OTTAWA, April 1 /CNW/ - Cliff Mackay, President and CEO of the Railway
Association of Canada, said Canada's freight and passenger railways appreciate
the Ontario budget's cost savings and infrastructure spending to improve
investment conditions. He said the budget, tabled late last week, is business
and rail-friendly and is expected to generate some $35 million dollars
annually in railway industry savings.
Infrastructure projects include a rail grade separation in west Toronto
to improve service on GO Transit's Georgetown line, and a new third track in
GO's Lakeshore West busiest rail corridor to improve train service. Other
projects are pending, said Mr. Mackay. He particularly noted the proposed
infrastructure upgrade package for Ontario's Short Line Railways and said he
hoped the Ontario government would move to approve it in the near future.
A new 13 per cent value-added tax will take effect on July 1, 2010.
Corporate income tax rates drop to 12 per cent from 14 per cent at that time,
and to 10 per cent by 2013. Ontario's marginal effective tax rate will drop
next year to 18.6 per cent from 33 per cent.
Canada's railways transport some 75 per cent of surface freight and 68
million passengers, reduce congestion and generate only three per cent of
greenhouse gas emissions annually.
For further information:
For further information: Media Contact: Roger Cameron, Railway
Association of Canada, (613) 564-8097, email@example.com