Budget Addresses Leeds-Grenville Concerns

February 26, 2008

Ottawa – Gord Brown, Member of Parliament for Leeds-Grenville says the riding’s priorities are addressed in Finance Minister Jim Flaherty’s latest budget.

Amid a budget that talks about responsible spending and sustainable spending, Leeds-Grenville fares well.

“I am particularly pleased that many of the issues that people have spoken to us about over the past years are addressed in this budget,” says Brown.

The biggest news in the budget is a new Tax Free Savings Account which will allow anyone over the age of 18 the ability to save up to $5,000 per year in a tax free savings account for upcoming large purchases such as buying a car or purchasing or repairing a home. The money can be withdrawn at any time tax free and replaced if the cash later become available.

“This is an innovative way to encourage and help and people to save,” Brown says.

Locally there are a number in initiatives in the budget that will assist.

First is $2 million over two years to support the Canadian Biosphere Reserve Association.

“We have a major Biosphere Reserve in our riding made up of folks who have been volunteering their services for a number of years. This money will help their national association and aid them in their administrative and policy work,” says Brown. “It is a shot in the arm they need and I am pleased that the Environment Minister, during his visit to the riding, heard their voice. I have continued to be a champion of this issue with both the Environment Minister and the Finance Minister.”

The budget also earmarks $12 million over two years to enhance environmental law enforcement in Canada’s National Parks.

The riding’s two border crossings and issues that arise for travelers and commercial enterprises are being addressed with a number of initiatives including $75 million over the next two years to address operational issues at Canadian border crossings and $14 million to expand the joint Canada-United States NEXUS program for low-risk travelers.

Farmers will see additional support through better access to $3.3 billion to cope with extraordinary pressures in the livestock sector and $50 million to help the hog sector adjust to new market realities.

Canada will soon introduce a new, electronic passport and will extent its validity to 10 years.

The budget provides further assistance for Canada’s manufacturing and processing sector by extending the accelerated capital cost allowance treatment for investment in machinery and equipment for three years.

It removes disincentives to work for seniors by raising the current Guaranteed Income Supplement earned income exemption to $3,500 from $500.

Canadian students will see a new Canada Student Grant Program with a $350 million investment in 2009-2010, rising to $430 million in 2012-13. As well, the Registered Education Savings Plan can remain open for 35 years instead of just 25 years and the maximum contribution period will be extended by 10 years.

There is also encouraging news for the St. Lawrence River and Great Lakes corridor.

First, the government is providing $15 million over two years to establish a permanent facility to enhance the security of the Great Lakes / St. Lawrence Seaway area.

As well, the budget sets aside $24 million over two years to establish infrastructure for cruise ships.

“I will be making representations to the minister as they develop the framework for this initiative to ensure that Leeds-Grenville and our neighboring areas receive some of this money,” explains Brown.

Cruise ships already stop at the Port of Prescott, he notes, as there are many attractions in the area that are easily accessible from the port.

Other budget highlights include:

• Making the Gas Tax Refund – a federal government infrastructure grant to municipalities – a permanent measure.
• Providing $90 million to extend to 2012 the targeted initiative for older workers.
• Dedicating $282 million over this and the next two years to expand the Veterans Independence program to support the survivors of veterans.
• Reducing the availability of contraband tobacco products through new tax compliance and enforcement measures.
• Setting aside $400 million for Police Officer Recruitment.
• Facilitating compliance by waiving fees for firearms licence renewal until May 2009.
  

Along with this good news for Leeds-Grenville the budget addresses the auto industry, the vulnerable, the north, the environment and our international commitments.

“It is important to note that with previous budget announcements combined with this new budget, the government is injecting $21 billion of stimulus into the Canadian economy,” notes Brown, “including $2.9 billion in retroactive personal tax relief that was announced last fall.”

Complete budget information is available at www.fin.gc.ca.