2014 Federal Budget Commentary
On February 11, 2014 the Honourable Jim Flaherty, Minister of Finance, presented Canada’s Economic Action Plan 2014 to the House of Commons.
The Government’s fiscal positions include deficits in the years 2013/2014 ($16.6 billion), 2014/2015 ($2.9 billion), and surpluses in 2015/2016 ($6.4 billion), 2016/2017 ($8.1 billion), 2017/2018 ($8.1 billion), and 2018/2019 ($10.3 billion).
The Federal Government notes:
- New measures are proposed to improve competition in the telecommunications market by capping wholesale domestic wireless roaming rates.
- $305 million will be invested over five years to extend and enhance broadband Internet service for Canadians in rural and northern communities.
- Legislation is to be introduced prohibiting unjustified cross-border price discrimination to reduce the gap between consumer prices in Canada and the United States.
- $200 million over five years will be directed to establish a National Disaster Mitigation Program.
- An additional $500 million over two years will be provided to the Automotive Innovation Fund to support significant new strategic research and development projects.
- The Canada Apprentice Loan will be created by expanding the Canada Student Loans Program to help apprentices registered in Red Seal trades with the cost of training.
- $391 million over five years will be provided to the Parks Canada Agency to make improvements to highways, bridges and dams located in national parks and along historic canals.
- $390 million over five years will be provided to strengthen Canada’s food safety system.
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