Hello everyone.
The federal budget just came down about 2 hours ago and I'm so up to date today. Take a look at the following CBC website. It has some very timely information about the budget. Read it and watch some of the videos. The videos talk about the budget from the conservative's perspective, and the liberal's and NDP's perspective.
http://www.cbc.ca/news/canada/windsor/story/2011/03/22/pol-budget-main.html
Identify one component of the budget and briefly explain how that component will impact you.
Have fun! See if you can post something by, say, April 4th - that's a monday.
Sheila Ross
The component that I have chosen of the budget is measures aimed at students also on education and training. The fees for the existing tuition tax credits would be eligible to help us as the students to pay what we owe by less tuition to the government, and release a lot of stress spatially for those that have bigger amount that they to owe the government.
ReplyDeleteThe comment I am going to talk about is what Jack Layton is looking for and that is more money so that all Canadians can have a family Doctor. The reason this is important, if you end up going to different family Doctors all the time, no one dr. knows when something is lasting for a long time or knows your family history and should be aware of any concerns. Where as if all communities had enough money to pay for Dr.'s for everyone, then we would have a healthier community and longer life spans. I think this is something we should all go for. I myself will be looking for a new family Dr. when I move to Victoria and I am a strong believer of family dr.'s because if it weren't for mine I wouldn't be able to get some of the drugs I need without causing fuss.
ReplyDeleteJOrdan Hislop
I am happy to finally hear about a Children’s Arts Tax Credit as one component in the budget 2011. It would allow parents to deduct up to $500 per year for the registration of a child in a program of artistic, cultural or developmental activities. My family might get some money from the component if we are luck. My daughter is taking piano program, and my son Kevin likes piano too. In tough economic years, we are still looking forward to offsetting the cost of piano program for Kevin. With possible this new tax break, we could afford family budget for him, and we don’t want to cut out the music for my daughter.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThe demand from the NDP and the response from the Prime Minister and Jim Flaherty involves excessive government spending for the benefits of the senior citizens and the Canadain environmental issue. As a student who is soon to face significant taxation for the first time, it is my belief that Flaherty's
ReplyDeleteresponse, or specifically, his disagreement with the NDP's rejection of the budget is the more ideal stance for me. Furthermore, instead of going further with the ecoENERGY Retrofit program and increasing financial support for senior citizens, Flaherty's ideologies on what is "necessary for long-term economic prosperity," and "low-tax plan for
jobs and growth," seem to be more beneficial and efficient as a young individual pursuing a career related to the economy.
-Terry Park
“$400 million in 2011-12 for the ecoENERGY Retrofit - Homes program to help homeowners make their homes more energy efficient.”
ReplyDeleteIn my opinion this is an extremely important part of the budget. I think EVERY Canadian homeowner should go out of their way to try and make their homes more energy efficient. Canadian homes cost a lot of money to keep up with heat, water and electricity. If every Canadian spends the money to update the standards of their home they will be saving money each year. For example your toilets leak tons of water each year and this is a problem that can be easily fixable, but you could also purchase an eco-friendly toilet to help lower your water waste and save you money. You could also purchase eco-friendly lights to save you money and they last longer than normal light bulbs. There are tons of different things you can do to your home to make it more energy efficient and if this new budget gets approved it will hopefully help motivate people to make their homes more energy efficient. What you have to do is up-date your home by a certain time, than apply for post-retrofit evaluation than you could be eligible for the federal grant. If more people do things to their home to make it more efficient it will not only help you save money and reduce our amount of our used resources, but help improve the condition of our planet.
The Liberals have proposed a “Learning Passport” for all post-secondary students. This “passport” would allow students to receive $1,000 to $1,500 a year (depending on your income) for up to four years of post-secondary education. This new program sounds pretty good, however it comes at a cost as they would be removing the existing education and textbook tax credit of approximately $558 a year. Still, no matter how you look at it students would be receiving more money under this new proposed component of the 2011 federal budget. As a student, this would directly impact me as I would be receiving more money towards my education. Also, I would receive the money at the beginning of the year, when I need it the most. This compared to the tax credits I currently receive, which I don’t see until tax time the following year. The best part of the so called "passport" is that the Liberals plan to pay for this with a corporate tax hike, which is just fine with me.
