February 10, 2014
By the Numbers: Canada's 2014 federal budget
Canadian Finance Minister Jim Flaherty says the 2014 federal budget sets the course for a surplus in the 2015-16 fiscal year. Central to this budget are measures to invest in Canada's labour force. Some of the notable measures in the 2014 budget are:
-$14 million over two years and $4.7 million per year ongoing towards the implementation of an Expression of Interest economic immigration system.
-Annually, 26,000 apprentices in Red Seal trades are expected to apply for over $100 million in interest-free loans from the Canada Apprentice Loan.
- $1.3 billion over two years on a cash basis to support additional strategic investments in public infrastructure and transportation services.
-$11 million over two years and $3.5 million per year ongoing to strengthen the Labour Market Opinion process.
-$28 million over two years to the National Energy Board for comprehensive and timely reviews of project applications and to support the Participant Funding Program.
-Renewal of Targeted Initiative for Older Workers, representing $75 million over three years.
-The deficit is projected to decline to $2.9 billion by 2014-15. A surplus of $6.4 billion is expected in 2015-16.
-$40 million over two years to renew the Strategic Investments in Northern Economic Development program
-$11 million over two years and $3.5 million per year ongoing to reform the Temporary Foreign Worker Program.
-$11.8 million over two years and $3.3 million per year ongoing to launch enhanced Job Matching Service.
-$1.5 billion to create new Canada First Research Excellence Fund
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