Finance Minister Jim Flaherty (Whitby-Oshawa, ON) praised Canada’s volunteer firefighters and highlighted the federal government’s many initiatives to strengthen support for these vital first responders. Speaking to members of the Canadian Association of Fire Chiefs and volunteer firefighters at Stittsville Station 81, an all-volunteer fire station, Flaherty said that volunteer firefighters play a critical role … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) confirmed that the government has increased the maximum amounts that may be borrowed by the governments of the Northwest Territories, Yukon and Nunavut. Flaherty said the increases are sustainable and reflect the increased financial resources available to the territories to manage their obligations going forward. The full release is … Read more
Minister of State (Finance) Ted Menzies (Macleod, AB) and Parliamentary Secretary to the Minister of Finance Shelly Glover (Saint-Boniface, MB) announced the government is moving forward with several measures to protect Canadian consumers and help them achieve greater control over their own finances. These measures, part of Economic Action Plan 2011, include a ban on … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) will present the government's Economic Action Plan 2012 on March 29, 2012, in the House of Commons. Flaherty said that the Economic Action Plan 2012 will continue to focus on making Canada's economy stronger over the long-term, with prudent growth initiatives and responsible spending of taxpayers' dollars. Call 613-996-7861. … Read more
The Audit of the Federal Budget Process is now available on the Finance Canada website. The Audit of Integrated Human Resources Planning is now available on the Finance Canada website. The Follow-Up Audit of the Office of the Auditor General Income Tax Legislation Audit is now available on the Finance Canada website.
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) released the fiscal monitor for December 2011. There was a budgetary deficit of $0.4 billion in December 2011, compared to a deficit of $1.4 billion in December 2010. Revenues increased by $1.4 billion, or 6.8 per cent, reflecting increases in most revenue streams. Program expenses were up $0.5 billion, … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) issued a statement reminding Canadian families of a new federal tax credit that came into effect on Jan. 1, 2012. The Family Caregiver Tax Credit will provide new tax support for caregivers of infirm dependent family members. This 15-per cent non-refundable tax credit on an amount of $2,000 will … Read more
The Department of Finance proposed transitional rules for the provincial decision to eliminate the Harmonized Sales Tax (HST) in British Columbia, which combines a 5 per cent federal component with a 7 per cent provincial component. On Aug. 26, 2011, the BC government announced its intention to eliminate the HST by March 31, 2013. The proposed … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) sent a letter to U.S. Secretary of the Treasury Timothy Geithner expressing Canada’s concerns about the proposed Volcker Rule. Proposed on Oct. 11, 2011, the draft rule places restrictions on proprietary trading by all financial institutions that do business in the U.S., including Canadian firms. The letter notes that … Read more
The Department of Finance announced the successful issuance of a US-dollar global bond. The proceeds of the US $3 billion bond will supplement and diversify Canada's foreign exchange reserves. This was the government's third foreign currency bond issue in recent years, following a 10 year $2 billion euro global bond issuance in 2010 and a … Read more
