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
Basically, everything that helps the economy to grow is good for us. There are several aspects in the 2011 Canadian budget that I found interesting. First, the government wants to encourage the creation of new businesses, by providing financial aid. They also want to help current small businesses so they are able to expand in the future. This will help the economy by creating new jobs and by increasing the business development rate.
ReplyDeleteAnother interesting thing I found in the document, is the fact that the budget includes incentives for the improvement of the current agricultural sector. The government wants to encourage farmers to create new ways of production and commercialization so that the sector becomes more efficient. This situation might impact the price in products like vegetables and grains in a positive way, increasing our purchasing power.
The budget also includes several points about enhancing financial literacy and consumer security. With the first one there are $3 million dollar to promote the development of education programs about financial issues. Concerning the consumer security, the government want to make the financial sector less dangerous and hard to understand. This by doing things such as getting rid of unwanted things like unsolicited credit cards.
Finally, something that cough my attention was that one of the main focuses of the new budget is energy. The government is trying to encourage industries and families to become greener. This will provide us with a cleaner environment and a peaceful life-style along with a good place to live for future generations.
As it was said in one of the videos that are in the CBC website, the new budget is focus on the people and sectors that need the most aid. However, it is very important to look at the big picture and analyze if the money that comes from the tax-payers is being spent wisely.
The federal budget was announced yesterday, in my opinion as a student the budget was really aimed toward the people and sectors that needed it the most. Unfortunately students were not any of those people. There were some benefits to the new federal budget as well as what I thought parts that could have been targeted more. The thing i liked about this budget is that the Harper government wants to have a surplus the year 2015 this would free up a lot of cash flow for other things that they cannot necessarily invest in now. A surplus would lead to an increase in infrastructure as well as innovation and more tax cuts for us, the tax payers. Another thing as a business student i enjoyed hearing is that the government is investing a lot of money and time into the energy sector. This energy sector with the price and oil and gas is expected to blow up in the next few years and to prepare we must start developing now. The energy sector is going to be the wave of the business environment. As a business student i enjoy the fact that new job opportunities will be there for me when I’m done school. Although it will not relate to my profession i really liked the government’s idea to provide student loan breaks to doctors that are willing to practice in rural areas. This has been a huge issue in smaller communities as they don’t have enough family doctors and wait times are long. This incentive to graduating doctors will give medical student and graduates the time to practice on a smaller level with student loan breaks to start their career as well as it benefits the smaller communities. A focus that i believe it should have addressed much more is education. We have seen tuition go up in the last year, again, and numerous provincial and federal education cuts. The Harper government must acknowledge that education is the basis for the future. Education is really the fundamental of the economy for the future. I think that more money of the budget needed to be allocated to this. In the end in true liberal fashion, the name calling, accusations and critical remarks are still flying around. Most stating that the conservative budget targets the sectors or people that needed it the most were targeted and did not appropriately address the needs of Canada and the average Canadian residence and tax payers. This I’m sure will swing a vote of non confidence in the House of Commons and we can all be looking forward to going to the polls again in the upcoming months. Personally i don’t think this is needed but this is what I believe will happen.
ReplyDeleteThe new federal budget releases a lot of small “goodies” that will affect many sectors of the Canadian economy. Hearing that the Canadian economy is getting better and job employment rates to be one of the best in the world is great news for students like us who are prepared to graduate in the next few years. Cutting the deficit down to have a surplus of 4.2 billion dollars by 2015 has allowed the government to be confident in what they have to offer for Canadians. It is heavily targeted towards people who require assistance the most like the poorest of the poor who will receive income supplements of 600 dollars for singles and 840 for couples. Forgiving student loans for doctors and nurses who plan to work in rural areas will cause more apprentices to take advantage of that possible route as well. The temporary hiring credit (EI premiums) for small businesses will help stimulate economic activity and provide more jobs within upcoming years. Capital cost allowance for machinery could lead to improvements within the agricultural sector by supplying faster and more efficient goods and services. If anything, the Gas Tax Fund of 2 billion will build more infrastructures and promote expansions in multiple cities. Some student benefits would include exam fees being eligible for tuition tax return and the extension of work-sharing programs. Overall, I believe that the budget does not include enough plans towards educational cutbacks and additional financial aid for students. The budget has little effect on me personally except for the boost to jobs available in the future and a return to the stabilized Canadian economy. However, with over 500M worth of investments toward eco friendly research and efficient energy homes, we can look forward to a greener planet and cleaner air to breathe in for everyone. I hope that Stephen Harper and the other parties can decide on something conclusively in the direction of a healthier and stronger Canadian market that gives back to its people.
ReplyDeleteThe new federal budget seems like it’s made for the growth in our job sectors. I really do like this since the jobs that are available (which I’m interested in) are either minimum wage un-related work, or 2+ years experience requirement.
ReplyDeleteI did want to go into auto-mechanics after my stay here at SAIT; unfortunately the vehicle industry was greatly affected by global events. This budget will help our local companies/business in creating a demand for workers by reducing taxes in small shops and extending the temporary accelerated capital cost allowance for investment in machinery and equipment. This will hopefully increase the demand of workers in the auto-mechanic industry. If it doesn’t, it will still help me in another way.
I am exploring the idea of joining our forces to get a fast tracked career in auto-mechanics. The budget has the "Improving Military Procurement”, which is a bursary to our forces to modernize our technology.
"This commitment has set the stage for a renewed relationship with Canada’s industry, knowledge and technology sectors, allowing unprecedented opportunities for every region of the country and creating an environment in which companies can plan ahead"(Budget, 2011)
In summary that will create more jobs in the Aviation, Air-craft structure, and vehicle technician areas in the forces. So if I cannot get a job in today’s economy, the army will need more workers since they will be receiving a grant to improve their technology.
Derrick Chan
ReplyDeleteEcon 250 - Section J
The new federal budget seems to be targeting the growth in the job sectors. which has been doing increasingly well compared to other industrialized countries.The goverment is saying the deficit is continually shrinking fast which allows them continue to fund this budget forward until they are estimating by 2015 where the deficit will be completely gone leaving us with a surplus. the part of the budget in my opinion which would be aimed at helping people like would be the number of measures aimed at students and on education and training. where for example, exam fees would be eligible for the existing tuition tax credit. as well as a temporary hiring credit going towards small business which could means more people will be hiring students in more small communities around calgary. 4 million going towards the tax credit to make homes more energy efficient will help me and my family out a bunch with the bills.
I have chosen to identify the outlined Job Growth in Canada from this year’s Federal Budget. Canada’s year over year Job Growth is up 2.3%, which is the highest growth within the G7 leaders. (CBC video) This is impressive, given too that this figure is significantly higher than all others – the next highest being only 1.2% (Germany), with the US a distant follower at -0.2%.
ReplyDeleteThis is definitely a positive aspect of the budget to report, given the recovering state of the global economy, I feel Canadians will be somewhat encouraged by this positive figure. It suggests our country’s economy is indeed starting to recuperate from the 2008 recession, giving Canadian consumers hope as well as confidence in the market. If confidence is up, people will likely spend more since they believe the economy to be stable, which will further boost its recovery.
This affects me in a positive manner. Since I will be graduating college in 2012, the report of positive Job Growth is encouraging for me as it suggests employment is rising, therefore it will hopefully be easier for me to secure a position post graduation.
Finally, as stated in the CBC article, this positive number gives the government room to spend on other items, such as additional educational tax credits and funding clean energy research.
The budget has touched on many issues, one of the more important issues being addressed is an increase in employment. If there is enough emphasis put on increased jobs there is increased income for Canada, thus, addressing the goal of strengthening our economy in the case that another economic downfall happens to occur. However, providing increased income to low-income seniors would result in more taxes being cut from our pay cheques, which will only get worse if the government decides to compensate Quebec their $2.2 billion for the HST harmonization. If Canada does plan on compensating Quebec and increasing seniors income and still wishes to stay strong, then it only makes sense that more money will be cut from our income to support these causes. In my opinion, it’s unfair for us to have to pay more taxes to support social programs that won’t benefit us.
