The actions taken by the Government over the last two years are working. Stimulus measures are maintaining and creating jobs and securing the economic recovery. As the economy improves, the Government will refocus its attention on its long-term economic plan. The cornerstone of this plan is a return to balanced budgets.

Budget 2010 outlines a three-point plan for returning to budget balance once the economy has recovered.

The Government will not raise taxes and will not cut major transfers to persons and other levels of government.

As a result of the expiration of the Economic Action Plan and the measures in this budget, the deficit is projected to decline by almost half over the next two years to $27.6 billion in 2011–12, and by two-thirds to $17.5 billion in 2012–13. In 2014–15, the deficit is projected to be $1.8 billion.

Canada’s fiscal health is the envy of the world. The Government is fully committed to sustaining our fiscal advantage.

Delivering Year 2 of Canada’s Economic Action Plan—$19 billion in New Stimulus in 2010–11

Budget 2010 will deliver Year 2 of Canada’s Economic Action Plan, with $19 billion in new federal stimulus in 2010–11, by:

Jobs Protection and Youth Employment Measures

Budget 2010 builds on the Economic Action Plan with targeted actions to protect Canadian workers from the effects of the global economic recession by:

Creating Economic Growth and Jobs Through Innovation

Budget 2010 makes targeted changes to improve Canada’s productivity growth through innovation by:

Encouraging Investment and Trade to Create Jobs and Growth

Budget 2010 takes further action to improve conditions for investment, enhance competition, and reduce barriers for businesses by:

Green Jobs and Growth

Budget 2010 includes measures to promote energy investments, help develop and deploy clean energy technologies, and protect and enrich Canada’s unique environmental heritage by:

Modernizing Canada’s Infrastructure

Budget 2010 strengthens the Government’s already significant investments in Canada’s infrastructure by:

Strengthening the Financial Sector

Budget 2010 introduces measures that will support Canada’s strong and competitive financial sector by: