Economic Action Plan 2012 is Good News for Ontario

April 16, 2021

Ottawa Journal (Ottawa Journal (April 16 - April 20, 2021)
David Tilson, MP

On March 29, 2012, Economic Action Plan 2012 was introduced to Canadians. It’s a Plan squarely focused on creating jobs, economic growth, and long-term prosperity. It also continues to keep taxes low, while returning Canada to balanced budgets over the medium term and includes many initiatives to benefit our province, which is good news for all Ontarians.

Investing in training, infrastructure, and opportunities is just one of many initiatives included in Economic Action Plan 2012 that will benefit Ontario. Since 2006, the Government has placed a strong emphasis on access to skills training, support for post-secondary education, building a fast and flexible economic immigration system, and developing untapped potential in the labour market. Economic Action Plan 2012 builds on this with an enhanced labour market focus and a number of targeted investments that will help respond to current labour market challenges and meet longer-term labour market needs. The Government will introduce measures to streamline processes and increase funding to better integrate certain under-represented groups in the labour force; including immigrants, persons with disabilities, youth, Aboriginal peoples, and older Canadians.

Economic Action Plan 2012 also proposes to extend the temporary Hiring Credit for Small Business for one year. A credit of up to $1,000 against a small employer’s increase in its 2012 EI premiums over those paid in 2011 would be provided. This temporary credit would be available to approximately 536,000 employers, whose total EI premiums were at or below $10,000 in 2011, reducing small business 2012 payroll costs by about $205 million.

Employment Insurance (EI) is Canada’s single largest labour market program, providing income replacement to help individuals and their families, as well as training and other labour market supports to help Canadians return to employment. Economic Action Plan 2012 makes a number of targeted changes to make EI a more efficient program that promotes job creation, removes disincentives to work, supports unemployed Canadians, and quickly connects people to jobs to improve their quality of life and Canada’s economy.

Economic Action Plan 2012 aims to strengthen Canada’s public infrastructure. The new long-term plan for public infrastructure, which will extend beyond the expiry of the Building Canada plan, will benefit all regions across the country. The Government is working with provinces, territories, the Federation of Canadian Municipalities, and other stakeholders to explore broad directions and priorities for a new plan. Over the next two years, the Government will spend nearly $12 billion to support provincial, territorial, and municipal infrastructure through existing initiatives.

Economic Action Plan 2012 proposes $150 million over two years to the Regional Development Agencies for a Community Infrastructure Improvement Fund to support repairs and improvements to existing small public infrastructure facilities, including community centres, on a cost-shared basis in partnership with municipalities, community organizations, and not-for-profit entities.

Through Economic Action Plan 2012, Ontario will continue to receive significant support through major federal transfers in 2012-13. Federal support to provinces and territories will reach an all-time high of $59 billion, which is $3 billion more than last year. Total amounts for each major transfer will see year-over-year growth again in 2012-13. For Ontario, major transfers will total almost $19.3 billion in 2012-13. This long-term, growing support helps ensure that Ontario has the resources required to provide essential public services and contributes to shared national objectives, including health care, post-secondary education, and other key components of Canada’s social programs.

In Economic Action Plan 2012, our Government is looking ahead not only over the next few years, but also for the next generation. We are doing this through targeted initiatives which benefit the territories and provinces, including Ontario, by creating jobs, economic growth, and long-term prosperity.