Compilation of ideas from Constituents.

Canada’s Economic Performance “Where we have been”  Balanced Budgets  Reduced national debt by $37 billion – Tax Back Guarantee returns the interest saved by lowering taxes  The average family through tax and the child benefit save on average $3,600 a year  Cut taxes to hardworking Canadians this year by $31 billion, equal to 2% of GDP  Cut taxes by $50 billion to small businesses and corporations, over the previous and next five years  Canada has the strongest economic performance of any country in the G7  Strong financial institutions unlike those in the U.S.

Specific Measures  Lowered the GST from 7% to 5%  Lowered personal income tax rates  Created the Tax Free Savings Account  25% reduction in the minimum required withdrawal from RRIF  Increased the number of years RESP can be contributed to and kept open  Created the Registered Disability Savings Plan  Universal Childcare Benefit $1200/year

Specific Measures – continued  Tax credits for fitness, apprentices and tools  Cut small business tax rate from 13% to 11%  Reduced corporate tax rate from 22.5% to 19.5% to 15% by 2012  Capital cost allowances write off for manufacturers  $75 billion in liquidity to financial markets  Expanded availability of scientific and research development program  $3 billion to the BDC & EDC

Where we are?  We’re facing a global economic downturn that originated outside our borders – primarily in the U.S  Canada has been, and will be, negatively affected  Our economy will contract, businesses will close, jobs will be lost. This is a recession.  While we cannot fix the global economy ourselves, the federal government has and will continue to take steps to help boost Canada's economy

What is economic stimulus?  Government itself cannot ‘fix’ the economy, but can encourage new job and investment support  Fiscal stimulus can take many forms from tax reductions and government spending  It should boost the economy when needed, not when it has already recovered  An effective stimulus should also balance our short term needs with our long term goals of improved productivity through education, skills development, innovation and technology

What isn’t economic stimulus?  Wasteful government spending on ineffective programs or larger bureaucracies does not stimulate the economy  Higher taxes will not help stimulate the economy

What are we doing?  On January 27 th, your Government will deliver the earliest federal budget in history. This unprecedented step is in direct response to the current downturn  As we prepare the budget, our government is consulting widely across the country with: provinces and the territories opposition parties business and labour groups Canadians like you

What are we hearing?  Budget 2009 must not result in a structural deficit  Investing in housing  Supporting workers and sectors affected by the declining economy  Improving access to credit  Measures should be timely, have maximum impact for Canadians, be flexible in size and duration and be consistent with our long-term economic goals  Work with the new U.S. administration

Invest in and Expedite Infrastructure Projects  Windsor – Detroit Border Crossing;  High speed rail initiative;  Charing Cross Road / Hwy 401 interchange. Benefits:  Stimulate the economy and business in the area.  Provide employment during such undertakings.

Tax Breaks  Write off interest on loans, family cars, business cars & trucks and principle home mortgages. Create a Canada Economy Fund for lost tax revenue. Any private or business person can donate to this fund and receive double write off for every dollar donated, the deadline would be February 28 th.

The Housing Market  Create rental subsidies according to income.  When buying or selling have 3% interest on mortgages and possible write off of interest.

Employment Insurance (EI)  Discard the 2 week waiting period.  Extend benefits. Income Splitting for Everyone  Stay at home parents do not have an income, but have a very important role.

What’s your view?