Budget 2014: Staying Focused on Jobs & Growth

February 17, 2021

Our Government recently introduced Economic Action Plan 2014 – the next step in our plan for job creation and economic growth.

Canada’s recovery from the recent global recession has been among the strongest in the world with over 1 million more Canadians now working than at the worst of the recession – the best job creation record among all G-7 countries, including Germany.

However, we all know there is still more to do. Too many Canadians are still looking for work and the global economic recovery remains fragile at best, especially in Europe and the United States.

This why our Government is staying squarely focused on the economy. We’re moving forward with a positive plan that will help create jobs and grow our economy, all while keeping taxes low and remaining on track for balanced budgets in 2015.

Since 2006, our Government has been keeping Canada on the right path for economic growth. This includes lowering taxes over 160 times, which will save the average Canadian family nearly $3,400 on their tax bill in 2014. We’ve also cut taxes for job-creating businesses, allowing them to hire more workers, and have opened up new markets for Canadian goods and services, most recently through the historic Canada-European Union Trade Agreement.

To help Canadians get the skills and training they need to succeed, our Plan also moves forward with the Canada Job Grant to connect people looking for work directly with in-demand jobs. We’re also introducing the Canada Apprentice Loan to give access to student loans to apprentices for the first time ever.

Several initiatives in Economic Action Plan 2014 will benefit Ontario including: supporting Canada's entrepreneurs (by providing an additional $40 million to the Canada Accelerator and Incubator Program to help entrepreneurs across the country create new companies and realize the potential of their ideas); increasing competition in the telecommunications market (by capping wholesale domestic wireless roaming rates, creating more competition in the wireless market and benefiting consumers); and improving access to broadband in rural and northern communities (by providing $305 million to extend and enhance access to high-speed broadband networks for up to an additional 280,000 Canadian households).

Equally important, our Plan keeps Canada on track to balance the budget in 2015. From Greece to Detroit, we’ve seen the consequences of governments that don’t focus on putting their fiscal house in order. Balanced budgets do more than signal stability and make Canada a more attractive place to invest, they also keep taxes low and ensure our children and grandchildren aren’t saddled with our debt.

However, unlike the previous government, we are not balancing the budget by cutting transfers to the provinces for health care or education. In fact, under our Government those transfers are at all-time highs. Instead, we’re making government programs more efficient – cutting waste and ensuring every taxpayer dollar spent is spent is as useful as possible.

While the opposition parties don’t agree with getting back to balanced budgets, instead pushing big risky spending schemes and new taxes that will take more out of your pockets, our Government will stick to its proven low-tax plan for job creation and economic growth.

For more information on Economic Action Plan 2014 and how it can benefit you, I encourage you to visit www.actionplan.gc.ca