Canada's Economic Action Plan

Canada's Economic Action Plan

April 17, 2012 18:30 ET

Minister Lisa Raitt: Local Small Businesses Get a Hiring Boost

KAMLOOPS, BRITISH COLUMBIA--(Marketwire - April 17, 2012) - During a visit to ROI Media Works Corporation, the Honourable Lisa Raitt, Canada's Labour Minister, and Cathy McLeod, Parliamentary Secretary to the Minister of National Revenue and Member of Parliament for Kamloops-Thompson-Cariboo, announced the extension of a popular federal tax break for local small businesses looking to hire more workers.

The Hiring Credit for Small Business, extended as part of Economic Action Plan 2012, credits up to $1,000 of small employers' possible increases in EI premiums from one year to the next. Since its introduction in 2011, the Government's Hiring Credit has been extremely popular among small businesses.

The Canadian Federation of Independent Business had been calling on Ottawa to extend what they have cheered as a "popular measure" with smaller businesses across Canada. The Government estimates 536,000 small businesses will benefit from the measure in 2012.

"We all know small businesses are the engines of our local economy and the Hiring Credit has been a great help in fuelling those engines here in Kamloops," said Minister Raitt. "Extending it will mean more jobs and a stronger economy."

Minister Raitt also noted that the Government has been a strong supporter of small businesses since 2006, including reducing the small business tax rate to 11 per cent, and dramatically reducing red tape.

"Canadians can count on the Government to stand up for small businesses and entrepreneurs by helping them create jobs and keeping taxes low," Minister Raitt concluded.

Those looking for more information on the Hiring Credit for Small Business or on other Economic Action Plan 2012 measures are encouraged to visit www.actionplan.gc.ca.

IF THERE IS A DISCREPANCY BETWEEN ANY PRINTED VERSION AND THE ELECTRONIC VERSION OF THIS NEWS RELEASE, THE ELECTRONIC VERSION WILL PREVAIL.

TTY (Telecommunications device for the hearing impaired)

This news release is available online at: www.actionplan.gc.ca.

Contact Information

  • Ashley Kelahear
    Press Secretary
    Office of Minister Raitt
    819-953-5646