Ottawa, ON– Dave MacKenzie, Member of Parliament for Oxford, is welcoming the Harper Government’s Economic Action Plan 2015. It will support jobs and growth in Oxford, help our families and communities prosper and ensure the security of all Canadians.
“We have kept our promise to Canadians by balancing the budget in 2015, the first balanced budget since the Great Recession, said MP MacKenzie. Under our leadership, Canada has created over 1.2 million new jobs since the recession, but we live in uncertain times and the global economy remains fragile. That’s why Economic Action Plan 2015 will continue our Government’s focus on creating more jobs and growing the economy in Oxford and across the country.”
Economic Action Plan 2015 includes key measures to support families in Oxford and the Ontario economy, including:
- Cutting Tax for Small Business: Economic Action Plan 2015 proposes to further reduce the small business tax rate down to 9% by 2019. Due to measures taken since we formed government, we have reduced taxes for small businesses by almost 50%.
- Supporting Families: Economic Action Plan 2015 benefits 100% of families with children by lowering taxes and increasing benefits. An average family will receive $6,600 in support per year due to measures our government has introduced.
- Tax Free Savings Account: Economic Action Plan 2015 proposes to increase the Tax-Free Savings Account annual contribution limit to $10,000, effective for the 2015 taxation year. There are now 11 million Canadians who have opened accounts to save money for their priorities.
- Supporting Job-Creating Businesses: Economic Action Plan 2015 proposes to support manufacturing job across Ontario by providing tax relief for manufacturers and funding the new Automotive Supplier Innovation Program. These initiatives will help create jobs and economic growth for Ontario.
- Supporting Seniors: Economic Action Plan 2015 proposes to provide more flexibility for seniors by reducing the minimum withdrawal factors for Registered Retirement Income Funds to permit seniors to preserve more of their retirement savings. Economic Action Plan 2015 also proposes to introduce a new, permanent, non-refundable Home Accessibility Tax Credit for seniors and persons with disabilities.
- National Security: To ensure that our Armed Forces continue to have what they need to accomplish the dangerous tasks Canadians ask of them, Economic Action Plan 2015 proposes increase National Defence’s budget by $11.8 billion over 10 years. We are also providing new funding to help counter violent extremism and terrorism.
In addition to this direct support, the Province of Ontario will receive record high transfer payments to support health care, education, and social programs. Specifically, Ontario will receive $20.4B in federal transfers this year.
“We are proud of our plan that is lowering taxes and providing benefits directly to families in Oxford for them to reinvest in the Canadian economy,” says MP MacKenzie.