Ottawa, ON — March 2, 2018 — The Government of Canada tabled its third federal budget titled, “Equality Growth: A Strong Middle Class”, on February 27th– a budget that recognizes the need to invest wisely in strengthening the middle class and growing the economy.
Easter stated: “Last fall, the Finance Committee, of which I serve as Chair, selected the theme of productivity and competitiveness for our Pre-Budget Consultations, believing that more productive people and more productive and competitive businesses can lead to enhanced growth and prosperity.”
“The pre-budget consultation process is a very important part of the Committee’s work, and Committee members are always impressed by the thoughtful and innovative proposals put forward by Canadians as potential budget measures. I am pleased to see many of these priorities reflected in the Budget which reinforces the Government’s message that Budget 2018 is built by, and for, all Canadians
- Increase of $37.4 million from the previous year to PEI in Equalization, Canada Health Transfer and the Canada Social Transfer, to total $638 million in 2018-2019.
- Introduction of the Canada Workers benefit – a more generous replacement for the Working Income Tax Benefit and a program that better responds to the real needs of Canadian workers.
- Establishment of an Advisory Council on the Implementation of National Pharmacare. This is a strong indication that the Government intends to implement a National Pharmacare program.
- Investment of $250 million on a cash basis over two years to Fisheries and Oceans Canada to renew its network of small craft harbours and an investment of $21. 6 million over two years to renew its Sustainable Aquaculture Program in support of an improved regulatory system.
- Additional $48 million allocated to the Atlantic Opportunities Agency (ACOA).
- Increase in funding to the Rental Construction Financing Initiative that will help to build 14,000 new rental units across the country, building on the Government’s National Housing Strategy which will create 100,000 new housing units and repair 300,000 housing units.
- Making available up to $74.75 million over five years, starting in 2018–19, based on a 60:40 federal to provincial and industry cost-sharing basis, to protect the forest industry by preventing the spread of spruce budworm.
- The single largest investment in fundamental research in Canadian history to support the next generation of Canadian researchers through Canada’s granting councils and research institutes. This includes over $1.3 billion over five years for investments in the laboratories, equipment and infrastructure researchers rely on every day.
- Support for women entrepreneurs in agriculture through the creation and launch of a new lending product in 2018–19 through Farm Credit Canada. Farm Credit Canada will continue to offer advisory services, learning events and knowledge initiatives aimed at women entrepreneurs in the agriculture and agri-food sectors.
- Support for seasonal workers who have exhausted their EI benefits by providing $80 million in 2018-19 and $150 million in 2019-20 through Labour Market Development Agreements to co-develop and test local solutions to support workforce development and address, for the long-term, the “blackhole” in EI benefits.
“All of these measures will have a direct impact on the health, wellbeing and prosperity of Islanders and build on previous key measures including a strengthened Canada Child Benefit, support for home care, mental health, and early learning and child care.”Wayne Easter, P.C., M.P.MP Malpeque
“Budget 2018 takes the next steps towards building an equal, competitive, sustainable, and fair Canada—where science, curiosity, and innovation spur economic growth.”Wayne Easter, P.C., M.P.MP Malpeque