Federal Budget 2007: Implications for Atlantic Canada
The new Conservative government's Federal Budget for 2007 places the focus firmly on new spending initiatives and increased transfers.
March 19, 2007
The largest spending areas in this budget are for fiscal transfers to the provinces, education and the labour market, infrastructure and the environment.
Budget measures that are particularly relevant in Atlantic Canada include the following:
Education
- An additional $800 million infusion for post-secondary education is slated for 2008-09, worth almost $60 million for the Atlantic provinces.
The labour market
- Beginning in 2008-09, $500 million per year is committed for labour market training, to encourage employer training and to improve access. The funding will be allocated on a per capita basis, worth about $35 million to the Atlantic provinces.
Infrastructure funding
- Each province will receive $25 million per year over the next seven years to support investments in national priorities such as trade-related infrastructure like roads and highways.
- A new $8.8 billion Building Canada Fund, distributed on an equal per capita basis, will support investments in the core national highway system, public transit, sewage treatment and small-scale municipal projects.
- A $2.1 billion national fund for gateways and border crossings will enhance infrastructure at key locations.
The environment
- About $4.5 billion has been set aside for environmental initiatives. This includes the recently announced $1.5 billion ecoTrust program for provincial energy and pollution-reducing projects and $2 billion in operating incentives for producers of renewable fuels and next-generation renewable fuels such as those produced from agricultural and wood waste.
Innovation
- There is additional funding for many national research programs plus an additional $350 million for Centres of Excellence in Commercialization and Research (including the Life Science Research Institute in Halifax).
Source:
Atlantic Provinces Economic Council
Halifax
www.apec-econ.ca
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