ReplyDeleteThe 2011 Canadian Government Budget caught my eye on two specific areas. The student loan breaks and the financial help to small and large business'.
ReplyDeleteI believe the student loan breaks are much needed. Coming from a small town there was only 2 doctors that was in charge of 5 communities. There was always long waiting lines to get into a doctor and the doctors were both over worked and constantly on call. With having the student loan breaks available to new doctors not only will this help out the current doctors but also be the starting point of their new career.
With a recession, there were many individuals that had lost there jobs. Now with the government providing financial help to business' in Canada this means more job opportunities are available.
Both of these I believe will help the economy by getting both business going and having new and more employees.
The biggest thing I notice from the budget is the want for an increase in jobs in Canada. This doesn't directly affect me right now, but it will be good for the future when I am done school. It will slowly get Canada out of the economic downfall that has occurred. It will get people off the streets, and get more people off of employment insurance, therefore downing the amount that the government needs to fork out towards such programs, therefore where the money could be used somewhere else. It is a nice cushion for the future in my opinion.
ReplyDeleteOne thing that does bother me though is providing increased income to low-income seniors. It would result in more taxes being cut from our take home pay, which will only get worse if the government decides to compensate Quebec their $2.2 billion for the HST harmonization. I don't think it is fair that the hard working middle class always gets the short end of the stick. I do agree that the rich should help the poor, but it is biased it seems that Quebec gets this tax benefit, when other provinces that have HST do not.
On March 22, 2011 they announced a new federal budget. In the year 2015, it is an estimated that $4.5 billion will be left over. Canada’s deficit will be long gone and this surplus will be used according to the government’s discretion. To me, it is important that I have a job when I graduate from SAIT. So, one of the important issues I found was the increasing of jobs. Although it does not directly impact me now, in the future it will open more doors for all students. This will be great for the economy because Canada will be able to increase all of their revenue and productivity. With more jobs, there will be new opportunities for everyone and there will be less unemployment. Ultimately, this will all stimulate and regulate the economy. Canada does not have to worry about a deficit happening again.
ReplyDelete“Forgiveness of student loans of up to $40,000 for new doctors and $20,000 for nurses in remote and rural areas.”
This is a great way for rural areas to develop a lot more. Although this does not affect business students, this is the basis in which the government should be helping students. We are indeed tomorrow’s leaders and education is a top priority. They should implement more grants for Business students.
The federal has set a new budget to help finance the people and sectors that need the most help. There are some very interesting and good points that will help our economy today and in the future. I think the most important budget was the employment rate, especially in Alberta we have been in a recession many people have lost their jobs and are desperate to find a new job. This would also be a huge effect for us as students because in a few years from now we will be the ones in search for a job with this budget the federal government has addressed it will give us a better chance as Canadians to find a job.
ReplyDeleteOther important budget the federal board has addressed is government becoming more green with all the talk about pollution and greenhouse effect as the government of Canada we will we on it to help the environment. This will benefit us and years after it would help our ecological footprint.
Also the agricultural sector, the government wants to help farmers to discover new and productive ways to produce their agriculture. This would help them and us because this can impact the price of foods to go down increasing our spending rate helping out business’ then helping our people gain jobs from these business’ keeping our economy moving.
Also another important one my family loved is the government helping small business expand. Our family owns a small business and with all our debts we hope the government gives us a hand to expand. But also this will affect many people too because of more job opportunities for people to get increasing the employment rate.
I think the budget that was purposed had alot of good things in it for canadians like the defcit going down and being able to be gone by 2014 when we could have a 4.2 million doller surplus. with our unemployment the lowest in the g7
ReplyDeletethe suplement of low income seniors is helpful to the seniors who are retired and need some extra cash support another part of giving small business credit to hire more employees to reduce our unemployment some more is another good thing in the budget for canadians
The reduction to doctors and nurses student loans for doctors and nurses in rural communities is a help to get more canadians a family doctor
the tax credits to caregivers and art students and volunteer firefighters is helpful to give canadians tax breaks to those who need them and the ecocredit tax credit are really good for canadains
Preparing a budget for a country during the slow post economic recession is hard; having your main customer in an even worse economic situation (US) and the complexity of Canada’s size and population diversity makes the task even harder. But the budget presented on March 22nd is trying to give a little to everyone, instead of substantial budget for few stakeholders.
ReplyDeleteThere are four main issues that concern / affect me personally.
1. The temporary “hiring credit for small business" to facilitate job creation gives me the hope of finding a job when I finish my diploma, but the elimination on some subsidies to the oil sands, might affect the stability of the oil companies located in Alberta, threatening the growth of the Province’s economy.
2. The extension of the EcoENERGY Retrofit Program, gives me the opportunity to make my home greener while obtaining a financial aid, mainly considering I missed last chance to do it.
3. The 15% tax credit in children’s arts is also beneficial for me, since it gives me a better chance to improve the education for my family.
4. The fact that Alberta is receiving $247 less per person for health care compared to the rest of the Provinces makes me feel like the Federal Government doesn’t care that much for Albertan’s wellbeing, especially since the health services in the Province have a long way to go to become a proper health service.
I believe this budget is a tool to try to satisfy many people’s needs and we still have to wait and see if it becomes a reality due to the upcoming elections.
Generally, the 2011 budget is understandable. The purpose are of this budget are to increase employment, to cut financial deficit, and to keep economic growth. According to the government's plan, by 2015-16, Canada will have a surplus of $4.2 billion.
ReplyDeleteAccording to the budget, government will spend $150 million for Inuvik to Tuktoyaktuk highway. It means that more construction workers will be hired. This benefits construction students. In addition, government will spend $100 million for the clean energy research and $400 million for ecoENERGY retrofit tax credit. In another word, energy companies have higher budget in developing their business. They will probably hire more employees in this field. Moreover, another big benefit from the budget is to medical students. Government will forgive student loans for doctors and nurse to rural community and provide family caregive tax credit.
However, I don't see any big direct benefit from the budget to business students. The only one may be related to me is the “Temporary hiring credit for small business”. Regarding to this, small business could willing to hire more temporary employee because of the credit. That is, fulltime students may have more opportunity to find a job.
The part that I found most interesting from the 2011 budget was the $100M granted to clean energy research. Having just done a paper on this, it is good to see that the government is implementing subsidies by giving public research. This will help companies by cutting their R&D costs, which will help to stimulate the clean energy sector of the economy.
ReplyDeleteThe government is also influencing people to make their homes more energy efficient by implementing a $400M tax credit for ecoEnergy homes. This will help sales of energy efficient windows and other products that help to cut energy costs each year.
These two issues that the budget addressed will help to stop the threat of global warming by increasing the amount of green energy produced, and reducing the present amount of energy being used by the residential market.
Nicole Denhoff
ReplyDeleteECON 250-O
In this new federal Canadian budget, there are a couple of things that I feel will help me personally. One is making it easier for students to get loans and grants. This is nice because for a lot of young people to get loans you need credit, and it is hard for people to get credit if noone gives them a chance. For me personally to get a loan I had to get my parents to cosign so that I could actually get the money to go to school. With it being so hard to get loans to go to school, some people don't even want to try because they know they will get turned down. With less people going to school, that means there are less people graduating and less people that can be hired and to help our economy. The second thing I like are that they are wanting to help businesses in creating jobs, and I think this goes hand in hand with hepling people going to school. Because now people coming out of school can be more assured that they are going to be able to find a job once they get out of school. All in all, these things will be very beneficial in helping our economy.
This year federal budget has a deficit of $40.5 billions, but the government wants to eliminate it in five years. Generally speaking the budget is quite sound. I do not understand why the opposition rejected it. In my opinion, the government did very good job. One of the good signs is that Canada has the best job growth in the G7. There are a lot of problem that has to be resolved, but the forecast is encouraging. Here some priorities of 2011 budget that I liked:
ReplyDelete• Providing a temporary Hiring Credit for Small Business to encourage additional hiring by this vital sector.