ReplyDeleteAccording to Jack Layton that health service such as family’s doctor, nurses, more hospital will be one of component in the budget 2011. As you know, our country does not have enough health service for people. For example , when you go to the hospital, you have to wait so long time to see the doctor or they do not have enough rooms for patients. I am very happy when I heard that health service will be improve. Its also mean that we will have a healthy community and a longer life than before. I hope that all Canadian can have the perfect health service in the future.
ReplyDeletePhuong Quach
The federal budget is about creating stability, building confidence and establishing new partnerships to meet Canadian families’ needs. They should address the national social deficit that is affecting every Canadian. To provide relief, support, and direction for Canadians, this budget must provide stimulus, help struggling Canadians and rebuild our economy. The social and fiscal deficits are related. Inequality are the biggest problem on economic productivity, undermine our democratic systems and generally reduce our national quality of live. The high rate of poverty in Canada and the growing inequality between rich and poor is not only shameful to Canadians, but is unsustainable. Most Canadians need to reduce poverty and inequality and view government action as an important strategy. Canadians recognize that the gap between rich and poor has been growing, and believe that government should take action to reduce this gap. The federal budget should focus tax measures on lower income Canadians, who are most likely to spend the money locally. It should increase, for example, the seniors’ Guaranteed Income Supplement, the National Child Benefit Supplement and the Canadian Child Tax Benefit, the Working Income Tax Benefit and the GST credit. The most productive government spending is on people. Investment in training and education is returned many fold over recipients’ working lifetimes. Canada has a much reported shortage of skilled labor, yet many Canadians are unemployed or underemployed, with no opportunity for training in the skills required. The plan should focus on sustaining employment and protecting vulnerable Canadians. It should lay the foundation for a more equal and sustainable society, and a more diversified, high-value economy. Let’s watch to see if the government’s budget chooses to address both the social and the fiscal deficit and therefore bring dividends to all Canadians. Let’s see if the budget choices for public spending help families
ReplyDeleteThe 2011-2012 federal budget has come out on march 22, 2011. The ruling conservative government made a budget called ‘low-tax plan for jobs and growth’. This budget is typically favorable to the economic approach of the opposition parties- liberal and NDP. Conservative believes that the business growth helps the economy keep running more than the personal tax cut, they want to create more competitive business environment by lowering the tax for business. So that the business will run up, there will be a lot of jobs and public income will grow up therefore total economy will grow up. On the other hand NDP & Liberal want more tax cut for public.
ReplyDeleteBut the new budget has more personal tax cut indication than others. So this budget is more favorable to NDP and liberal approach in economy but still they reject the budget and asking for spring election. In politics, opposition has to oppose every single matter of ruling government even it is very similar to their own believe!
Again the ruling government tries to make a budget that against their economic approach but favorable to keep the oppositions happy, which could be a strategy to keep themselves in power.
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ReplyDeleteOne aspect of the budget that stood out to me was the temporary hiring credit for small businesses. This is an aspect of the proposed budget that hasn't been covered much in our responses so far, so I decided to address it.
ReplyDeleteThe Temporary hiring credit would give small businesses up to 1000 dollars against the increase in the 2011 EI premiums,and this will encourage small business hiring.
Not all of our fellow BA students are likely to end up working for a small business, necessary, but a great many of us might find ourselves doing just that.
Small businesses make up a large portion of jobs in this country, and through 1997-2007 small businesses were responsible for 37% of job creation in the private sector. In 2007, they accounted for nearly 50% of all the jobs in the country for private sector.
You can read about this at the Industry Canada website by following these links:
http://www.ic.gc.ca/eic/site/sbrp-rppe.nsf/eng/rd02304.html
and
http://www.ic.gc.ca/eic/site/sbrp-rppe.nsf/eng/rd02303.html
As a 3rd semester student majoring in management, I feel that there is a significant opportunity for me, and my fellow students, to start in a small business, or transition to one and some point in our careers; let's not forget the students in our programs that are thinking of starting up their own small businesses even.
I really like this aspect of the proposed budget, and I think would it have gone through it would have helped a great many of us that are seeking employment during the break and after we have completed BA the program.
