Vaughan, Ontario – Today Minister Fantino consulted with small and medium sized entrepreneurs in Vaughan to discuss the next phase of Canada’s Economic Action Plan. The economic consultation is an opportunity to consult local job creators in advance of the Budget 2011, focused on keeping taxes low, spurring job creation and economic growth.
“The economy remains the number one priority of the Prime Minister and our Government.” said Minister Fantino. “Our Government will continue to focus on job creation, retirement savings for seniors, and the financial security of all Canadian families.”
Launched in 2009, the Harper Government’s Economic Action Plan has so far contributed to the creation of more than 460,000 new jobs, and helped the country emerge from the global economic crisis faster and stronger than most other major industrial countries around the world. Minister Fantino highlighted the Harper Government’s job creating investments across Vaughan, including in the:
- Spadina Subway Extension;
- Al Palladini, Maple, Humanity First and Chancellor Community Centers;
- Keele, Weston, Ansley Grove and Martin Grove road repairs;
- Kleinburg Library;
- Woodbridge Expansion Area District Park Bocce Shelter;
- McMichael grounds infrastructure repairs; and
- Rainbow Creek park renewal and redevelopment.
“Here in Vaughan and across the country, it is clear that the Economic Action Plan is working,” continued Minister Fantino. “Our low-tax agenda is creating jobs and economic growth for families and businesses in Woodbridge, Maple and Kleinburg.”
Since forming Government, the Harper Government has:
Reduced taxes for small businesses by reducing the small business tax rate from 12 per cent to 11 per cent and increasing the income limit for the small business tax rate to $500,000 from $300,000.
Taken action to reduce red tape for job creators by 20 per cent and launched the Red Tape Reduction Commission to go even further.
Created a new late-stage venture capital fund in Canada to support entrepreneurs
Help small business job creation with the Apprenticeship Job Creation Tax Credit (AJCTC), a non-refundable tax credit equal to 10 per cent of the eligible salaries and wages payable to eligible apprentices.
“Since coming to office, our government has reduced taxes 120 times and Canada now has an overall tax rate on new business investment that is substantially lower than that in any other G-7 country, concluded Minister Fantino. “These are of real and direct benefit to our hard working entrepreneurs in Vaughan and for their families who are driving our recovery and future forward.”