It has a direct impact on me because Small Business in Canada provides a great amount of jobs and generates nearly half of the country's GDP.
• Enhancing and expanding eligibility for Canada Student Loans and Grants for part-time and full-time post-secondary students with an investment of over $34 million a year once fully implemented.
This summer I am going to apply for a grant or loan and it increases my chances to be approved.
• Announcing a two-year, $50-million Agricultural Innovation Initiative to support knowledge creation and transfer and increased commercialization of agricultural innovations.
I hope that program will help to get local fruits and vegetables in our grocery stores; because we support farmers from all over the world, but not from Canada.
• Providing an additional $100 million over five years to the Canadian Food Inspection Agency to improve food inspection capacity.
In Canada we have a lot of food stuff that comes from foreign countries and this program gives us a chance to be protected.
• Marking the 100th anniversary of the Calgary Stampede with $5 million toward the anniversary celebration.
Calgary Stampede is a festival which loved by many Calgarians and I am not the exception. :-) I am sure that the anniversary is going to be something extraordinary.
• Investing $20 million over two years in youth crime prevention programs.
Last years the youth crime rate has been growing rapidly; so we have to do something to help young people to find the right way. During the last few months we have heard about several offences committed by young people in Calgary.
• Allocating $21 million over five years to upgrade baggage scanning equipment at Canadian airports.
This step will help to keep our air space safer and Canadians will feel themselves securer.
Amanda Montero
ReplyDeletesec J
To much for Canadians!!!!
Politics are always hoarding attention and the people will fallow them, this budget is something irrational buy at least they are going to focus on the areas that are really needed. In Canada there are many programs for poor people and that is all supported by taxes paid ether personal or company. The Government of Canada is very generous and with worldwide economic crisis it is normal that this happens but the contradiction comes when statistic shows that living standards in Canada is each day higher. The Gross Domestic Products in Canada is continuing expanding, especially by the production of larges industries and despite this they still are shorting the budget.
After having reviewed the CBC article, and watching the videos posted along with it, in my opinion, this new budget is 100% political, and has very very little to do with satisfying the wants and needs of Canadian citizens. All parties are fishing for the senior vote, and it seems that the conservative government is handing out a little bit of money in many different areas to appeal to everyone in some way.
ReplyDeleteThat aside, I would be most affected by the Children's Arts Tax credit. Now, this would no longer directly affect me, but it would affect my younger siblings. My 5 year old sister is getting into skating and all kinds of other soprts, and enrollment is not cheap! My younger brother is a talented musician, and his drum and piano lessons don't come cheap either. For my parents, receiving a tax credit on these things would cut those costs and allow them to "loosen the belt" so to speak. The increased funding for elderly people may affect our family as well - my grandparents in particular. While I'm not sure if they would qualify, if they did, it would mean more money in their pocket. It would mean hiring someone to fix the furnace rather than my grandfather trying to do it himself. Or hiring someone to do snow removal when the grandkids aren't available to do it for them. Or not having to choose which medication to buy because they're all so expenssive. It would mean a better quality of life.
Having said all of this, I still think this budget is too politically oriented and not oriented enough toward the needs of Canadians. I'm sure this will push for an election.
This comment has been removed by the author.
ReplyDeleteLoida Basilio
ReplyDeleteEcon 250 - J
The 2011 federal budget includes many “goodies” for almost everyone. There are two components that caught my attention: 1) provision of $870 million to address climate change and air quality 2) Supporting job creation.
1) With the government providing money to support the extension of ecoEnergy Retrofit, it will support homeowners to make their homes more efficient and reduce the burden of high energy costs. This is a necessity that is needed in our home. Therefore, we always pay the amount of energy cost that is used up monthly no matter how expensive it maybe. With this program being supported by the government, it will help us tremendously because it will lower the monthly expenses our house.
2) With the government supporting job creation by “helping businesses and entrepreneurs succeed, keeping taxes low, investing in projects of national importance, and maintaining Canada’s brand as one of the best places to invest”, this benefits me as a business student because it will increase job opportunities for me after graduating. Government helping small businesses will help flourish the economy, because small businesses are what drive the economy. Therefore, in couple years, with small businesses improving and becoming bigger, it will give me more opportunities to find a job under the business field.
Overall, this new budget plan increases the employment rate of Canada and helps families such as mine save money.
I think that the budget was in all fairness. I liked how the Government did not want to make a social program for all seniors, just the ones that badly need...makes sense right? Why pay so much for to give support to rich seniors.
ReplyDeleteThe second part of the budget I like was the student loan forgivness for doctors who are will to practice in rural areas, but one thing I disagree with is that now when the doctors are done studying medicine will most of the go to farming towns to work their instead of the cities, well the cities have a short fall of doctors.
The third thing that I enjoy reading was that the Government wants to have $100 Million clean energy research fund. Which will make sure Alberta's economy will stay on top and keep people empolyed and make sure the Environmentalist are happy... I have family from USA and they told us that they do not hear or refer to Alberta's oil as "Dirty Oil" I was surprised...lets face it if Alberta did not have the oil we would be a "Have not province".
Another thing I ike was the temporary hiring credit for small business, this will help employ people and once we have a higher percentage of the willing and able workforce are economy will boom once again; becuase they will spend money and so on.
With recent news we all heard that the budget was rejected, well it cost so much to run an election, that do we really need an election at time when our economy is not as strong as it can be?
Maybe the Librals, NDP and the seperatist group were thinking too much of that party want instead of what is best for Canada at the present time.
Cody Dickison Econ 250 - H.
The new federal Canadian Budget seems to be oriented towards just people who really need it rather than everyone which has helped to reduce the $40 billion defecit in Canada. While the the opposing parties are against the budget because their requests were not fully met, it's not so bad. Getting out of it's defecit could help as a economic stimulus as people will see that things are finally turning around, it could also give morale to those looking for jobs and it would also mean that there will be more money to spend later.
ReplyDeleteSome of the things that would affect me personally would be the temporary hiring credit for small businesses which would probably help with finding a job after finishing school. Some other things would be the $100 million for clean energy research which will hopefully help extend the life of the planet, not just for us but for the future generations as well. Lastly, the $400 million for ecoENERGY retrofit tax credit would help out my family, as well as myself reduce energy costs and help the protect Earth.
From microeconomic view, I would like to pick some points of the federal budget which I think have effect on myself. First, deficit is down and going to be surplus of $ 4.2 million in between 2015 and 2016. The amount of dollars is available in market will increases demand and finally pulls the economic goes up. We have more money to spend and enjoy life much better than last couple years. The video reported Canadian has a biggest job grow in the past 18 months. Moreover, credit for small businesses that also means by the time I graduate at SAIT, I could have a big chance to run my own business with government support. Demand of workers increases, I will have more opportunity to get good jobs. Money is for people who need it not for expensive social programs. Many people are losing jobs, houses, cars, etc, everyday. Some people even don’t have enough foods, drinks, and basic living conditions to survive. Next, as the climate changes badly now, weather is getting hotter, ice- berg is melted in the North quickly, earth-quake and tsunami happens frequently, so if the government spend $ 100 million for cleaning energy research, we can have more options of energy to use not only gas. Price then will go down, and consumers like us earn benefits. It is definitely easy to see the prospect of more safety and cleaner environment in future. And I also saw that NDP leaders debated about having this federal budget happened. They said these supports from the budget didn’t go far enough. However, I think it is much better to start doing something now than just waste time and money to build up plans and plans which help nothing for us. Basically, I personally get a lot of benefits if this federal budget works well like what it was planned. From watching this video, reading the note below it and doing some online research, I see that this federal budget has realistic, humanistic and appropriate morality view.
ReplyDeleteLan Nguyen ( Econ 250J )
Well once again it was budget day in Canada, Jim Flaherty went out and resoled his two-hundred dollar shoes instead of splurging for a shiny brand new pair. This was a hint of things to come in the budget, which really meant that there was going to be no significant new spending. In fact, new spending came in at 2.3 billion this year which translated to 1% which is the lowest increase in years. And look at what this new budget is providing, another federal election. This will be the fourth time in seven years that we Canadians have gone to the poles. I think I want to be in the election sign business.
