Highlights Canada's Economic Action Plan
WINNIPEG, Feb. 13 /CNW Telbec/ - Vic Toews, President of the Treasury
Board and Member of Parliament for Provencher, today spoke to the Manitoba
Chamber of Commerce, highlighting key aspects of Budget 2009: Canada's
Economic Action Plan.
"Canadians know that the problems facing our economy did not start here
at home, but are the result of actions taken in other countries. However, we
are taking action to protect and help Canadians get through this," said Toews.
As part of Canada's Economic Action Plan, the Government will extend,
over the next two years, work-sharing agreements by 14 weeks, to a maximum of
52 weeks, to help businesses recover from the global economic downturn.
The Working Sharing program helps:
- Workers avoid the hardship of a temporary lay-off
- Businesses retain valuable employees
- Maintain company morale
- Avoid unnecessary re-training costs.
"By minimizing layoffs and working with both businesses and employees, we
are ensuring that more individuals will keep their jobs and more businesses
will stay afloat," said Toews.
Toews also spoke about the importance of ensuring businesses and families
have better access to financing.
"When we asked Canadian families and small businesses what their key
concerns were, we heard loud and clear that access to financing was critical.
A shortage of financing can make a difficult economic situation much worse.
That's why we are taking action."
The Conservative government has established the Extraordinary Financing
Framework, consisting of up to $200 billion in existing and new measures to
improve access to financing. Among other initiatives, it includes:
- The new Canadian Secured Credit Facility, to support financing of
vehicles and equipment for consumers and businesses;
- Providing additional support to small business through Export
Development Canada and the Business Development Bank of Canada
- Increasing the amount a small business can borrow under the Canada
Small Business Financing Program
- Helping more families and businesses get lending from the private
sector by expanding the Insured Mortgage Purchase Program
"Our Work-Sharing program and our Extraordinary Financing Framework are
just a few of the important initiatives included in our Economic Action Plan.
I encourage all Canadians to learn more about the measures that will help them
and their family during these challenging economic times," concluded Toews.
Employers who are interested in the Work-Sharing Program should contact
their local Service Canada Centre or call 1 800 O-Canada to apply. For more
information about the program visit www.servicecanada.gc.ca.
For further information:
For further information: Christine Csversko, Director of Communications,
Office of the President of the Treasury Board, (613) 957-2666