I am pleased to be here today as the Member of Parliament for Leeds Grenville to help honor not only the winner of this competition but all those who participated, those who judged, and those who originated the idea.

Small business and entrepreneurship are the backbones of our economy. They are the engines that make Canada grow and prosper.

Canada’s New Government recognizes the importance of all of you in Canada’s well-being and our ability to move forward.

Last year the finance minister, the Honourable Jim Flaherty, introduced Advantage Canada - a financial plan for the country to take us into the future.

That plan has a strong business component.

He carried on with that theme in the recent budget which included a keen focus on small businesses and entrepreneurs.

I am not here today to give a long speech but I would like to hit some of the highlights in two minutes or less.

We are increasing the lifetime capital gains exemption for small businesses from $500,000 to $750,000.

Tax reductions which will lower Canada’s tax rate on new business investment.

A special 50 per cent straight line capital investment write-off for manufacturing and processing businesses from March 19 2007 to December 31, 2008.

Increasing the capital cost allowance rate from 4 to 10 per cent for buildings used in manufacturing and processing.

We are committed to reducing the federal paper burden on small business by 20 per cent by November 2008.

Reducing tax compliance by decreasing the frequency of remittance and filing requirements.

Appointing an independent panel to review Canada’s competition policy.

Working with provinces to promote better trade, investment and labor mobility across provincial boundaries.

The finance minister and the government are committed to ensuring Canada’s entrepreneurs have the best
advantages in the world.

Thank you again for inviting me to be here today and congratulations to everyone.