Our economy has shown strength and resiliency during the recent global economic turbulence. However, Canada cannot rest on its laurels. Our current advantage has provided an opportunity to position Canada for sustainable, long-term economic prosperity, ensure good jobs and provide a higher quality of life for generations to come.
Building on actions taken since 2006, Economic Action Plan 2012 announces major and necessary steps to address structural challenges and take advantage of new opportunities:
- Supporting Entrepreneurs, Innovators and World-Class Research by adopting a new strategic approach to enhancing support for business innovation and providing additional funding to help Canada reinforce its leadership in fundamental research.
- Improving Conditions for Business Investment by streamlining the Canadian regulatory system, particularly for major economic projects; continuing to invest in our natural resources; expanding trade to open new markets for Canadian businesses; keeping taxes low for job-creating businesses; and further developing our financial sector advantage.
- Investing in Training, Infrastructure and Opportunity by strengthening incentives for employment and skills training; improving the Employment Insurance program; expanding opportunities for Aboriginal peoples to fully participate in the economy; building a fast and flexible economic immigration system; and continuing to invest in public infrastructure.
- Supporting Families and Communities by protecting the health and safety of all Canadians and their communities; keeping taxes low for families and individuals; and protecting Canada’s natural environment and wildlife for future generations.
|Supporting Entrepreneurs, Innovators and World-Class Research|
|Creating Value-Added Jobs Through Innovation||255||171||426|
|Support for Research, Education and Training||200||141||341|
|Subtotal—Supporting Entrepreneurs, Innovators
and World-Class Research
|Improving Conditions for Business Investment|
|Responsible Resource Development||78||87||165|
|Investing in Our Natural Resources||136||-24||112|
|Expanding Trade and Opening New Markets
for Canadian Businesses
|Enhancing the Neutrality of the Tax System||-10||-10|
|Improving Economic Conditions for Farmers and Fishermen||38||17||55|
|Further Developing Canada’s Financial Sector Advantage||3||3||6|
|Subtotal—Improving Conditions for Business Investment||298||120||418|
|Investing in Training, Infrastructure and Opportunity|
|Supporting Job Creation, Small Business and Skills Training||51||186||40||277|
|Improving the Employment Insurance Program||177||305||482|
|Expanding Opportunities for Aboriginal Peoples
to Fully Participate in the Economy
|Building a Fast and Flexible Economic Immigration System||5||4||9|
|Strengthening Canada’s Public Infrastructure||150||124||274|
|Subtotal—Investing in Training, Infrastructure and Opportunity||51||609||601||1,262|
|Supporting Families and Communities|
|Protecting the Health and Safety of Canadians||37||37||73|
|Investing in Communities||228||204||431|
|Protecting Canada’s Natural Environment and Wildlife||29||32||60|
|Subtotal—Supporting Families and Communities||297||279||577|
|Total—Supporting Jobs and Growth||51||1,659||1,313||3,023|
|Less funds existing in the fiscal framework||522||436||958|
|Net fiscal cost||51||1,137||877||2,065|
|Note: Totals may not add due to rounding.|