Tuesday’s release of the federal government’s Action Plan for the Economy was praised by Simcoe North M.P. Bruce Stanton for addressing a number of concerns from local residents and businesses. 

“As you will recall, in early January, I hosted a series of consultations to gather suggestions for Minister Flaherty as he prepared our most recent Budget. “ Stanton commented.  “I have had a number of discussions with Minister Flaherty and his office over the last few weeks, and was pleased to see that a number of local priorities were reflected prominently in the final Budget.” he continued.

One of the most significant measures included in the Action Plan for Simcoe North will likely be the establishment of the Southern Ontario Economic Development Agency, supported by $1 billion over the next five years. “This is an initiative that we have asked the government to carefully consider since 2006.  Until now, rural southern Ontario did not have access to the kind of economic development programs available in every other region of Canada.  Ontario, once recognized as the engine of Canada’s economy, has been particularly hard-hit by the global economic turmoil and the slowing of the US economy.  This new agency is a tremendous development local businesses and entrepreneurs.” said Stanton.

Other suggestions from Simcoe North citizens that were addressed in Canada’s Economic Action Plan include:

• $225 million over three years to extend broadband coverage to unserved communities
• $500 million over two years to support the construction and upgrading of community recreational facilities
• $2 billion for housing, including $1 billion to renovate social housing, and $400 million to build social housing for low-income seniors
• $1 billion to support clean energy technologies
• For new home buyers, increasing the RRSP withdrawal limit from $20,000 to $25,000
• lowering taxes for middle and lower income Canadians
• Increasing the ecoENERGY retrofit program to improve energy conservation in our homes, by $300 million over two years
• a new tax credit for home renovations – providing up to 1,350 per family until February 2010.
• Extending of EI benefits by five weeks
• Creation of the $12 billion Canadian Secured Credit Facility to improve credit availability for consumers to purchase and lease new vehicles
• Increase in arts and culture funding by $335 million
• $2 billion to repair, retrofit or improve post-secondary institutions
• $1.5 billion for retraining ($1 billion for EI training programs; $500 million to establish the Strategic Training and Transition Fund
• Extension of work-sharing agreements by 14 weeks (to a total of 52 weeks) over the next two years