Economic And Political Significance Of Budget

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Table of Contents 1. What is the economic and political significance of budget? 1 Economic Significance- 1 Political Significance- 2 2. What are the promises the Canadian could see in this budget? 2 3. How can its main features be described? 3 Connecting Canadians with available jobs. 3 Job Creation, Innovation and trade. 3 Responsible Resource Development 4 Investing in Infrastructure and Transportation 5 Supporting Families and Communities 5 4. Have you observed any difference in the budget 2013 and 2014? 7 5. If I was federal finance minister of Canada 7 1. What is the economic and political significance of budget? Economic Significance- A federal budget is an important document in shaping the economy of a country for the upcoming…show more content…
These tax breaks will lead to higher after tax income for Canadians. 2. What are the promises the Canadian could see in this budget? The major promises in the budget for Canadian are 1. Economic development of Canada and Canadians. 2. Connecting Canadians with available jobs. ($677 million in spending) 3. More trade, Innovation 4. Job creation (Automotive Innovation fund of $500million for long-term investment and R&D in Canadian automotive sector. Ontarians will benefit a lot from this fund.) 5. Responsible resource development, conserving Canada’s natural heritage. 6. Investing in infrastructure and transportation. (New Detroit-Windsor Crossing) 7. Support for families and communities. ($647 million in spending) 8. Legislation against unjustified cross border price discrimination. 9. Budget surplus of $6.4 billion in year 2015 – 2016. 3. How can its main features be described? Connecting Canadians with available jobs. • Canada job grant – Aligning training with labor market needs making it easier for the Canadians to find jobs or help get them better jobs. • Expanding Canada students loan program to help apprentices registered in red seal trades with cost of training. It will increase number of Canadians joining red seal trades leading to decrease shortages in some of these trades that are filled by foreign temporary workers. •
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