(Newmarket-Aurora, ON – January 27, 2009) -  Newmarket-Aurora MP Lois Brown says the Conservative government tabled Budget 2009 - Canada’s Economic Action Plan – will provide a much needed boost to local residents and businesses.

“While Canada is coping with a global economic downturn, our plan will ensure we emerge even stronger as the economy recovers,” said Ms. Brown. “Canada’s Economic Action Plan’s targeted and temporary measures will build on Canada’s long-term strengths, while helping address short-term challenges.”

The plan will provide almost $30 billion in support, equivalent to 1.9% of GDP, to the Canadian economy this year. Ontario will especially benefit from the plan, through:

Action to Build Infrastructure by providing Ontario 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 Ontario with tax relief of $9.1 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 Ontario homeowners by up to $1.3 billion 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.

Support for Businesses and Communities by protecting jobs and supporting sectoral adjustments during this extraordinary crisis with $7.5 billion in extra support for sectors, regions and communities such as the forestry and manufacturing sectors.
 
In addition to these measures, Ontario will continue to receive historically high and growing federal transfers in 2009-10 that will total $15.8 billion - an increase of $1.5 billion from last year and a $4.3 billion increase over the former Liberal government. What’s more, Ontario will see growing health ($9.6 billion) and social ($4.2 billion) transfers to help the province pay for vital health care, educational and social services families depended on.

Ms. Brown was pleased to see many of the suggestions she received during her Pre-Budget Consultations were included in Canada’s Economic Action Plan. “Residents and businesses alike were looking for help,” said Lois Brown. “Many of them took the time to provide their suggestions and opinions which I had forwarded to the Minister of Finance. I am very pleased to say that many, if not most, of these suggestions were included. This is good news for small business owners, seniors, families, young people and large employers in Newmarket and Aurora. I will be working diligently with all levels of government in the weeks ahead to ensure our community participates to the fullest extent possible in these available measures.”

“The Government has listened to the concerns of Canadians. Budget 2009 - Canada’s Economic Action Plan - includes the top six suggestions for stimulating our economy suggested from people in Newmarket and Aurora,” added Lois Brown. “Residents wanted reduced taxes, access to credit, spending on infrastructure, investments in ‘green’ and high-tech jobs, improved Employment Insurance and worker training programs and a stimulated housing sector. I am confident that with measures targeted towards these and other areas, our economy will get back on track and that jobs will be maintained and created in Newmarket and Aurora.”

Click here to download the Backgrounder with additional information in PDF.