Budget provides conditions for stimulus and investment, says CGA-Canada
See the highlights of the federal budget.
CGA-Canada’s scorecard of the budget.
(Ottawa, January 27, 2009) —
Measures included in Budget 2009 aimed at stimulating growth, business and consumer confidence are good news for the Canadian economy, says the Certified General Accountants Association of Canada (CGA-Canada). The budget acknowledges that Canada is caught in a global recession and key measures ought to address Canadians’ short-term needs, particularly those of consumers and workers.
“CGA-Canada believes this budget provides the necessary support for economic stimulus and job creation,” said Anthony Ariganello, President and Chief Executive Officer of CGA-Canada. “We are pleased to see measures that will support those Canadians most affected by the economic downturn by helping them to weather and recover from this economic storm. Measures such as personal tax relief and extended Employment Insurance benefits will put more money in their hands at this crucial time. The Canadian Skills and Transition Strategy is important to ensure that when Canada emerges from this recession, it has a skilled and knowledgeable workforce.”
CGA-Canada also welcomes the Extraordinary Financing Framework, which is designed to provide businesses with needed access to financing. Such measures are essential to creating economic opportunities. CGA-Canada also agrees with other measures being introduced to complement these fundamentals, such as $7.8 billion for housing construction, renovations and eco retrofits, as well as $12 billion for infrastructure projects.
“Through this budget the federal government acknowledges that it must not only create the conditions for investment, but also provide for direct investment opportunities,” said Ariganello. “First, improving access to financing is essential to create the conditions for growth. Second, key direct investments are essential to get Canadians and the economy back to work. We believe this budget meets these criteria.
“At the same time the government must ensure measures taken do not compromise our future. We will ensure the government remains committed to long term sustainability and that at the earliest opportunity there is a return to core principals of balanced budgets and deficit repayment schedules,” added Ariganello.