ReplyDeleteWith the Liberals, NDP, and bloc all rejecting this budget, that means that the 2011 budget is just a document and none of it will come to fruition. However, if the 2011 budget were to have passed, one component of the budget that would impact me personally would have been the introduction of legislation to reinforce the stability of Canadian housing finance and strengthen the mortgage insurance regime. This would have complimented the change that has recently happened in the mortgage industry that relates to the maximum number of years that a mortgage can now be amortized for. The new maximum is 30 years down from 35. This may keep some first time buyers out of the market a little bit longer but Canada needs to make sure that our housing market stays intact. Nobody wants to see a housing market meltdown like the United States of America is experiencing. From a financial perspective, personal real estate is one of the only ways to make money in this country tax free legally. The Canadian government along with the banking industry needs to do everything possible to ensure that Canada’s real estate market stays strong and healthy, whichever political party is running the country.
Bill Makson
501204
The 2011 budget, put forward by the Conservatives, includes $5 million to help promote the 100th anniversary of the Calgary Stampede. This will have a profound impact on just about everyone in Calgary, as the Calgary Stampede brings in huge amounts of revenue to small and large businesses alike every year. Everything from hotels to restaurants to grocery stores see large jumps in their income every time the Stampede happens. With an additional $5 million helping to promote the Stampede, these businesses will see an even larger jump in their revenues and will further serve to put Calgary on the map as a world class city.
ReplyDeleteThe 2011 budget that has been released by the conservative government is slated to be the “low-tax plan for jobs and growth”. Being a student currently taking classes full time, this has a beneficial effect on my success and worries regarding being able to secure part time or summer work while I am in classes. This is due to the elastic demand on part time workers. The demand for part time and summer workers is dependent on how much money businesses have in their budgets. While there are many factors that impacts the amount of money businesses have for the employment of workers, it is a positive relationship, with the more money that businesses have available, the more employees they are able to employ. How the current budget works to increase or maintain the amount of money that potential employers have, is by choosing not to cut current funding to corporate taxpayers. If the Conservative government would have cut these tax breaks, the businesses would have had to pay more taxes, decreasing the amount of funds that they have available for everything, including employment. While this does not give me a direct increase in the amount of disposable income that I have, but either increasing the minimum wage, which would have a positive relationship with the amount of disposable income I have, or by decreasing the amount of taxes that I pay, which would be a negative relationship, as as taxes drop, I have more disposable income without having to have more money leave the companies pocket, it would make it easier and more likely that I would be able to find employment. By keeping tax cuts implemented, businesses will be looking to maintain their current workforce, or even increase it, making the supply for workers begin to increase, which will in turn lessen unemployment for all people, not just full time students. So in essence, taxes that a business pays and the amount of employees they have is a negative relationship. As taxes increase, employment decreases and vice versa.
ReplyDeleteThe 2011 budget has many different aspects too it but I think the one that is going to be most impactful towards us as students, especially students in business administration, is the governments want for new business. The government wants entrepreneurs to create and maintain business because this is good for the economy. Things such as a temporary break on EI premiums for small business or the extension of work sharing programs will be brought in. They will be giving aid to create new business as well as to help already made small business to expand. I think this is important for us coming out of business and looking into the world ready to create our own companies. It gives us more opportunity and more motivation to pursue self-employment and start organizations of our own.
ReplyDeleteSomething else that is more direct towards us as students in the present is that they are trying to help us in our education and training for our jobs. They say that other expenses such as our exam fees would now be eligible for tuition tax credit. This just gives us more money back in our pockets that we can put into the economy. Although it doesn’t affect us as business students, a big point in the budget is the student loans for new doctors and nurses being forgotten. I think they should bring some allowance to the business department of education, give us some loan allowance or more grants!
The new 2011 budge for Canada is intended to help as much people as possible. A few topics have caught my attention in the new budget.
ReplyDelete1) Encourage the creation of new businesses by providing financial aid. I am interested in this topic because after schooling I want to start my own business with my sister. A low-tax plan for jobs and growth is important for the ability for business and entrepreneurs for growth opportunities and creating jobs. This will help small businesses take advantage of emerging opportunities and compete in the global economy the government has taken action to address obstacles that entrepenures face by reducing taxes and red tape, thus, improving access to business financing.
2) Canada’s Economic Action Plan also touches on the topic of promoting education and training. Canada’s long term prosperity depends on educated and skilled workforce. The Budget of 2011 will help Canadians get a loan or grant, improving tax recognition for education expenses, investing in adult basic education, and make possible skills recognition for new Canadians. I am most interested in on this topic is the ease of accessibility of getting student loans and grants.
These two issues that I have addressed will help the economy along with all the other topics covered in the 2011 budget. Overall people will save more money with the low-tax plan for jobs and growth as well as accessibility of receiving a student loan or grant and the reduction of the interest rate for part-time students from 2.5% to 0%, making everything more affordable for more Canadians!
Bonnie Hjorleifson
ECON 250-O
In new Federal Budget 2011, there is one component which Supports Job Creation is very good. This Economic Action Plan is mainly through a low-tax plan for businesses and entrepreneurs to respond to emerging growth opportunities and create jobs. This plan can directly reduce businesses’ expenditures so that profits increasing, so businesses’ life will last and operators’ enthusiasms will hold on. Its specific measures include
ReplyDelete• Providing a one-time Hiring Credit for Small Business of up to $1,000 against a small firm’s increase in its 2011 Employment Insurance (EI) premiums over those paid in 2010 to encourage hiring.
• Providing assistance to Canada’s manufacturing and processing sector by extending the temporary accelerated capital cost allowance rate for investment in machinery and equipment for two additional years.
• Renewing the Best 14 Weeks and Working While on Claim EI pilot projects for one year.
• Providing $20 million over two years to help the Canadian Youth Business Foundation to support young entrepreneurs.
• Reducing red tape to lessen the compliance burden on small businesses through the Red Tape Reduction Commission and upgrading the BizPaL service.
This Economic Action Plan has a good impact for Canadians. The above measures mainly encourage and help people to create job and improve the employment. If the employment is increased so that Canada is able to attract the outside talent and retain local talent, so the economy of Canada will be increased. If the employment is increased, the application of low-income will reduce, the government subsidy will reduce relatively. There is an important thing is crimes will be decreased if the employment increasing. Encouraging and helping people to create job, on one hand, it can decrease the unemployment rate; on the other hand, it can attract foreigners to investment immigration. That will be a substantial additional income for government. Of course, it also can attract much more foreigners to study in Canada. This plan will have a good influence for me. I will graduate after one year; this plan’s implementing can improve the employment, so I will find the job easier. If I do not want to be hired or I cannot be hired, I can create job by myself or with my friends. There will have more than one ways to develop my career in Canada.
In the budget they talk about how they will give a temporary hiring credit for small business, they will give Capital cost allowance for machinery and 100 million for clean energy research. This affects me if I am going to look for a job that is in a small business that they can hire people because the government is promoting small businesses and giving them the budget in doing so. Another thing that is kind of targeted toward me is the clearing out of student loans however that is only for doctors and nurses in rural communities, so it kind of refers to me because I am a student, but still the budget has failed to see that the students need more of a break and make it less expensive. For students in business this is actually a good way to start if you want to be an entrepreneur and start your own business that the Canadian government will help you make the goal of starting your own company become realistic. For when it comes to students and how only doctors and nurses forgive their student loans is not fair for the rest of us, they need to make schooling less expensive or they need to give more loan allowance and more grants/scholarships available to the student body. If they are going to do something for doctors and nurses they should do more for the business people, and to the trades people as well, not just one community
ReplyDeleteThe new federal budget for Canada affects just about everyone and hopefully in a positive way. A few key points within the budget will be very beneficial to me.
