OTTAWA, ON - Larry Maguire, Member of Parliament for Brandon-Souris applauded Budget 2015 as it will implement new measures that will create high-paying jobs for the people of Westman. It will also support economic growth across our region that will help our families and communities prosper.
"We have kept our promise to Canadians by balancing the budget in 2015, the first balanced budget since the Great Recession," said Maguire. "Federal taxes are the lowest they've been in 50 years and we've launched the largest infrastructure plan in Canadian history. I am proud of our plan that is providing benefits directly to families, seniors, students, and every taxpayer."
Through Budget 2015, the Province of Manitoba will receive record high transfer payments to support health care, education, and social programs. Federal support to Manitoba is at an all-time high. Since the Conservatives formed government in 2006, Manitoba receives over $1.2 billion through the Canada Health Transfer, which is an increase of $445M (or 57%) from under the previous Liberal Government.
Budget 2015 is also protecting transfers to provinces such as the health and social transfers that will continue to grow. This is in contrast to the previous Liberal Government that radically slashed healthcare transfer payments to Manitoba.
Maguire said, "Under our leadership, Canada has created over 1.2 million new jobs since the recession, but we live in uncertain times and the global economy remains fragile. That's why we will continue to focus on creating more jobs and growing Westman's economy."
Budget Plan 2015 includes key measures to support Westman families and to support the Manitoba economy, including:
- Supporting Seniors: Budget 2015 proposes to provide more flexibility for seniors by reducing the minimum withdrawal factors for Registered Retirement Income Funds to permit seniors to preserve more of their retirement savings. Budget 2015 also proposes to introduce a new, permanent, non-refundable Home Accessibility Tax Credit for seniors and persons with disabilities.
- Cutting Tax for Small Business: Budget 2015 proposes to further reduce the small business tax rate down to 9% by 2019. Due to measures the government has implemented since 2006, taxes for small businesses have been reduced by almost 50%.
- Supporting Families: Budget 2015 benefits 100% of families with children by lowering taxes and increasing benefits. An average family will receive approximately $4,000 to $6,600 in support per year due to measures the government has introduced.
- Tax Free Savings Account: Budget 2015 proposes to increase the Tax-Free Savings Account annual contribution limit to $10,000, effective for the 2015 taxation year. There are now 11 million Canadians who have opened accounts to save money for their priorities.
- Supporting Farmers: Budget 2015 proposes to increase the Lifetime Capital Gains Exemption to $1 million for our local farmers and provide funding to the AgriMarketing Program to promote Canadian agricultural and agri-food products around the world.
- Supporting Apprentices: Budget 2015 proposes to support provinces in the harmonization of apprenticeship training and certification requirements in targeted Red Seal trades. This will assist local businesses attract skilled employees from across the country.
- Supporting Students: Budget 2015 proposes to reduce the expected parental contribution and eliminate in-study student income from the Canada Student Loans Program needs assessment process.
- Supporting Communities: Budget 2015 proposes to create a new dedicated infrastructure fund to support the renovation, expansion and improvement of existing community infrastructure as part of the Canada 150 celebrations.
"While we're focused on creating jobs, the Liberals continue to propose high taxes and a high debt agenda that will set working families back. This is not the time for a risky Liberal carbon tax that will raise the price on everything and kill local jobs," Maguire concluded. "Without a doubt our budget is taking prudent action to lower taxes, create jobs and spur economic growth. In the coming weeks I will continue to share how our plan will help local residents, improve our quality of life and grow Westman's economy."
For more information on Budget 2015, please visit: http://www.budget.gc.ca