The part of the budget that i would like to discuss was the increase in money that is going to help park canada save the national park in labrador. I think this is so important as the environment is a crucial aspect of life for everyone. It is extrememly important to take national parks into consideration as so many areas like this are being torn down for residental or industrial sites. Trees are a huge natural resource that we seem to take for granted in our economy and it is resource that can be used for many items, such as paper, wood for housing, and the most important is it provides oxygen. Natural springs are not only beautiful but provide wildlife with a water source. Alot of wild animals are becoming obsolete or are endagered. It is of value that we as an ecconomy try to preserve such animals as it would be a shame to be in a world without animals. When we keep taking away all the wonders nature has created for us, it is sad to think of what our future genertions will have to look upon and be thankful for. It is so beneficial for us as an economy as a whole to factor in the earth around us and what kind of affects we may be creating for the future.It is beneficial for everyone to help preserve our natural resources and help protect the enviroment around us that is slowly depleting.
ReplyDeleteThe part of the 2011 federal budget that I would like to dicuss involves Supporting Job Creation. Canada is climbing out of the biggest economice downslope since the Depression, and as a result hundreds of Organizations were forced to lay off workers and downsize their corporations. As a student who is soon to be entering the workforce, it is a relief to see the government is taking action to build it back up again. With the addition of the new highway connecting innuvit and Tuktyuktuk, it will create hundreds of new jobs for people over the course of the project. Providing a hiring credit, encourages small businesses and entreprenuers to continue to hire new employees, and keeping taxes low will enhance growth opportunities. Included in the budget is a spending of $20 million over two years to help the Canadian Youth business which is a crucial foundation involvng building business opportunities by reaching out to young entrepreneurs between the ages of 18-35, who have the ideas but not necessarily the financial support or opportunity to back it up. The government is finally taking the necessary steps to ensure the business sector is regaining strength, and I can very much appreciate the small business reform, as someone who may very likely soon be effected by that, and will be able to capitalize on the aparent growth and opportunity the government is offering.
ReplyDeleteThere are two aspects of this budget that I find interesting and applicable to me and my family. First is the "Family Caregiver Tax Credit", as my mother in law is the one who takes care of my son when I am at work, this would benefit her by providing up to a $300 tax credit. The second is the "temporary hiring credit for small businesses". My husband owns his own business and may need to hire in the next little while and this would provide up to $1000 to off set the increase in EI premiums.
ReplyDeleteStephen Harper of the Conservative Government announced that they would extend the fitness tax credit and double it from the current $500/yr to $1000/yr. This would double the rebate from the maximum of $75 to $150 per year.
ReplyDeleteThe Childrens Arts Tax credit sounds great for those children that are more arts driven and not athletic and involved in sporting activities throughout the year but for those families who have active children involved in various sporting activities that are very costly i.e Hockey and Football, the fitness tax credit is an ideal tax break for many Canadian families.
This tax credit currently benefits 1.4 million Canadian families every year including myself and I would like to see it not only continue but double.
I definitely support this idea and hope that it is part of the new budget for Canada.
In the most recent announcement of the Federal Budget, among the several highlights it was rejected by the opposition parties Liberal, NDP. One of Conservative government's budge "low-tax plan for jobs and growth" was rejected.
ReplyDeleteThe rejection caused the minority government to dissolve; due to this another Federal Election has been called.
Conservative government believes business growth assists the economy more than personnel tax cuts. Initial goal is to create job opportunities, lower business tax. This may assist people who have been laid off, also help people find work that might be good for me and the people who do not have a job.
Economy flows smoothly with business growth, people working which in turn helps the unemployment rate.
Business inventories will decrease which leads to a shortage. When a shortage develops business production increases. This may all contribute to a healthy economy.
There was one thing that really stood out to me when I was reading the new 2011 – 2012 Federal budget that was released in March, 2011. It was the $5 million dollars each going towards the anniversary celebrations of the Grey Cup and the Calgary Stampede. I really feel that this is an unnecessary expense included in the budget, even being a big fan of both. These celebrations do help to produce revenue in the province that they are held in, but the revenue produced will happen even if the Government does not supply the $5 million dollars towards the cost of running the events. $10 million dollars is a lot of money to me and I do understand that in the big picture it is not.
ReplyDeleteWith everything that is going on in our economy, there must be ways we can use that money more effectively. Coming from a family that has a history of cancer, I would like to see more money put into helping the Canadian people. I feel that helping the people of our country is more important than supplying money to organizations that already make a fair amount of money entertaining the public. An example of one way would be placing it in to an education fund to help some of the less fortunate get basic education or even some secondary education. By placing it into an education fund, every province would benefit in its long term effects. Just by increasing the education level in the low income and/or less fortunate people, would affect everything from the unemployment rate to amount of homeless people. Having more people in the work force would affect everyone, but one can just imagine what could come from it. Everyone has a different way of thinking and could bring new ideas that could be used in technology or medical research. What if $10 million dollars was all it would take to cure a disease or come up with a new and improved medication, would you rather go watch a football game?
