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February 11, 2014
12 things you should know about the federal budget
By Trevor Greenway and Geoff MatthewsMetro
Trevor Greenway/MetroCIBC Chief Economist Avery Shenfeld talks to reporters during a budget lockup Tuesday.
1
Finance Minister Jim Flaherty says he is going after companies that charge higher prices for goods sold in Canada than they do in the U.S.
“The Government intends to introduce legislation to address price discrimination that is not justified by higher operating costs in Canada,” said the budget tabled by the minister. Details are still to come.
2
The federal government will inject $1.9 billion over the next five years to reform the on-reserve education system to give First Nations communities education “comparable to provincial and territorial school systems.”
The 2014 federal budget calls for $1.25 billion from 2016-2019 for the implementation of a First Nations Control of First Nations Education Act. The act will “ensure stronger, more accountable” education systems on reserves and will provide stable funding for First Nations schools that is comparable to provincial education funding models.
3
Canadian businesses looking to hire and train underemployed or unemployed workers will get a hand from the top, as the 2014 federal budget will launch The Canada Job Grant, giving businesses up to $15,000 per worker for training costs.
The money can be used for tuition and training materials and employers would be required to pay one-third of the training costs.
The grant is for “short-duration” training by a third party like a community college and trade centres that can be complete in class, on-site or online.
4
The federal government plans to tackle prescription drug abuse among youth with $44.9 million invested over five years to expand the National Anti-Drug Strategy.
The money is part of the 2014 Economic Action Plan and will go towards educating Canadian consumers on the safe use, storage and disposal of prescriptions drugs such as fentanyl and Oxycontin.
The money will also go towards enhancing treatment and prevention of prescription drug abuse in First Nations Communities.
5
Cigarette smokers will pay an extra 50 cents a pack to indulge their habit, effective immediately, as the Government of Canada moves to reduce tobacco consumption.
The move is expected to generate an additional $96 million for the federal treasury in the current fiscal year, rising to $660 million by 2015-16.
In his 2014 budget released Tuesday, Finance Minister Jim Flaherty announced that the federal excise tax will rise from $17 to $21.03 a carton. An even larger increase of $6.03 per carton will apply to cigarettes sold in duty-free stores.
6
The Government of Canada says high-speed broadband networks should be available to virtually all Canadians within five years.
In his 2014 budget, Finance Minister Jim Flaherty said access to reliable broadband networks is part of everyday life for most Canadians. But the same doesn’t hold true for those in northern and remote communities.
The minister promised $305 million over the next five years, providing 5 megabits per second broadband service to an additional 280,000 households, “which represents near universal access.”
7
The Government of Canada will invest $15 million over three years to expand the Ready, Willing & Able initiative, which encourages employment opportunities for people with intellectual disabilities and autism spectrum disorders.
8
The Federal budget proposes $36 million over four years to renew Computers for Schools program.
9
Government will provide $11.8 million over two years, and $3.3 million annually after that for enhanced job matching service to ensure Canadians get first chance at local jobs that match their skills.
10
The federal government will inject $390 million over the next five years into Canada’s food safety system. The cash will go into hiring inspectors and to create a country-wide information system for authorities to respond quickly to food safety risks.
11
The budget proposes up to $8.1 million over five years to create a DNA-based Missing Persons database starting in 2016, with a$1.3 million yearly investment.
12
The feds say they will work with provinces, territories and cities to establish a National Disaster Mitigation Program with a proposed $200 million over five years starting in 2015.
12 things you should know about the federal budget
By Trevor Greenway and Geoff MatthewsMetro
Trevor Greenway/MetroCIBC Chief Economist Avery Shenfeld talks to reporters during a budget lockup Tuesday.
1
Finance Minister Jim Flaherty says he is going after companies that charge higher prices for goods sold in Canada than they do in the U.S.
“The Government intends to introduce legislation to address price discrimination that is not justified by higher operating costs in Canada,” said the budget tabled by the minister. Details are still to come.
2
The federal government will inject $1.9 billion over the next five years to reform the on-reserve education system to give First Nations communities education “comparable to provincial and territorial school systems.”
The 2014 federal budget calls for $1.25 billion from 2016-2019 for the implementation of a First Nations Control of First Nations Education Act. The act will “ensure stronger, more accountable” education systems on reserves and will provide stable funding for First Nations schools that is comparable to provincial education funding models.
3
Canadian businesses looking to hire and train underemployed or unemployed workers will get a hand from the top, as the 2014 federal budget will launch The Canada Job Grant, giving businesses up to $15,000 per worker for training costs.
The money can be used for tuition and training materials and employers would be required to pay one-third of the training costs.
The grant is for “short-duration” training by a third party like a community college and trade centres that can be complete in class, on-site or online.
4
The federal government plans to tackle prescription drug abuse among youth with $44.9 million invested over five years to expand the National Anti-Drug Strategy.
The money is part of the 2014 Economic Action Plan and will go towards educating Canadian consumers on the safe use, storage and disposal of prescriptions drugs such as fentanyl and Oxycontin.
The money will also go towards enhancing treatment and prevention of prescription drug abuse in First Nations Communities.
5
Cigarette smokers will pay an extra 50 cents a pack to indulge their habit, effective immediately, as the Government of Canada moves to reduce tobacco consumption.
The move is expected to generate an additional $96 million for the federal treasury in the current fiscal year, rising to $660 million by 2015-16.
In his 2014 budget released Tuesday, Finance Minister Jim Flaherty announced that the federal excise tax will rise from $17 to $21.03 a carton. An even larger increase of $6.03 per carton will apply to cigarettes sold in duty-free stores.
6
The Government of Canada says high-speed broadband networks should be available to virtually all Canadians within five years.
In his 2014 budget, Finance Minister Jim Flaherty said access to reliable broadband networks is part of everyday life for most Canadians. But the same doesn’t hold true for those in northern and remote communities.
The minister promised $305 million over the next five years, providing 5 megabits per second broadband service to an additional 280,000 households, “which represents near universal access.”
7
The Government of Canada will invest $15 million over three years to expand the Ready, Willing & Able initiative, which encourages employment opportunities for people with intellectual disabilities and autism spectrum disorders.
8
The Federal budget proposes $36 million over four years to renew Computers for Schools program.
9
Government will provide $11.8 million over two years, and $3.3 million annually after that for enhanced job matching service to ensure Canadians get first chance at local jobs that match their skills.
10
The federal government will inject $390 million over the next five years into Canada’s food safety system. The cash will go into hiring inspectors and to create a country-wide information system for authorities to respond quickly to food safety risks.
11
The budget proposes up to $8.1 million over five years to create a DNA-based Missing Persons database starting in 2016, with a$1.3 million yearly investment.
12
The feds say they will work with provinces, territories and cities to establish a National Disaster Mitigation Program with a proposed $200 million over five years starting in 2015.
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