$40 billion to support economy over next two years
OTTAWA, Jan. 27 /CNW/ - PricewaterhouseCoopers (PwC) Canada tax
specialists commented today:
Individuals and businesses are clearly worried about their futures;
however the direct action announced today by the Federal Government is geared
toward stimulating recovery and creating sustainable growth in Canada. Over
the next two years, Canada's Economic Action Plan will provide over $40
billion in stimulus. Notable actions include:
- Improved access to financing for consumers and businesses with support
of up to $200 billion of additional financing
- Reduction of taxes for Canadians by more than $20 billion over 2008-09
and the following five years
- Almost $12 billion in new infrastructure funding and $7.8 billion to
build and renovate housing
- Enhanced benefits and training opportunities for Canadians
- The creation or maintenance of up to 190,000 jobs for Canadians by the
end of 2010.
- To provide total stimulus equal to 1.9% of GDP this year
Key to the budget this year is the combined stimulus across many areas to
help Canada and Canadians manage through the downturn. Missing though, were
any significant corporate tax measures that would balance the liquidity of the
corporate tax sector.
A PwC Budget Flash with additional Budget highlights will be issued later
today followed by a detailed Budget Memo. For more information and detailed
commentary on the Budget please contact, Carolyn Forest,
email@example.com, 416-814-5730 or visit www.pwc.com/ca/budget.
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(www.pwc.com/ca) and its related entities have more than 5,200 partners and
staff in offices across the country.
"PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP, an Ontario
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each of which is a separate and independent legal entity.
For further information:
For further information: Carolyn Forest, PricewaterhouseCoopers LLP,
(416) 814-5730, firstname.lastname@example.org