Share

____________________
Federal Budget 2016

Cambridge Benefits from Budget 2016

MP Bryan May applauds government’s investment in infrastructure, youth, and families

Ottawa - The Government of Canada has made significant steps in bringing real change to Canada and to Cambridge with the introduction of Budget 2016, Growing the Middle Class. Released on March 22, Budget 2016 includes measures to improve the lives of people in the riding of Cambridge and right across the country.

The people of Cambridge, North Dumfries and North Brant will benefit from increased investment in infrastructure. Across the country $5 billion will be spent over five years for infrastructure and $3.4 billion over five years for social infrastructure, including affordable housing.

Changes to the Employment Insurance program will make it easier to access and also reenter the workforce. By reducing the wait period from two weeks to one week and improving response times from Service Canada, the Government is making Employment Insurance more accessible to the Canadians who need it. Expanding the Working While on Claim pilot project will encourage more Canadians to stay connected to the labour market by ensuring that claimants are able to work and also earn an income while receiving benefits.

Low-income seniors in Cambridge and across Canada will benefit from an increased Guaranteed Income Supplement. The Government is also strengthening retirement by returning the eligibility age for Old Age Security to 65 from 67.

There’s also help for students as the Canada Student Grant program is being increased by 50%, helping more students afford the rising cost of post-secondary education. The government will also make student debt more manageable by delaying repayment until students are earning at least $25,000 per year. The government is also working to ensure that students can find employment after school by investing in a renewed Youth Employment Strategy and helping students obtain on-the-job experience by increasing the number of co-op placements.

Businesses in the region will benefit from $800 million over four years to support innovation networks and clusters, and the Automotive Innovation Fund, currently scheduled to end in 2017-18, has been extended to 2020-21.

Parents in Cambridge and across Canada will now be able to take advantage of the new tax-free Canada Child Benefit. The average family will see an increase in child benefits of $2,300 in 2016-17. Nine out of 10 families will receive more benefits under the new system than under the current system. Families can find out how much they are eligible to receive using an interactive calculator at budget.gc.ca.

“This budget has significant benefits for the people in our riding. The need for investment in infrastructure is something that I heard about extensively from residents and leaders in Cambridge, North Dumfries, North Brant and at the Region” said Cambridge MP Bryan May. “As someone with a background in providing community services to youth in particular, I’m also excited about the steps we’ve taken to make college and university more affordable as well as the increase in co-op placements.”

Bryan May is the Member of Parliament for Cambridge, representing the people of Cambridge, North Dumfries, and North Brant. He serves as the Chair of the House of Commons Standing Committee on Human Resources, Social and Skills Development and Status of Persons with Disabilities. He serves on two House of Commons Standing Committees, and participates in five Parliamentary Groups and Associations. He was elected to the House of Commons on October 19, 2015.

The Exchange Morning Post is a free business news service. Consider making a voluntary payment, to help us make this business and market news service better. Thanks in advance, your contribution is appreciated.
Content published on this site represents the opinion of the individual/organization and/or source provider of the Content. ExchangeMagazine.com is non-partisan, online journal. Privacy Policy. Copyright of Exchange produced editorial is the copyright of Exchange Business Communications Inc. 2015. Additional editorials, comments and releases are copyright of respective source(s) and/or institutions or organizations.
Exchange Magazine for Business
Subscription options:

Exchange Magazine Paper Version
Exchange Magazine - Digital version

MARKET EXCHANGES


_____________________


_____________________


_____________________


_____________________

 

Subscription Options