more over two years for a new Canada child benefit, absorbing and replacing both the Canada child tax benefit and the universal child care benefit. It's targeted to low and middle-income families, and the government says the new benefit provides an average increase of nearly $2,300 in 2016-17.
   
-- $2.5-billion will be spent on changes to employment insurance, including reducing the required work experience for new entrants and re-entrants; halving the two-week waiting period; extending a pilot project to allow claimants to work while collecting benefits; simplifying job-search requirements; and extending the benefit eligibility window in specific regions with a higher unemployment rate.

-- Income splitting will be ended for couples with children, the children's fitness tax credit and the children's arts tax credit.

-- A promised cut to the 10.5 per cent small business tax rate has been deferred.

-- $2.6-billion over five-years for primary and secondary education on First Nations reserves, including language and cultural programs, plus $969.4-million over five-years for education infrastructure.
   
-- $1.2-billion over five-years for social infrastructure for Aboriginal Peoples, including First Nations, Inuit and northern communities.

-- $10.4-million over three-years for new women's shelters in First Nations communities, and $33.6-million over five-years and $8.3-million ongoing for support services.

-- $5.6-billion more in benefits to veterans and their families over five years, including a disability award that increases to $360,000, retroactive to 2006, and an earnings loss benefit to injured vets of 90 per cent of pre-release salary. The government is also re-opening nine veterans' service offices across the country and adding a 10th.

-- Planned National Defence purchases worth $3.7-billion -- ships, planes and vehicles -- are being deferred indefinitely.
 
-- $1.53-billion over five-years to increase Canada student grants to $3,000 from $2,000 for low-income students, to $1,200 from $800 for middle-income students and to $1,800 from $1,200 for part-time students.
   
-- $3.4-billion over five-years to increase the guaranteed income supplement top-up benefit by up to $947 annually for single seniors, and restore old age security eligibility age to 65 from 67.

-- $2.2-billion over five-years in water and wastewater treatment and waste management as part of a 10-year green infrastructure investment plan.
   
-- $1.9-billion over five years to support Canadian arts and culture organizations and cultural infrastructure, including the CBC and national museums.

-- $2-billion over three-years for a new strategic investment fund for infrastructure improvements at colleges and universities, in partnership with provinces and territories.
 
-- $2-billion over two-years for a low-carbon economy fund, beginning in 2017-18.
 
-- More than $1-billion over four-years to support future clean technology investments, including in forestry, fisheries, mining, energy and agriculture, plus $130-million over five-years to support clean technology research and development.

-- $345.3-million over five-years to Environment and Climate Change Canada, Health Canada and the National Research Council to take action to address air pollution.
   
-- $40-million over two-years for the inquiry into missing and murdered aboriginal women and girls.

-- Up to $178-million over two-years for the provinces for urgent affordable housing.

-- $38.5-million over two-years to strengthen/modernize Canada's food safety system.

-- $142.3-million over five-years to add new national parks and improve access during the 150th anniversary of Confederation.
 

 

 


Bayshore Broadcasting Corporation
© 2017 Bayshore Broadcasting Corporation

Web Site by Websmart Inc