Economic Action Plan 2014 is out and we wanted to share a few of the highlights with you. As we noted in our previous post, jobs, infrastructure and affordability are some of central themes in the document. Finance Minister Jim Flaherty also touched on the responsible development of natural resources, research & development funding, and the need for a more competitive manufacturing and export sector. It is also worth noting that, if not for the three billion dollar contingency fund, this year’s budget would be running a $100 million surplus.
Digital Economy Strategy
This year’s budget affirms the government’s commitment to encouraging wireless competition by capping wholesale domestic wireless roaming rates and giving more powers to the CRTC to enforce the Wireless Code. Over the next five years, the government will also be helping to expand networks and increase the speed of wireless broadband services for rural and remote Canadian households. The government will also be working with the Canadian Digital Media Network to establish an Open Data Institute at the University of Waterloo. Finally, the budget plan also stresses the need to bring Canada’s intellectual property regulation in line with international standards. All these initiatives will likely be built into the government’s proposed digital economy strategy.
Responsible Natural Resource Development
The government will be supporting the responsible development of pipeline projects and untapped mineral deposits as drivers of economic growth and job creation. The budget sets aside funds for the National Energy Board’s review of projects like the Keystone XL Pipeline and Energy East Pipeline proposals. They will also be extending the 15 per cent mining exploration tax credit for small companies looking to develop areas like the Ring of Fire in Northern Ontario and the LNG […]