This comment has been removed by the author.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThe component of the 2011 federal budget that reached me the most was the promoting of education and training. Included in the component of education and training was increased employment opportunity for northerners, International education strategies and enhancing and expanding the eligibility for Canada Student loans. The future success of our country lies in the hands of the educated and it’s important that we provide Canadians with the incentive they need and to remove any obstacles that may hinder their ability to further their education. As a struggling student I know how difficult it can be to obtain funding for post secondary education, and I was very disgruntled when I discovered that I was not eligible for student loans because my husband fell under a higher tax bracket. What the government didn’t take into account was how many other previous financial commitments we also had and unfortunately I was limited by my options for financial assistance. So after reading under the budget that the government is expanding the eligibility for student loans and investing 34 million into the enhancement of them, I was very relieved for the future generation of students. Finding the time and motivation to continue your education is difficult as it is, but with the added pressure of finding out how to pay for school, many people find it impossible to go back and continue in their medial low paying jobs as a result of it. Continued attention must be paid to education within Canada so we continue to grow and flourish though the enriched and knowledgeable minds of the educated. By investing 34 million into the expansion and enhancement of student loans the government is giving many Canadian citizens something they might never have had before… an opportunity.
ReplyDeleteThe component that will benefit me is the $400 million for eco energy retrofit tax credit. I live in one of the oldest communities in Calgary and my family is planning on upgrading the older Furnace and also the water boiler. If we install an ENERGY STAR® qualified gas furnace that has a92.0% annual fuel utilization efficiency, we can apply for a grant with the maximum amount of $375. The higher the efficiency rating the higher the grant that are offered. The grant don’t just end there if we replace our domestic water heating equipment with an integrated mechanical system, that has an overall thermal performance factor of 0.90, the grant that is offered is $1625. These changes will save water, natural gas, electricity which will directly benefit our planet. Not only I will receive these grants, but also we will be looking at smaller bill and more savings. This tax credit will encourage many families to create more efficient homes that will benefit them and the environment. There are many more grants that start from replacing the toilets to more eco friendly once all the way to changing insulation in the walls. This tax credit will definitely allow my family to invest in more eco friendly house. I am hoping that this bill passes quickly so I can start my savings earlier.
ReplyDeletehttp://oee.nrcan.gc.ca/residential/personal/retrofit-homes/retrofit-qualify-grant.cfm
http://www.cbc.ca/news/canada/windsor/story/2011/03/22/pol-budget-main.html
Gagandeep Pannu
513946
I agree with the author in saying that this was a purely political budget and was built by Prime Minister Harper’s government to avoid a spring election. Even though his initial plan didn’t pan out, I did see that his budget had something for everyone- even if there was just a small dollar amount beside it.
ReplyDeleteOne of the main stand out points for me was the assistance to rural doctors and nurses. As an employee for Alberta Health Services in one of the most important and busy neonatal care units in the province, it is a part of my job to find doctors, specifically pediatricans for our discharged patients. Rural patients end up being referred to inner-city paediatricians because there are no trained general practiciners to -take on these very special and sometimes serious cases caused by prematurity. With more doctors trained in paediatrics, it will leave more availability for the inner-city pediatric specialists. Currently the wait list for a paediatrician for a child without life threatening illness is 18 months in Calgary.
Growing up in a rural community, I see the importance of nurses in our primary and critical care clinics every day. If we had more doctors, we would see less wait times with our GP’s. With my current medical condition, it takes me at least a week to have a results meeting with my GP to discuss my specialist consult results. With more doctors, I would be able to treat my ongoing condition with more speed and hopefully figure out the cause much faster.
Doctors and nurses are important, but there is always something important to each person. I thought Harper’s budget was feasaible to dealing with the current economic situation, while starting to bring in services which Canadians feel they need. Every problem cannot be fixed in one year, with one budget. It takes time and careful planning to execute a successful outcome. That outcome being a break even budget with government services still being offered. I am very disappointed the opposition parties didn’t see it that way and we are now in a spring election.
