Ottawa, December 15, 2010
2010-122
The Honourable Jim Flaherty, Minister of Finance, today welcomed the support of the Senate and the House of Commons for the passage of Bill C-47, Sustaining Canada’s Economic Recovery Act, legislation that will help contribute to the recovery and sustain Canada’s economic advantage now and for the future.
The bill received Royal Assent today, allowing for the implementation of certain provisions of the budget tabled in Parliament on March 4, 2010.
“This legislation addresses the challenges posed by the current economic situation,” said Minister Flaherty. “It invests in targeted priority areas to support the ongoing economic recovery and lays the groundwork for Canada’s long-term prosperity.”
The Act will help secure Canada’s economic recovery, encourage growth and create jobs by implementing important elements of Budget 2010. Key elements of the legislation include measures to cut red tape, lower the tax burden on Canadians, close tax loopholes and better protect users of financial services.
More details about these and other measures from Budget 2010 are available at www.budget.gc.ca.
For further information, media may contact:
Annette Robertson
Press Secretary
Office of the Minister of Finance
613-996-7861
Jack Aubry
Media Relations
Department of Finance
613-996-8080
