For immediate release
April 4, 2013
Edmonton – The Honourable Tony Clement, President of the Treasury Board, highlighted new investments in skills training and infrastructure as part of Economic Action Plan 2013 in a speech yesterday to the Alberta Enterprise Group. Earlier in the day, Minister Clement hosted a roundtable with members of the South Asian community, accompanied by Laurie Hawn, Member of Parliament for Edmonton-Centre, to highlight the low tax, pro-business measures included in Economic Action Plan 2013.
Since 2006, the Government has lowered taxes, made Canada the first tariff-free zone for manufacturers in the Group of 20 (G-20), cut red tape, and improved conditions for new and growing businesses. Economic Action Plan 2013 builds on the Government's support for jobs and growth with such measures as:
- expanding and extending the temporary Hiring Credit for Small Business;
- increasing the Lifetime Capital Gains Exemption to $800,000 and indexing the new limit to inflation, representing an investment of $110 million; and
- continuing to reduce red tape and improve services for small businesses.
Canada's Economic Action Plan has also lowered taxes and tariffs, eased unnecessary regulatory burdens, and improved conditions for new and growing businesses. The Government is providing $1.4 billion of tax relief to Canada's manufacturing and processing sector through a two-year extension of the temporary accelerated capital cost allowance for new investment in machinery and equipment. This tax relief will encourage manufacturers and processors to accelerate and undertake additional investment in machinery and equipment, making their operations more productive and globally competitive.
More than 25,000 businesses in the manufacturing and processing sector have taken advantage of this initiative since it was first introduced in 2007.
To learn more about Canada's Economic Action Plan, visit Canada's Economic Action Plan.
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