The component that will affect me the most is the 100 mil clean energy research. I think the Albertan government will need it the most in the coming future, with the oil field been used, I have feelings that Alberta environment will take a lot of damage due to the oil fields, therefore, having the clean energy reseach will help the environment.
ReplyDeleteHowever, this can cause an economical downhill for Alberta, as we are heavilly depending on Alberta oil field to support our economy, but again, nothing can be more important than a clean environment for the future generation, I think the 100 mil clean energy reseach will help out with the environment, and develope something that can shape the future world
The 2011 federal budget that has my concern would be involving Supporting Job Creations. Throughout the years, Canada has been in a deep Economic downfall since the Great depression and the result of that is Organization forcing to lay off workers. As a student who will be in the future go in the workforce, sees this as a great opportunity allowing more people to find jobs in the near future and allow more Organizations to be successful in the years to come. This idea is a great for graduated students and unemployed workers. Canada Economy will not be in a down slope depression if approving this idea and I definitely support this idea and hope that it is part of the new budget for Canada.
ReplyDeleteThe Minister of Finance, James M. Flaherty, presented his 2011 budget on March 22, 2011.One component of the budget that I would like to discus is the federal support for retirement savings. The good news for Canadians is that the budget offers to boost the Guaranteed Income Supplement for low-income seniors with up to $600 of extra money a year for single people and $840 per couple, gets to eliminate mandatory retirement for federally regulated employees, and provides an additional $5 million a year to senior support programs. Collectively, the new budget measures for seniors will improve the financial security of 680,000 Canadians and will cost $300. The increase “will mean greater financial security for the poorest of the poor who are older in Canada,” Finance Minister Jim Flaherty said. Flaherty came across with less than Layton (NDP) wanted. There are no reforms to Canada's pension system, another NDP demand
ReplyDeleteWhile there were some limited enhancements to support retirement savings, there were no enhancements to the Registered Retirement Savings Plan (RRSP) and Tax-Free Savings Plan which I feel are necessary as more and more Canadians are funding their own retirement. The proposed reforms made clear that we should not rely on either the state or our employer to fund a comfortable retirement. If we want a decent pension and want to take it at an age when we can still enjoy it, we probably need to start putting aside our own private savings.
Ian McGowan, the head of savings and investment at Scottish Widows, said: "The Budget highlights once again the pressure on public finance and reinforces the need for people to take greater individual responsibility for their financial security."
So, as middle-age Canadian, I am worry about my future. Will I have enough money to maintain the standard of living in retirement? My savings are still very low even though I have RRSP and been working for more than ten years. I think that the Government’s incentives can encourage Canadians to save more for retirement as well as the expansion of pension reform.
The budget shows out the plans for creating stability and building bonds between families. In budget there are all beneficial programs to fulfill Canadian family needs. Budget main concern is to low tax for jobs and growth. Whereas according to budget it has more personal tax deduction as compared to businesses.
ReplyDeleteI can say in the coming time more people going to enter in business field. This will result to more job opportunity for the young youth, this will be good for growth of economy, and there will be competition in the market which will result to provide better price of goods and services.
In the budget I also have a look on “family caregiver tax credit”. This is going to give benefit to all the grandparents. In city about 45% to 50% in Canada sit home and take care of kids. So now it will be beneficial for them.
Now let’s see if budget is going to work for welfare of economy and families. As budgets are always created in the way to keep everyone agree with it and feel happy and try to keep themselves in power.
Satwant Singh
000498698
The federal budget reflects government planning on the expenditure and revenue collection for the year. It is prepared and presented annually by the government. This year’s Canadian Federal Budget was released last March 2011. It reflected the different areas- such as social, health care, education, infrastructure, business and many others- that the government has to focus on in order to minimize expenses and maximize revenues.
ReplyDeleteOne of the areas that caught my attention was the corporate tax cut. As a student, it would be beneficial to me. Having a lower tax imposed on businesses will mean more chances for those businesses to invest their money due to tax savings. They will expand their business which will result to creation of new jobs. It will provide a gretear employment opportunities. There will be a bigger chance for me to get a job when I finish school.
Having a job means having an income. Because we earn money, we have the capacity to spend. If we spend, we contribute to economic growth. We then keep the economy going.
