Industry Minister James Moore Discusses Benefits of Economic Action Plan 2014 for British Columbia

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 14, 2014) - Office of the Minister of Industry

Industry Minister and Minister Responsible for British Columbia James Moore today addressed members of the Vancouver Board of Trade to underscore Economic Action Plan 2014 and what it means for jobs and growth in British Columbia. Minister Moore highlighted measures that will help Canadian families, empower consumers and support sectors of the economy to foster jobs, growth and innovation. Economic Action Plan 2014 contains no new taxes for families and businesses and continues to ensure that government spending is as efficient and effective as possible.

Minister Moore outlined new tax relief measures that build on the government's strong record of lowering taxes for Canadian businesses and families. These tax relief measures put money directly into the pockets of Canadians, so they can invest in the economy and have more choices in how they live their lives.

Minister Moore discussed specific measures from Economic Action Plan 2014 including:

• Introducing the Search and Rescue Volunteers Tax Credit, acknowledging the valuable contributions of search and rescue volunteers, such as the late Tim Jones of North Shore Search and Rescue

• Supporting World-Class Physics Research by investing $222 million to the TRIUMF physics laboratory at the University of British Columbia to support world-leading research and international partnerships

• Improving Broadband Internet in Rural and Northern Communities by investing $305 million to extend and enhance broadband service for up to an additional 280,000 Canadian households.

• Increasing Competition in the Telecommunications Market by amending the Telecommunications Act to cap wholesale domestic wireless roaming rates

• Supporting Families by enhancing tax relief for families adopting a child, removing the GST/HST on health care products and services, and expanding tax relief under the Medical Expense Tax Credit

• Making Landmark Investments in Research and Innovations by committing $1.5 billion over the next decade for research at universities through the Canada First Research Excellence Fund

• Standing Up for Victims of Crime by implementing the Victims' Bill of Rights and providing funding for a DNA-based missing persons index

• Supporting the Forestry Industry by investing over $90 million in the Forest Industry Transformation program to advance cutting-edge technologies to enhance the competitiveness of Canada's wood products and pulp and paper sectors

• Supporting Students and Interns by renewing the Computers for Schools program with a $36-million investment to continue to provide students and interns with computers, helping them get the skills they need to succeed in today's modern economy

• Sustaining Canada's National Parks by providing over $390 million to Parks Canada to make improvements to highways, bridges and dams located in our national parks and historic canals across Canada, including repairs to the Trans-Canada Highway passing through Glacier National Park in British Columbia

• Increasing Support for Health Care and Social Programs for British Columbia to record levels

Quick Facts

• Canada is the only G7 country to have more than fully recovered business investment lost during the recession.

• Over 1 million net new jobs have been created in Canada (of which over 85 percent are full-time and nearly 80 percent are in the private sector) since the end of the recession in July 2009. This is by far the strongest job growth in the entire G7 over this period. Canadians have also enjoyed the strongest income growth in the G7.

• Since 2006, our government has cut taxes nearly 160 times, reducing the overall tax burden to its lowest level in 55 years.

• Our government's strong record of tax relief means savings of nearly $3,400 for a typical family of four in 2014.

Quotes

"Our low-tax plan is supporting businesses and families across British Columbia. Since 2006, our government has cut taxes nearly 160 times, putting $3,400 back into the pockets of hard-working Canadian families and helping job-creating businesses. Economic Action Plan 2014 will help create jobs, keep the economy growing and return Canada to balanced budgets. Our government is focused on what matters most to Canadians and, with the help of Canada's Economic Action Plan, British Columbia is well positioned to grow for many years."

- James Moore, Industry Minister