Thank you Aime (Aime Dimatteo, FedNor Director General) for that kind introduction.
Welcome everyone and thank you for taking the time out of your busy schedules to join us today.
I am delighted to be back in Sudbury to deliver good news for smaller communities across Northern Ontario. I'll elaborate on that in just a few minutes.
Our Government is bringing to bear an unrelenting focus on our top priority: creating jobs, growth and long-term prosperity. At the core of our plan is a commitment to keep taxes low for Canadians.
Under the leadership of Prime Minister Stephen Harper, we are doing exactly that.
Our Government is fulfilling its promise to balance the federal budget. We are now in a position to fulfill our promise to help Canadian families balance theirs.
We know that for a more affordable life, Canadians need a more affordable tax burden.
That is why we have cut taxes of all kinds – personal taxes, business taxes, the GST.
Our Government believes in putting more money into the hands of those who care about children most — their parents.
Today, I am pleased to talk about the five latest measures that we are proposing to help Canadian families prosper:
First – we are increasing the Universal Child Care Benefit, or UCCB, for children under age 6. Parents will receive a benefit of $160 per month for each child under the age of 6—up from $100 per month— as of January 1, 2015. In a single year, a parent would receive up to $1,920 per child.
Second – we are expanding the UCCB to children aged 6 through 17. Under the expanded benefit, parents would receive $60 per month as of January 1, 2015, for children aged 6 through 17. In a single year, a parent would receive up to $720 per child.
Third – we are introducing the Family Tax Cut. This federal non-refundable tax credit will allow a spouse to, in effect, transfer up to $50,000 of taxable income to a spouse in a lower tax bracket. The credit would provide tax relief—capped at $2,000—for couples with minor children, effective for the 2014 taxation year. Income splitting has been helping seniors across the country, which is why the Government is now providing similar relief to families.
Fourth – increasing the Child Care Expense Deduction dollar limits by $1,000, effective for the 2015 taxation year.
Last but certainly not least, earlier this month, the Prime Minister announced our Government's intention to double the Children's Fitness Tax Credit and make it refundable. The maximum amount of expenses that may be claimed under the credit will be doubled from its current limit to $1,000 for the 2014 tax year and subsequent tax years, and the credit will be made refundable effective for the 2015 and subsequent tax years.
Every Canadian family with children will benefit from this tax relief and benefit package. In fact, these measures will put, on average, $1,140 back into the pockets of families with children.
Indeed, Canadians at all income levels are benefiting from federal tax relief measures introduced since 2006, with low- and middle-income Canadians receiving proportionately greater relief.
As you can see, I take great pride in highlighting what our Government is accomplishing for all Canadians. And this includes what we are doing for businesses and communities right here in Northern Ontario.
That is where FedNor comes in, delivering programs that support innovation, sustainable community economic development, as well as business growth and competitiveness.
Today, on behalf of the Harper Government, I am pleased to announce a new FedNor initiative designed to help Northern Ontario communities pursue economic development initiatives.
Historically, the economy of Northern Ontario communities has been closely tied to the mining and forestry sectors. This of course leaves communities vulnerable to the impact of market fluctuations and commodity pricing woes.
However, this reality is not likely to change. Our region is poised to continue to reap the benefits of a successful resource-based economy. It is rich in natural resources. It has a solid support infrastructure and a knowledgeable, innovative and determined workforce.
But communities need access to the right tools to ensure that they can respond to the needs and priorities of industry, and capitalize on emerging economic development opportunities.
Access to those tools can be a real challenge for many of our smaller communities and First Nations throughout Northern Ontario.
Economic and business development is a priority for rural and First Nation communities; however, many of them face challenges in funding economic development activities and do not have the dedicated human resources to make progress on this front.
I am proud to say that our Government is committed to ensuring that the right building blocks are in place to support our communities' economic development efforts.
One of those building blocks I am announcing today is FedNor's new Community Investment Initiative for Northern Ontario, or CIINO (See-no).
Northern Ontario communities seeking to increase business investment, job creation and regional collaboration may apply through FedNor's Community Investment Initiative for targeted support to take on a community economic development professional for a specific term to lead the implementation of an economic strategy or opportunity, provided the community has no existing full-time economic development position.
This initiative responds to the need identified to me by First Nations and small municipalities who require the extra talent to bring important economic development plans and projects to fruition.
In fact, early discussions with community leaders from a number of those smaller communities and First Nations have revealed an enthusiastic support for this initiative.
For example, the Mushkegowuk Council of Chiefs on behalf of the communities in the James Bay lowlands, the Town of Rainy River, the Town of Cobalt, the Township of Ryerson, and the Town of Smooth Rock Falls have all showed an interest in applying for support under this new initiative.
And make no mistake, the Community Investment Initiative for Northern Ontario will yield results. Not only will it enable recipient communities to increase the number of community and regional economic development initiatives, it will lead to increased private sector investment, job creation and increased regional collaboration and partnerships among communities.
With FedNor, we are always evaluating needs to ensure our investments have the greatest impact on the Northern Ontario economy. The growth of communities across the North is one of our top priorities.
This approach will help maximize the economic benefits of our investments and that is exactly the type of immediate and long-term returns we look for when making investment decisions.
To have a positive and lasting impact on Canada's economy, we must continue to support initiatives that encourage communities to grow and prosper, creating jobs for the residents across this great region.
Again, let me say how pleased I am to be with you today and to have made this important announcement in support of the continued growth and prosperity of communities across Northern Ontario.
Thank you / Merci.