The $400 million for the ecoENERGY Retrofit will impact me the most because it is beneficial to all to become more environmental friendly. Everyone could in some way encourage more people to participate in making the world greener. I am sure that this part of the budget would catch people’s attention because of the cost of housing is nowadays. Everyone would like the save a penny here or there and this would motivate more people to do so. Simple things such as recycling paper, plastic, and bottles make a big difference. Every household can be more aware of the little things they can do that would help such as looking for the green label, buying FAIRTRADE marked food, this is where you know that the producers of the food are being paid decently. Keeping lights off and the television off when not in use are all things that are helpful. I do not think this is hard to achieve and I think this part of the budget makes the most sense because it is so easy to do. Everyone can be a part of it if they put the effort into it.
ReplyDeleteCanada’s new budget is so important. It will determine how and where the taxes will be distributed throughout the country. After observing the presented budget, what caught my eye was the federal student financial assistance.
ReplyDeleteAccording to this budget, the next phase of Canada’s economic action plan is to enhance and expand eligibility for Canada student loans and grants for full and part time post secondary students. The budget wants to double the in-study income exemption from $50-$100, allow higher family incomes without affecting their eligibility for student loans for full time and part time students. This new budget proposes that middle and low income families will be better positioned to pursue their education.
I chose this part of the budget because I am a student, and I know that it is hard to go to school and pay for it. I am looking for every advantage I can find. After reviewing the new proposed idea, I believe that it is a good start, but more can be done. I agree with allowing loans to higher family incomes. I have heard too many stories about how students are rejected for student loans. This budget is directed mainly to the part time students. In the future budget I would like to see a proposed plan where students can see more money at the beginning of semesters rather than through the tax credits. More benefits for full time students would be nice as well.
I can see and understand why this budget was immediately rejected. It is a good start, but it can benefit Canadians much more than what is being offered.
Mark Miller 000543567
The Economic Action plan is interested me with the supporting Canadian and their families to have a better life, and find good and high-paying jobs, which make the life standard of Canadian got higher. Especially, the rural communities’ health care, the places that usually lack of the health care service as urban communities do. The Economic Action Plan is going to increase the federal Canada student loan of family physicians up to $8,000 to a maximum of $40,000 per year, and nurse and nurse practitioners also will be eligible up to $4,000 to a maximum of $20,000 per year. Therefore, this make doctors and nurses feel interested to move to rural communities, so that Canadians, who are living at rural places, can have their own family doctor to take care of their health history and get their health care service without going too far away to nearby urban communities.
ReplyDeleteChiToan Huynh
The tax budget for Canada this year has come with some really good surprises. The component that attracts me the most in this budget is the tax credits to small business for hiring new employees. Already Canadian job market is looking better with the continuous growth which is better than the rest of the G7 nations and tax credits to small companies for hiring will mean more jobs introduced in the job market of Canada because small business cover a huge market in the private sector and they needed this support to create jobs for people like me who will be graduating by the end of this year and will be looking for a job.
ReplyDeleteit is clear that all the opposition parties are not in favor of the budget as it fails to meet their demands. However, Jim Flaherty specifically states in his speech that the budget is not designed to meet every party’s demands but to meet the demands of Canadians. It is through the planned budget that will allow the country to move forward and eliminate the deficit by the year 2015, creating surplus of $4.2 million. In an effort to eliminate the deficit, Flaherty states that that the surplus will allow the government to create more social programs to accommodate Canadians. However, Flaherty greatly emphasizes on the issue that the government can only spend so much and is currently avoiding to make excessive expenditures because they cannot afford it right now, if their goal is to eliminate the deficit. I completely agree with Mr. Flaherty’s intake on cutting down expenses and only using the money to make important changes. One of the main components of the budget that would greatly impact me is the number of measures aimed at students and on education and training. The budget stated that exam fees would be eligible for the existing tuition tax credit. The government’s plan is to encourage skills certification by making all occupational trade and professional examination fees eligible for tax relief. This greatly affects the students’ education as they pay a significant amount towards tuition and other expenses. The government also plans to extend and expand the Canada Student Loans and grants for part-time and full-time post- secondary students. This is the greatest advantage for students as they are able to acquire loans in order to receive a quality education and training and pay less tuition.
ReplyDeleteI believe that the part of the budget that will affect us the most is the idea of creating jobs and stimulating economic activity. The temporary break on EI for small businesses and extension of work sharing programs would benefit us greatly. Once we graduate we will be heading into the workforce and that way it will make it easier for us to get jobs. This aspect I believe is the most important part for us students coming out of school in a couple years.
