Friday, 22 March 2019 13:29

Budget 2019 Invests in Middle Class but Offers Little to Address Economic Growth

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The 2019 Federal Budget was tabled earlier this week. With a focus on securing voters, it contains little in the way of substantial opportunity to address competitiveness, productivity, and investment certainty. It offers billions in targeted support for students, seniors, first-time homebuyers, workers and national pharmacare. Overall, it is projecting a $19.7 billion deficit for 2019-20.

On the marine front, topics that were addressed include:

  • Pilotage. The Government proposes to introduce amendments to the Pilotage Act that would support the Oceans Protection Plan by strengthening the governance of Canada’s pilotage authorities and enforcement provisions, streamlining fee-setting, and increasing transparency.
  • Innovation of Regulations. Budget 2019 makes a commitment to increase funding for regulatory review, modernization, and harmonization.  $219.1 million over five years is committed to move forward the regulatory roadmaps in transportation and infrastructure, agri-food and aquaculature, and health and bio-sciences
  • Skills & Immigration. Budget 2019 proposes to establish a new Canada Training Benefit to provide workers with access to a training allowance and leave provisions that will support those seeking additional training and/or skill upgrades. To deliver this new program, Budget 2019 proposes to invest more than $1.7 billion over five years, and $586.5 million per year ongoing. 

 

 

Read 410 times Last modified on Friday, 22 March 2019 14:22
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