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Chapter 3: Supporting Jobs and Growth

Introduction

Our economy has shown strength and resiliency during the recent global economic turbulence. However, Canada cannot rest on its laurels. Our current advantage has provided an opportunity to position Canada for sustainable, long-term economic prosperity, ensure good jobs and provide a higher quality of life for generations to come.

Building on actions taken since 2006, Economic Action Plan 2012 announces major and necessary steps to address structural challenges and take advantage of new opportunities:

  • Supporting Entrepreneurs, Innovators and World-Class Research by adopting a new strategic approach to enhancing support for business innovation and providing additional funding to help Canada reinforce its leadership in fundamental research.
  • Improving Conditions for Business Investment by streamlining the Canadian regulatory system, particularly for major economic projects; continuing to invest in our natural resources; expanding trade to open new markets for Canadian businesses; keeping taxes low for job-creating businesses; and further developing our financial sector advantage.
  • Investing in Training, Infrastructure and Opportunity by strengthening incentives for employment and skills training; improving the Employment Insurance program; expanding opportunities for Aboriginal peoples to fully participate in the economy; building a fast and flexible economic immigration system; and continuing to invest in public infrastructure.
  • Supporting Families and Communities by protecting the health and safety of all Canadians and their communities; keeping taxes low for families and individuals; and protecting Canada’s natural environment and wildlife for future generations.
Table 3.0
Supporting Jobs and Growth
millions of dollars
  2011–12 2012–13 2013–14 Total
Supporting Entrepreneurs, Innovators and World-Class Research        
Creating Value-Added Jobs Through Innovation   255 171 426
Support for Research, Education and Training   200 141 341
 
Subtotal—Supporting Entrepreneurs, Innovators
and World-Class Research		   454 312 767
Improving Conditions for Business Investment        
Responsible Resource Development   78 87 165
Investing in Our Natural Resources   136 -24 112
Expanding Trade and Opening New Markets
for Canadian Businesses 		43 47 90
Enhancing the Neutrality of the Tax System     -10 -10
Improving Economic Conditions for Farmers and Fishermen   38 17 55
Further Developing Canada’s Financial Sector Advantage   3 3 6
 
Subtotal—Improving Conditions for Business Investment   298 120 418
Investing in Training, Infrastructure and Opportunity        
Supporting Job Creation, Small Business and Skills Training 51 186 40 277
Improving the Employment Insurance Program   177 305 482
Expanding Opportunities for Aboriginal Peoples
to Fully Participate in the Economy 		  92 129 221
Building a Fast and Flexible Economic Immigration System   5 4 9
Strengthening Canada’s Public Infrastructure   150 124 274
 
Subtotal—Investing in Training, Infrastructure and Opportunity 51 609 601 1,262
Supporting Families and Communities        
Protecting the Health and Safety of Canadians   37 37 73
Investing in Communities   228 204 431
Supporting Families   4 7 12
Protecting Canada’s Natural Environment and Wildlife   29 32 60
 
Subtotal—Supporting Families and Communities   297 279 577
Total—Supporting Jobs and Growth 51 1,659 1,313 3,023
Less funds existing in the fiscal framework   522 436 958
Net fiscal cost 51 1,137 877 2,065
Note: Totals may not add due to rounding.