ReplyDelete1) The budget is focusing on "job growth" as a priority in this year budget. This mean there will be more opportunities for employment in the coming years. While this doesn't affect me currently, it will open up doors once i finished school.
"The budget includes a one-time hiring credit for small businesses that is worth up to $1,000 against a firm's increase in employment insurance premiums due to new hires."
This point will encourage business to open up more jobs plus it will extend the lives of small business because that will be able to have money to accomplish more
2) By 2015, the budget aims to go from a deficit of around 40.5 billion to a surplus of 4.2 billions. This is a dramatic change in the economic due to having more money equals to a better lifestyle. This type of change will help continue getting out of the recession state and allow the economic to reach pre-recession level.
3) Finally the budget will help the promote the 100th anniversary of the Calgary Stampede. Living in Calgary, the Calgary stampede brings of economic growth for the city due it being a premier tourist attraction. Receiving 5 millions from the budget will help the event advertise more and possibly bring in more special attractions or even entrainment. Being able to celebrate any kind of event for its 100th year will truly be spectacular!
Well the 2011 Canadian federal budgetis aimed at overall job creation and to lay down a sustainable economic growth. After watching the video Sheila posted on our blog site, I was definitely excited to see that Canada has the strongest employement growth out of the G7. This makes me feel that after I graduate from SAIT, I will be able to enter the job market with ease, and be able to start my career faster, thus making the transition easier to pay off my student loans and live.
ReplyDeleteAccording to the Federal Budget 2011 transcript the government is willing to offer a one-time hiring tax credit of $1000 to small businesses and providing $20 million over 2 years to the Canadian Youth Business Foundation to help support young entrepreneurs such as myself and my peers attending Business schools across Canada. Giving us a much needed incentive to create new businesses in Canada to help the overall economic growth.
As a student taking advantage of Canada student loans and grants, I was happy to see that the government is extending and enhancing its funding for this. The gov't wants to up the income exemption up from $50/week to $100/week in order to assist 100,000 students to allow them to work without affecting their loans. Increasing the income elegibility threshold will also help students with non-repayable assitance grants, that I think lets more young people take advantage of getting an education they need, while saving money(FederalBudget,2011).
The projection that the government has by 2015 to have a surplus of 4.2 billion dollars over the deficit is absolutely tremendous, and I think that Canadians and especially other parties involved need to support and embrace what is being presented. You can only rebuild one step at a time, and currently getting Canada out of a recession is a focal point in my eyes.
The 2011 budget has proposed that Canada’s debt will be gone by 2015, this is great for economic growth of Canada, and the economy can begin to pick itself back up, along with the enhanced guaranteed income supplement for the low income earners should really allow Canadians to get back on their feet as they put money their money back into the economy. “Now that a $60-billion stimulus plan to get through the economic downturn is wrapping up, the government is entering a transition phase to move Canada along the path of economic recovery, Flaherty said.” As far as being a student goes some “goodies” will be that student loans for doctors and nurse will forgiven. Even though the budget doesn’t directly affect me, with growth of the economy from the proposed budget the life of a student should get less problematic. The biggest impact on me will be the temporary hiring credit for small businesses as this will allow my father to hire more employees and increase production. Stephen Kamphuis
ReplyDeleteThe main part of the budget that interests me most is the focus on creating new jobs through the small business hiring credit, and through starting projects such as highway construction in Nunavut. Though it doesn't impact me directly right now, it will impact me greatly in a few years. I will be entering the workforce very soon, and having more jobs out there means that I will have a better chance at getting a better job. The impact that this will have on all Canadians is positive. It will lower unemployment rates and help the economy grow.
ReplyDeleteAnother point that I am glad to see is the forgiveness of student loans for doctors and nurses in rural areas. This will encourage students to work outside of big cities, which will help shortage situations in rural areas. Again, this does not impact me directly as I am not a nursing or medical student. Even so, I am glad to see that the government is thinking about students. This is a step towards helping students to afford post-secondary education.
Basically the new budget was dropped in order to try to save the Canadian Government for sliding into an exceptional amount of debt. Even though they claim that this is going to help us rise above our countries current economic recession, some areas where they took funding away and some areas where they increased funding dumbfounded me. Such instances as spending ten million dollars on the Calgary Stampede and The Grey Cup combined are a little bewildering. These events do generate a lot of income for the particular cities in which they are held. But is this really the need of ten million dollars? Most of this money will contribute to advertising or creating better venues for the events. It is this kind of spending that I do not support in the new budget. I am a very avid sports player and enjoy the entertainment it provides, but it’s not worth having increased debt. I believe that the NDP leader, Jack Layton, was correct when he said “Steven Harper will work with no other parties to introduce measures that would help Canadian families and seniors”. This money could have been directed to help these people who are barely making ends meet. I believe that in the current economy it was smart to only include $ 2.3 billion on new spending, and only have a one percent increase. The money has more and better opportunities then where there currently aiming to spend it.
ReplyDeleteThe new federal budget seems very promising for Canada. First of all, the news that Canada will get over the deficit that is currently in, and will have a surplus of $4.2 billon is very convenient for college students like us. This will increase the demand for jobs in different positions which will increase as well salaries in jobs that already exist. For example, a person working in Mc Donalds seen that he/she can make more money working for one of the many businesses will obligate somehow companies to raise salaries in order to do not have a shortage of employees.
ReplyDeleteThe fact that Canada is in this moment one of the best countries in the G7 shows how good Canada is doing right now compare with other countries. Moreover, the incentive for small businesses is a good opportunity for new entrepreneurs to get into different markets this will stimulate the economy generating more jobs, and also encourage Canadians to start investing again after the big recession. Finally, as a strong believer of safer planet, I think the extension of the EcoEnergy retrofit program is an amazing idea. It will make homes in Canada greener while we get financial aid.
The federal budget was released Tuesday March 22nd 2011; and some say "There seems to be something for everybody," but with a federal election around the corner the federal budget is being scrutinized as being a "purely political budget"(Fitzpatrick, 2011).
ReplyDeleteThe federal budget isn’t geared towards students but there were some aspects that will affect students. Since I am a full time student and a part time employee the aspects of the budget that will personally affect me are; the tuition tax credit that will now include examination fees and money spend on the promotion of the Calgary stampede. I am a business student majoring in accounting and down the road I will be required to write exams to achieve my CMA designation. The following source (CMA, 2009) explains the rate for writing a CMA entrance exam will cost $950.00 plus GST. Obtaining tax credits for these types of examination fees would be just as helpful as getting tax credits for tuition costs. The extra money spent to promote Calgary stampede is beneficial to students because the extra promotion will hopefully increase attendance at the Calgary stampede, which would mean that more people will be needed for employment.
In conclusion the extended tax credit for tuition may be the extra push to persuade students to write all the mandatory tests to achieve their specified designation. Once obtaining their appropriate job title with all qualification met they may be able to enter a higher paid career. With more employees needed during Calgary stampede this could benefit students who are seeking employment over the summer break after classes commence.
Lindsay Carnevale
The component that I have chosen is Government’s low tax plan for job and growth of the economy. According to me creating more jobs is a right decision which will bring back Canada’s economy back on the track. The government decision of creating more jobs and investing money in small businesses is exactly the right time for me as, I will be graduated in two or three years and it will be the right time for me to find myself a good job. The government has decided to support job creation by helping business and entrepreneurs succeed, keeping taxes low and investing in projects. As the private sector is moving towards growth and job creation it is the right step of the government to get back on the track. There is a very good prospective in the budget which states in improving commercialization and supporting demonstration of new technologies in the marketplace by supporting research links among colleges, universities and businesses.
ReplyDeleteAs a student, the aspect of the budget I care about is education. It is reported that the budget will support Canadian students abroad. After the government realized the importance of students pursuing the best educational opportunities available to them, there are relative supports in the budget. Canadian student must be enrolled in a program lasting at least 13 constant weeks, which mean they have to pay the full tuition and textbook. Although they are eligible for the tax credits and to receive educational assistance payments from registered education savings plans, it still costs them a lot. In the budget, the requirement applying to in-Canada studies, is reduced to three consecutive weeks from 13-week minimum duration with respect to the Education and Textbook Tax Credits. The tuition tax credit and educational assistance payments will also be reduced to three consecutive weeks. From this, the cost of abroad student will cost much less than before.
