WEB ONLY: Chong says budget will help Ontario in many different ways

Last week the Conservative government tabled - Canada’s economic action plan to stimulate the econ­omy and protect the coun­try during the current global recession.

“While Canada is coping with a global economic down­turn better than most indus­trialized countries, our govern­ment has tabled a plan to help Canadians through this down­turn,” said Wellington-Halton Hills MP Michael Chong. “These targeted measures will build on Canada’s long-term strengths, while helping add­ress short-term challenges. Even with the projected defi­cits, Canada will still be well ahead of other OECD countries in terms of our debt to [gross domestic product] ratio.”

The plan will provide al­most $30-billion in support, equivalent to 1.9% of GDP, to the Canadian economy this year. Wellington County will es­­pecially benefit with plans 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.

- reduce taxes and freeze Employment Insurance 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 Employ­ment Insurance rates low for 2009-10.

- 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.

- improve access to finan­cing for businesses to obtain resources they need to invest, grow, and create new jobs and give consumers the adequate financing they need.

- 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.

Chong said Ontario will also benefit from specific initi­atives including more than $1-billion over five years for a Southern Ontario Development Agency program to help work­ers, communities and business in the region; $50-million to the Institute for Quantum Com­puting in Waterloo for the con­struction of a new world-class research facility; an additional $407-million to VIA Rail Can­ada to support improvements to the Quebec City to Windsor corridor; and a share of $2-billion to support deferred main­tenance and repair pro­jects at post-secondary institu­tions.

Chong added that in addition to those 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 provision made by the former Liberal government.

In addition, 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 on which families depend.

“With this plan, Canada will emerge from this global reces­sion with better infrastructure, a more skilled labour force, lower taxes, and a more com­petitive economy,” said Chong.  “We are listening to Canadians. This is the plan Canadians wanted, and this is the plan that will help Canadians through this downturn.”