Canadian Parliament Backs Stimulus Bill

by Mike Godfrey, Tax-News.com, Washington

13 March 2009

Bill C-10, legislation which contains key budget measures and other proposals designed to stimulate the Canadian economy, has been approved by both houses of the Canadian parliament.

The bill, which received Royal Assent on March 12 following votes in the Senate and the House of Commons, contains tax relief announced by Finance Minister Jim Flaherty in the 2009 budget, in addition to improved access to financing for Canadian households and businesses, strengthened benefits for Canadian workers, enhanced availability of training, and increased Employment Insurance benefits.

"Through Canada’s Economic Action Plan our government is providing the responsible leadership required during these challenging economic times by giving Canadians the necessary tools do deal with the global economic crisis," said Flaherty. "Bill C-10 enables the government to provide the potent economic stimulus needed to encourage growth and restore confidence in our economy."

"Our responsibility as a government is to protect Canadians during the global recession, to create new, good jobs for the future, and to equip our country for success in the years ahead," added Flaherty. "With the passage of Bill C-10, our government is providing the economic leadership Canadians deserve."

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