ReplyDeleteFor me, this measure does not impact me at all. As an international student, I still have to pay for the full time study fee by myself and the fee that I pay is still much more than that of the local students. Many international students are not able to work, so they receive money from their parents. So do I. The tuition tax credit does not apply to me. I am eligible until I start working after many years of study. Therefore, the measure above does not cover international students.
The most interesting facts, about the announcement of the federal budget that will affect me the most, although small, is the 5 million invested in the Calgary stampede 100th anniversary. This is significant for me on a financial level because of where I work. I currently am employed at the international hotel. This money will affect me on a personal level because most of my income is generated off tips. With this money invested it has allowed the city of Calgary to create more events and hype surrounding the already crazy downtown Calgary stampede environment. This has created an even greater demand involving reservations at the hotel. People also have already been inquiring about shuttle service to the grounds as well as other events around the city. This has created a unique opportunity for me and my organizational skills. I was very pleased to read that this was one of the many important government budget tasks.
ReplyDeleteI think that the budget that was introduced will be a huge thing for Canada. It is great that the government will be spending more money on the citizens while getting rid of almost half of the huge deficit that Canada has. Canada is in debt almost 40 billion dollars and the government plans to get rid of this huge debt by 2015, and hopefully by 2016 Canada will have a surplus of 4.2 billion. Most of the budget is directed toward business owners and to people that own houses and are already successful and not really to students. The budget is also geared towards the environment. This budget has been said that it is a “dogs breakfast,” this is because there are a lot of small goodies for everybody. There are a lot of small but nice tax cuts for people such as volunteer firefighters. Family caregiver tax credit which is given to people that are looking after family members that are ill. They are given 15%. The government is also offering to drop student loans for doctors that are going to practice in rural areas. This kind of relates to me because I have student loans and if I was in that practice then it would help me out with that. The budget and surplus will be good because there will be more jobs for us when we get out of class. There will be more people that will be willing to hire people that are right out of school and that is a part that relates to me.
ReplyDeleteOn March, 22, 2011 the Canadian federal budget was announced concerning a great increase in our economy. In my opinion the aspects announced in this budget are positive and would steer our economy in the right direction. The government wants to encourage entrepreneurial businesses, by providing their full support and financial aid. The government also wants in this budget to help current small business owners to be able to expand their company more in the future. This will help the economy because the increase in entrepreneurial projects being successful in Canada will increase the number of available jobs for students like me. Something else that I had noticed on this budget plan that was mainly being targeted was energy. The Budget is trying to insist that corporations and the public use cleaner sources of energy. This will provide us with a cleaner environment and will support are future growth plan, for the next upcoming generations. Harper government is expecting a surplus of cash flow in 2015 this will give the public buying power during this period and when the people have a surplus of cash they will buy larger sums of products also shooting our economy back up to a comfortable level.
ReplyDeleteSome interesting aspects outlined in the federal budget were greener energy initiatives and education tax credits. I thought it was good to see that there was more of a focus on initiatives that promote development in the energy sector. I believe that if there are grants and subsidies for businesses in this sector it will benefit the economy and the planet and help to prepare Canadians for the future. It is nice to see that instead of only looking at our current energy sector and being satisfied with what it will produce, the government is planning ahead for alternatives and giving small businesses the resources necessary to develop this industry.
ReplyDeleteI thought that there should be more consideration given to education cutbacks and grants and subsidies for students. Obviously, as a student, I understand the importance of having an education and how a highly educated population increases development. I would like to see more opportunity for people to apply for grants especially for people who are considering a career change or who are upgrading their education. It is difficult to make the decision to return to a post secondary institution once you are in the workforce and are used to an income. Government grants would help to make this transition for people easier and more enticing. The benefit of individuals returning to gain a higher level of education benefits us all.
The new 2011 federal budget will increase the employment rate, and the government will provide financial help to create more job opportunities for people. Since 2008 economy recession, many people lost their jobs. Canada economy has been boomed up a little bit from the global economic recession compare with other industrialized countries. Therefore, this year’s federal budget focuses on encouraging employment. For me, this is a good new because I will graduate from SAIT next year and I need to find a job. That means there will be more job opportunities, and I can get a job more easily. Moreover, it will benefit for students who will graduate in the next few years. Also, it will increase the benefit for the low-income seniors because of the new federal budget. However, it is not fair for the hard working middle class Canadians and families. They will receive the income supplement $600 for singles and $840 for couples per year. On the other hand, it will make the people who have high income upset. In addition, there are no personal income tax cut in this budget, but government will help individuals, workers and families through other measures that help them save their money. As CBC news stated, the gas fund will provide $2 billion per year for infrastructure. I think that will not only benefit myself, but also benefit people who live around the city. In other words, we can enjoy more public facilities such as park, bus and path around the city. All in all, this new federal budget will hurt some people but at the same time benefit some people. The increase of the employment rate is a good news for me.
ReplyDeleteEcon-250-O section
In general, I feel that Canada's newest budget is beneficial overall within the economy. The ecoomic action plan is continuing into 2011. This will help to reduce unemployment, as well as reduce the deficit that Canada currenly has. What I find most important (seeing as I will be going starting my career in a few years) are tax breaks to mostly small, but all businesses. Which will be beneficial in afew years when alot of us are getting into the work force, it will encourage companies to increase their staff. As far as my activities as a student is concerned, the new student grants and tax cuts will be majorly beneficial in helping me pay for school, as well as rewards for my time and efforts. However, I feel that Canada's government is greatly focussing on increasing employment, which overall is greatly beneficial, not only to the individual, but to the economy as a whole
ReplyDeleteThe budget interests me in the way that Canada is now focused on creating jobs and stimulating the economy. By creating new jobs, it will lead to the creation of more public projects and these projects would lead more money that gets injected into the economy and would create a stimulus which would lead to more spending and a step in the right direction while recovering from the current economic downturn. The new temporary break on the EI premiums for small businesses would lead to more individuals looking to start their own small business as the owners wouldn’t have to pay as much for the premiums that previously affected them. The introduction of new small businesses would also encourage people to spend more money because many people become loyal to the small businesses and are looking to support them instead of the big industrial giants such as Walmart. The extension of the work sharing program is also supportive in an effort to try and re-establish the economy to where it was before. The work-sharing program helps employees and employers avoid temporary layoffs during a tough economic period as well as provide them with the proper employment benefits. By continuing this program it keeps a lot of individuals off of the streets and keeps them employed where they can support their families as well as inject more of their money into the economy. If the government doesn’t address the issue of keeping these small businesses and employees in a job, then they can’t expect the economy to recover because there will not be anyone to inject money into the economy.
ReplyDeleteThe new budget was dropped slightly to try to maintain our goal to reduce our countries’ debt. But one area where they did not reduce spending, which is very important is the new clean energy section of the 2011 budget, $100M is being invested into clean energy research, which is highly important as the majority of energy being provided to Canada is explosion energy which releases emissions, and, as a result, will never be clean energy and will always need improvement. This is a never ending cycle and needs to be replaced with Implosion energy such as solar power and wind power.
ReplyDelete$40 M is being allocated towards Sustainable Development Technology Canada to support to development and demonstration of clean energy in Canada. Which is a highly important section of the budget as this will allow for the first real “push” for clean energy that Canada really needs.http://www.newswire.ca/en/releases/archive/March2011/24/c6108.html
If Canada chose to implement more and more implosion energy sources we could unlock 5,000MW of geothermal energy available to us. This would provide a substantial amount of new energy to Canadians. Increased tax support for clean energy research will also provide some of the costs it would take to install many of these implosion energy sources and ultimately will reduce costs through energy saving.