ReplyDeleteThe federal budget seems not be working this year. The government is saying that the deficit in the country will shrink down completely by 2015 and there will be a surplus. Also the government announced that students in the nursing field and students who want to become doctors will not have to repay their loans only if they agree to work for the rural areas in the country. Personally I do not agree with the finance minister about the rise in the credit line and increase in the mortgage rates for buying homes. Secondly the issues on the rising employment as there is enough emphasis put on increased jobs there is increased income for Canada. Also I like that the government is going to invest $20 million for youth crime prevention programs, as the number of youth crimes increase rapidly in the country.
ReplyDeleteGovernment working towards establishing pooled retirement pension plans (PRPPs) – PRPPs will give all working Canadians the benefits of professionally-managed pension plans, and will be particularly beneficial to the self-employed and employees of small businesses.
There are some helpful investment initiatives for the agricultural sector, but Canadian farmers might be disappointed as there was not a stronger signal from the federal government recognizing agriculture as an investment priority, properly reflecting the value the sector contributes to the country’s economy.
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ReplyDeleteThe federal budget seems not be working this year. The government is saying that the deficit in the country will shrink down completely by 2015 and there will be a surplus. Also the government announced that students in the nursing field and students who want to become doctors will not have to repay their loans only if they agree to work for the rural areas in the country. Personally I do not agree with the finance minister about the rise in the credit line and increase in the mortgage rates for buying homes. Secondly the issues on the rising employment as there is enough emphasis put on increased jobs there is increased income for Canada. Also I like that the government is going to invest $20 million for youth crime prevention programs, as the number of youth crimes increase rapidly in the country.
ReplyDeleteGovernment working towards establishing pooled retirement pension plans (PRPPs) – PRPPs will give all working Canadians the benefits of professionally-managed pension plans, and will be particularly beneficial to the self-employed and employees of small businesses.
There are some helpful investment initiatives for the agricultural sector, but Canadian farmers might be disappointed as there was not a stronger signal from the federal government recognizing agriculture as an investment priority, properly reflecting the value the sector contributes to the country’s economy.
The federal budget should measure things which could affect every Canadian. Most Canadians needs to reduce inequality to reduce poverty rate. The federal budget should focus tax measures on lower income Canadians, who are most likely to spend the money locally. It should increase, for example, the seniors’ Guaranteed Income Supplement, the National Child Benefit Supplement and the Canadian Child Tax Benefit, the Working Income Tax Benefit and the GST credit. People in Canada should work collectively to reduce the poverty and view government as a major factor in whole strategy. The Gap between poor becomes poorer and a wealthy person getting richer is resulting in unpredictable growth. Other thing is families with low income, the unemployment rate is increasing. There should be a plan to provide jobs to people who have skills. A plan which focuses on sustaining employment and protecting vulnerable Canadians
ReplyDeleteThe job opportunity for the today’s youth will eventually result in growth of economy, and there will be competition in the market which will result to provide better price of goods and services.
After the effects of the 2008 recession, my family had to cut down on many things from our family budget. I have discovered that the component of the 2011 federal budget that will affect me the most will be the Children’s Arts tax credit. It will allow me to claim 15% of the registration costs for eligible arts and cultures up to $500 on my taxes. As the mother of a 1 year old, I find this to be quite wonderful, because I will be able to afford introducing him to new experiences at an early age. Already taking advantage of the Children’s Fitness Tax credit, this new credit will allow me to introduce him not only to athletic programs, but also intellectual ones. Children are the future generation, and if the government encourages parents to introduce them to learn from new experiences and broaden their minds, by making this more affordable, then I have no problem with that. Although it will be nice to take advantage of this tax credit, I am a little disappointed with the limited aspects of the 2011 federal budget my family and I will be able to take part in.
