To: ogi who wrote (63125 ) 1/27/2009 7:25:15 PM From: Rocket Red Read Replies (1) | Respond to of 78417 The highlights of the 2009 budget include: - The economy will be in deficit until 2013. - At its worst, the federal debt is projected to be $542.4 billion in fiscal 2012-13. - This budget will create or maintain 190,000 jobs. - The federal government will spend $40 billion over the next two years to stimulate the economy. - $200 billion to the financial markets to improve access to credit. - $8.3 billion for the Canadian Skills and Transition Strategy for job retraining. - Create a Home Renovation Tax Credit that will provide up to $1,350 in tax relief for home renovations between Jan. 27, 2009, and Feb. 1, 2010. Some 4.6 million families are expected to benefit. - $12 billion for infrastructure projects over the next two years. - $7.8 billion over two years for the housing, construction, renovations and energy retrofits. - $7.5 billion for sectors and regions especially hard hit by the global slowdown, such as one-industry towns, the auto sector and forestry. - Extending employment insurance benefits by five weeks. - Freezing employment insurance premiums for two years. - Protecting the severance pay for employees when companies go bankrupt. - Increase the Working Income Tax Benefit for the working poor. - Increase funding to existing regional development agencies and create two new agencies — for southern Ontario and the North. - Enhance a program to encourage businesses to invest in machinery, equipment and computers systems. - $500 million for hockey arenas, swimming pools and other community recreational facilities. - $1 billion for social housing in the next two years, including more housing for seniors, the disabled and on reserves. - $407 million to Via Rail to improve passenger service, between Montreal, Ottawa and Toronto. - $175 million to shipyards to build 98 new small vessels, lifeboats and barges for the Coast Guard. - $75 million to Parks Canada to upgrade historic sites connected with 200th anniversary of the War of 1812. - $200 million over the next two years to the Canadian Television Fund. - Work with willing provinces and territories to reform securities regulation into a single regulator as quickly as possible. - Create a secretariat to explain financial concepts to Canadians with an aim to improve financial literacy. - The personal exemption allowed before taxes are assessed will increase to $10,320 from $9,600. - Streamlining the approval process for new construction. - Spending freezes for public servants for travel, conferences and hospitality. - Cabinet ministers and their staff can no longer fly business class for trips under two hours. - Reduce the number of governor-in-council appointments. - Cap public service wage increases to 1.5 per cent for this year and the next two.