The new federal budget has been announced two weeks ago. The budget has proposed a lot of changes in the country's budget allocation. One component of the federal budget would sure have an impact on me, the hiring credit for small businesses. The budget 2011 introduces a one time Hiring Credit for small businesses to encourage new hiring. The credit would allow small businesses up to $1000 against their increase in EI premiums for 2011, over the amount they paid into the fund in 2010.(CCA) Since there is a large percentage of small businesses over Canada, I believe that employment growth would be seen in the future. That growth would give us, students who would graduate soon, advantages. It would also increase the productivity of the country and thus, we would expect a higher GDP.
ReplyDeleteThe new federal budget of 2011 has proposed a lot of changes. The fact that it promotes putting $5 million into helping to promote the 100th anniversary of the Calgary Stampede, would be the component that would have the biggest impact on me.
ReplyDeleteCalgary is known all around the world for the Stampede and every year that is has been held it has had amazing turnouts and the whole city has benefited financially from it, in the fact that the Calgary Stampede attracts a lot of tourists and increases many revenues throughout the whole city.
I work at the Stampede at the ticket booths, so if this budget went through with putting $5 million towards promoting the Stampede's 100th anniversary it will be even busier than it already it, we will be increasing sales and our revenue and ticket count will rise quite rapidly
As expected, the new proposed budget was filled with measures to keep Canada up float through the global recession.
ReplyDeleteThis is a budged created to protect important issues in Canadian society: health, seniors, and small business.
The new budget will have a positive impact in me in Macroeconomic terms as it will keep the economy growing which would be translated in job creation, which will increase demand for goods and services and will eventually lead Canada to fill the economic gap and achieve the projected 2015-16 fiscal surplus.
As the Government continues to incentivize the economy through the creation of employment by providing small business with tax and premium breaks, it will further lower the unemployment rate. The creation of employment is vital for the economic recuperation of Canada, as it will allow the demand and supply forces of the market take control of the economy.
Although I am not a senior or at age of retirement, the new federal budget will have long term effects in senior’s programs, pension plans and supplementary income plans that will benefit the elders in my family and the Canadian society as a whole. Strong retirement plans and decent conditions for elders are important for today’s work force. It secures a future retirement and allows seniors a higher income without a dependency on government social programs that put a strain in the economy.
Finally, health care is a topic addressed in the budget. The proposed budget is trying to incentivize the healthcare workers to work in rural areas. This program will promote that farmers and producers of raw material in rural areas in Canada will have access to good health care services allowing people to stay and work in the rural areas. This will increase agriculture supply, lower the cost of raw materials and favor the common citizens like me.
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ReplyDeleteOne component that I thought is very interesting, and that I will benefit from it is the addition of the new technology plan in the 2011 Federal Budget. The distribution of funds to research environmentally friendly energy technologies is a positive step towards a greener country. geothermal energy, as a renewable energy source, not only provides a clean and renewable option for electricity generation, and also efficient and competitive heating options for Canadians all over Canada. According to the federal budget released, “electricity generated by geothermal energy could replace approximately 10 nuclear power plants and provide up to 10% of Canada’s total electricity generation as of today. It could provide more than 9,000 permanent jobs and approximately 30,000 temporary manufacturing and construction employment”. Therefore distribution of funds for technology and innovation in the areas of clean energy will have a huge impact on my life style. Not only producing renewable source of energy, also have the benefit of constructing number of jobs for those who are unemployed. Also increase in number of jobs will have a huge impact on me when I graduate from school; I will be able to locate a job, easily.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThe proposed federal budget calls for the spending of $20 million over five years for baggage scanners at airports.
ReplyDeleteEveryone is well aware of the security threats that have become a great issue in the world today. the increased spending is an added measure to ensure the safety of the public and for those who use airtravel as a form of commuting.
This has a significant impact on me since I do quite a bit of travelling internationally.The investment on new equipment can drastically reduce waiting times while travelling through customs. more importantly, it provides greater safety for everyone that works and uses airports
Michelle Cheung
ECON250(H)
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ReplyDeleteTianLing Wang (ECON 250-H)
ReplyDeleteOne of the many points that were identified for the budget this year, and I took a specific interest in the increase of Job Sector. This is the most likely factor that will have the greatest impact of my life, because I am at an age where I am in need to support myself and let go of my parents’ guidance in life. Last two years, the availability of jobs is very low. With low job supplies, people pay less attention to the quality of the jobs for they don’t have a lot of choices. Increasing the number of jobs will make the citizens better thus improve the quality of works. As we have learned in Economics, the economy as a whole is a big circle, where to money transfers from households to businesses and back to households again. With a high employment rate, the deficit of Canadian government will also be greatly affected, positively. If the job supplies continues to grow in number or even expand to a greater quality, this would mean when I graduate from school, my expectation of my future job will hopefully be a lot better that of my parents.
The federal budget seams to have a lot of positive characteristics pertaining to many needs in canada. a few that stood out to me were the $5 million to go to the promotion of the calgary stampede, and the financial aid and encouragment being offered to new and small businesses.
ReplyDeleteThe $5million to go towards the promotion of the calgary stampede will create more awarness to the stampede and draw more people in to attending. growth of the stampede will also mean a growth in the amount of jobs needing to be filled to operate the stampede. this of course is great for students looking for a summer job because it will offer many young people a chance to work. and of course if the stampede continues to grow this will inturn cause economic growth as well.as far as encouraging small and new businesses through some financial aid, this will create more jobs in canada as well. more businesses means more jobs and a lower unemployment rate.This is a great opportunity for graduating students, as it allows them many future job opportunitys. helping out small businesses will increase economic growth as well.
most of the aspects of the federal budget seam beneficial to canadas economy.
Nicole Roy
The 2011 federal budget contains a lot of material inside in order to stimulate growth of the economy. one purpose in this budget is to create jobs for all, and stimulate growth to reach economic prosperity. Objectives from this budget are to reduce Canada’s deficit amount and reach a surplus in the near future.
ReplyDeleteAn example is the “Temporary hiring credit for small business”, which creates job opportunities for everyone to find a job. This be beneficial for students graduating this year in post secondary. Another one would be the construction of Inuvik to Tuktoyaktuk highway. Since the government had spend $150 million into this program for construction. There would be a need to hire many construction workers in order to build this highway. The government had increased spending to get the economy running in order to reach the end of the recession. Therefore it would reach the end of the deficit by 2015-16.
Overall, I believe that job creation is important in this society and this is one factor that leads to growth of the economy. This plays a role in reducing the deficit Canada is currently facing. If the budget goes as planned, they will reach the end of the deficit stage and into the surplus stage in the near future. I believe that as a student, there are many job opportunities for me as soon as I graduate. They may hire temporary employees in small business to gain experience in the field of your study.
As we see in the outline for 2011 federal budget, that investments are now helping smaller companies expand their horizons. “Low-tax plans” as well as capital cost allowances for machinery, can in most case help business that had to make cuts during the last 16 months. As a student who relies on personal assets rather then government loans to cover the cost of education, this is a nice tough for those looking for a job; as companies have more capital to invest into training, equipment, and other various fixed costs. Maybe now I can sleep a bit more sound knowing that I have a “better” potential entering my career down the line, instead of 16 months age when the economy wasn’t in the best shape. Apart of the “goodies” package was also 100 million dollar investment towards clean energy, which finally being noticed with the aspect of global warming. Down the line fossil fuels will eventually become obsolete creating a need for an alternate source of energy. By making investments now, we can hopefully find a better alternative now rather then later as global warming will continue to detriment.
ReplyDeleteTo me it seems like the federal government is really splitting up the funding and giving it to the people that really need it the most. Increasing funding sent to the elderly and eliminating student loans for nurses and doctors going to rural communities. My one concern is the funding being spread too thinly and is it really helping us “ordinary Canadians” that much. As a student I’ve seen tuition continuously go up and have had friends experience the same at different schools along with provincial and federal education cuts. The government doesn’t see the value of education, because if they are only offering small credits for parents with children in arts and culture programs, while they cut funding to art colleges and forcing them to cut budgets and education plans for those students in post secondary art programs. They need to offer more for students and from my experience, increasing tuition at an inflated rate doesn’t help the economy when we can’t afford the tab. Also, if they are predicting that unemployment rates will go down we will need to be able to full those jobs and they will need students with the right educations to do so.