ReplyDeleteGlendy Duarte
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The liberals are right when they say that affordable housing and child care are important factors and need to be put into the budget. Every Canadian needs a home and child care is very important here in Canada. To me it just seems all of the parties are working against each other compared to working together and comprising for the sake of all Canadians. I do believe that having eco friendly homes is an amazing idea, but is that the main concern that we need to be putting the budgets money on right now. The Canadian economy is finally recovering and where this money goes will keep the economy strong and moving. 400 million is a lot of money which is being put to good use but is this the time to be introducing a ecoENERY tax credit. The overall idea is a good one; a lot of Canadian homes could use the tax credit to make their homes more energy efficient. Over all in the long run it will save Canadians a lot of money whether they make a lot of changes to home or even just a few. There are a lot of simple solutions that Canadians can start with right now and I think that the tax credit will help motivate that. Isn’t there a better place to put that money right now that will keeping making this country stronger and look out for both, the rich and the poor. If anything I think the budget should be put on education. However; they shouldn’t limit it to just nursing or doctors, education is education.
ReplyDeleteI have chose to comment about the measures to attract doctors and nurses to rural areas demanded by the NDP. My sister in law is currently a nurse who works in Calgary, and she has raised concerns about nurses in rural areas are often overworked. This is mainly due to lack of staff in rural areas, which forces irregular work hours and overtime. The results of overworking can cause mental fatigue and poor decision making, which will lead to poor health care given for those in need; therefore, I believe this program would provide better health care attention to individuals with medical help, and also decreases the workload of health care providers in rural areas. This could greatly impact my decision into looking for a home in rural areas in the future.
ReplyDeleteI have chosen to write on the health care topic of the budget relating to allocation of government money to low income seniors and caregivers taking care of disabled family members. This is a budget point that will be of increasing importance to a growing population of Canadians, namely the aging baby boomer population. This generation has had a significant impact on health care services, particularly as they become seniors, due to their high numbers in comparison to other generations. This will also impact the generation of Canadians assuming care for this aging population. The voting power of this significant portion of the Canadian population will likely sway toward the political parties who support these aspects of the budget.
ReplyDeleteIn the article, Scott Clark is stating that this budget has a bit of everything, for everyone. Which in the end, could have positive and negative results, depending on what parts appeal to each individual citizen. Although, I believe that having a Guaranteed Income Supplement for seniors is a good thing. Many people look forward to retirement age, and have many plans for what their going to do in retirement. But there are also many seniors who cannot afford to retire, or else retire from fulltime careers only to continue working in some part time capacity. For low income seniors, I believe that this income supplement will help them pay bills, medical expenses, and hopefully help some citizens enjoy their later years of life who otherwise would not be able to.
ReplyDeleteThere are two parts of the federal budget that I believe mostly impact me which are the education and training and also the job creation. The Liberals have introduced the education and training program and this specific program will directly impact me because I myself am a student and depending on income, students are able to receive 1,000 to 1,500 a year to go towards secondary schooling. This would benefit me because I will be receiving more funds toward my education and also I would be able to budget and organize my finances instead of waiting around for tax season to evaluate my finances.
ReplyDeleteJob creations for small businesses will impact me in the future because as a soon as i graduate I will be looking for a job and if there are no jobs available in the Canadian market, because of the recent economic down slope, then I will be an unemployed graduated student and my studies will not go to good use. During this time of disparity it is no secret that a lot of Canadians are currently laid off which has in turn created students future expectations about current availability of jobs to be troublesome. I think that with the government implementing the creation of jobs will help the economy strive and get on target for our future economy.
Clean energy research increasing by 100 million dollars for two years is a benefit for not only provinces and our country but also the world. I stress how clean energy is the future. More funding for clean energy research employee’s more workers in the clean field but also will gives Canada greater leverage as the world moves to clean energy. This component correlates with the EcoEnergy tax credit. The EcoEnergy tax credit is one that benefits my age group directly. As most young adults in my age group are looking to improve or buy energy efficient homes to save money and improve the environment’s status, the tax credit provides us with decreased cost expense for home improvements. With more spendable income consumers have the freedom to spent, stimulating the economy with higher demand for normal goods, creating more jobs, increasing GDP. The tax credit can also provide incentives to home owners and buyers to look for energy efficient home improvements. This can lead to an increase in jobs for those in a clean energy line of work. With the trend of clean energy becoming more popular the demand will also go up. If we have a higher amount of business willing to produce clean energy inventory the will help stabilize prices within the clean energy sector.
ReplyDeleteThe plan to cut down the 40 billion dollar deficit to get to a surplus situation would mean an ipact on all Canadians where personal taxes are concerned.Tere would be more money for social programs and so they would be more accessable for people. More money in education programs would help low-income earners get the education necessary to earn a higher income and therefore wouldn't be as dependent on government support programs.
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