ReplyDeleteOne thing that I can look forward to is the combined 500 million that will be put towards environmental research and to develop more efficient energy to consumers and giving homeowners who what chosen to run more energy efficient homes those tax benefits.
-Linda Lem
At first glance, I really didn’t think that most of the federal budget had much application in my life. After examining it further, there are definite impacts to me personally.
ReplyDeleteForemost the one that affects me and most Canadians is employment. Although the video stated that Canada was doing well in the area of job growth, it is still hard for many people my age to get well paying jobs in this economy. The government has focused their budget around job growth, and I am very happy to see this.
They have done seemingly small things, that nonetheless will definitely all add up. "The budget includes a one-time hiring credit for small businesses that is worth up to $1,000 against a firm's increase in employment insurance premiums due to new hires." This will encourage hiring and stimulate the economy, which is no doubt good news to students straight out of college. Programs that were brought into place during the recession such as work sharing will be extended as well.
Another thing about the budget as a whole that I found interesting is their planning for economic times in the future. "We want to be in good shape when the next crisis comes, just as we were in good shape when the last crisis came." I like that although we are on the up rise from unstable economic times, Canada wants to make sure they are putting themselves in a good place futuristically if bad times should come again. So hope we shall, that this budget does what it sets out to, which is transition Canadians into economic recovery.
Kim Samson (H)
After reviewing the budget passed down, the thing that caught my attention the most was the job increase and the surpus we are supposed to have in 2015, 2016. Being a business student myself, I was also pleased by the fact that the budget was focused on small businesses, health, clean energy research, seniors, ect. All these factos I believe touch each and everyone of us, it was planned out thoroughly.
ReplyDeleteCurrently when we had the reccession, it did hit us but we were better off than the USA. I was pleased that this time around they took better care in planning for our future.
Personally I would like to be an event planner and work for the Calgary Stampede so I was thrilled about the $5 million given to them.
Looking at this from an economic view, it makes sense to stimulate our economy by creating jobs for individuals and giving tax credits to small businesses because the next time we should find ourselves in an tough spot, we will have a better handle on things.
Looking for clean enegry and finding a sustainable alternative will also save us a lot of money that can be later used for other sectors such as education.
I think the money granted towards clean energy research will be a very good step for Canada. I just worked on a project that involved green sources of energy, and one of the main things that is holding people back from green sources is the extra costs associated with using more environmentally friendly sources of energy. With this grant, it should help people with the extra costs of going to clean sources of energy.
ReplyDeleteWith more people going to clean sources of energy in Canada, this is a major step in the right direction. This will also help Canada to reduce their pollution and smog, which is always good.
The main purpose for this new budget policy is to keep economic growth; offering more jobs. Of course it is great plan for us, if Government acti well. So far umemployeement rate of Canada is high, it impacts business section a lot, so if many people get a job, the business will be more activated and then it might be increased revenue and expense for sure
ReplyDeleteActually in article, students loan policy is most impressed to me. I am a young and poor student, so Loan is always hot issue to me, actually I did not try even to get a loan because I thought that I will be reused for sure. However, it is easier for students to get loans now, it means more student can go shcool and they will help the economy to grow
First of all, it is needed to mention the fantastic news about the Canadian deficit. In fact, Canadian deficit is dropping, and it will disappear by 2015. I find this topic very interested taking in consideration that disappearing deficit is a significant improves in the economy since not economy can be healthy while it has a deficit. I found many interested aspects in the Canadian Budget 2011. However, the one that most catch my attention was “Temporary hiring credit for small business”. To make economy grow up is essential to create new jobs. Small businesses play a main role in the creation of jobs in Canada; in fact, according to Statistics Canada's Survey of Employment, Payrolls and Hours (SEPH), on average in 2007, 48 percent of the total private sector labor force, worked for small enterprises. Understanding that small businesses are indispensable in their role as job creators all across Canada it is possible explain why Government proposes this measures. In fact, providing temporary hiring credit for small businesses it a way to to encourage additional hiring by this vital sector. Canadian Budget 2011 proposes a temporary Hiring Credit for Small Business of up to $1,000 against a small employer’s increase in its 2011 EI premiums over those paid in 2010. This measure will have a huge impact in the Canadian economy and also in the lives of many people (including students like me). This measure will have a positive impact in the unemployed rate, and it will help me to find a job faster than before. There will be more positions available because more small business will be hiring. Therefore, I consider that “Temporary hiring credit for small business” is an excellent proposes and it will definitely help me to find a job, which it hasn’t been easier lately.
ReplyDeleteCarolina Urribarri
The 2011 Federal Budget was released March 22, 2011 and with that came the proposition of creating more employment for people. Ever since the world went into the recession, many people have lost their jobs due to employers laying off people. This budget wants to make ensure that if employment is available, it’s used to its full extent to make sure that Canada (and the rest of the world) won’t fall back into having an economy that’s suffering. This is going to benefit the economy so much if more jobs are going to become available in Canada, not only will the economy benefit from getting more money but the people will benefit in general. With me being a student right now, it’s good to hear that more jobs are going to be available in the future, so my hopes for getting a good job seem high.
ReplyDeleteI believe that everything that helps the economy is good, if the federal budget can help secure Canada’s economic recovery that should definitely be a good start. Having new job opportunities, increase in employment which allows new generation has a new start, instead of having our economy in recession. This helps students and myself who are graduating getting a good start in life and great new opportunities out there. As seen in this article is seems like it is targeting towards people who are low-income, needs assistance, etc.
ReplyDeleteWhen Canada helps the poor, it makes us seem more of a community and let the world see that our economy is going rising. Instead of seeing the rich become richer, and the poor becomes poorer, which they cannot grow fast enough with the economy.
I believe it is a really good idea that the government wants to provide some of the budget to low-income seniors, doctors, and nurses to rural area. This helps the community a lot, and also let everyone see we are working together as one. This also allows more jobs for doctors and nurses, which we definitely need. We see that there is always long waiting lines to go see health care, and doctors and nurses are working long hours.
The federal budget of 2011 proposed that they want to push more jobs into this economy through small businesses higher in credit. This will be a good thing for me and many other students because there would be more jobs available. This will also impact students in the future because students will be graduated in the following years. With more jobs in our economy our unemployment rate would decrease dramatically. With lower unemployment in Canada it allows everyone to spend more money which would benefit us by getting us out of the recession.
ReplyDeleteFrom the economical perspective of view, we are all depending on the federal budget. That’s how the prices change on many, especially, big things such as housing, land, education, taxation, employment, and global market.
ReplyDeleteLet’s take a closer look at some those examples that I think is very important for every day basis.
First, I, personally, don’t want to get laid off from a job that I have been doing for, let’s say, 15 or 20 years. Businesses and workers, especially, need a good economical stand and stable or rising federal budget. They need to make sure that they earn “enough” profit to continue to produce, sell, or buy things, and that the consumer is able and willing to “help” them with it.
Secondly, the taxation, for businesses or residential, are playing a huge role! Federal budget doesn’t rise by itself. That’s us who are going to be affected in this situation. Money is going to come from our own pockets, taxes. As a student, who, for example, doesn’t have any outside support, I’m being charged more on things that I buy: books, education, living etc. And I do have to work more and more to keep my personal budget on track. But would I be able to get a good paying job with the bad economy? Don’t think so.
Third, the global market is going to be affected as well. The government wants to be on track too. With the budget rising, it’s going to get more opportunities to deal with other countries: they could buy, sell, and trade more, so we could have more choices in products.
In conclusion, there are two sides of the coin. Raising the budget will be definitely good for the economy in general, but as I mentioned we are going to be taxed more. As well as, the decrease in the budget would affect us even more by the lack of things that surround us every day. I think the stability is the best solution at this time. The more stable the government gets, the more opportunities it has.