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Created with Fabric.js 1.4.5 Economic Growth• Equipping Canadians with the skills and training they need to succeed in the labour market, while also connecting them to available jobs.• Helping to develop natural resources in a responsible and secure way.• Helping businesses succeed in the global economy by encouraging trade and foreign investment to support our manufacturing sector and diversify our exports. Full Employment•An unemployed labour force also represents a waste of human potential and can cause serious hardship for unemployed workers and their families•As more and more technology is developed it becomes more and more difficult for Canada to maintain full employment•Better aligns training with labour market needs through the Canada Job Grant.•Introduces a new generation of Labour Market Agreementsfor Persons with Disabilities. Environmental Stewardship•Economic activity must be carried out without significantly harming the natural environment•If we wish to be more responsible stewards of our planet and protect it for future generations, we have to adjust the way we carry out our economic activities•This could mean potentially higher prices for consumers and lower profits for producers, but the negative effects on the environment must be reduced•Committing to respond to the recommendations made by the Tanker Safety Expert Panel and the Special Representative on West Coast Energy Infrastructure.•Providing $28 million over two years to the National Energy Board for comprehensive and timely reviews of project applications and to support the Participant Funding Program.•Continuing to support the forestry, mineral exploration and agriculture sectors. •Investing new resources to protect Canada’s rich natural heritage. Equitable Distribution of Income•dividing up the total national income many interpretations about what is a fair •redistribution of income•regional differences also come into playOver the next four years the Government will provide $222 million annually through these transfers, to be matched by provinces and territories, to better meet the needs of persons with disabilities and employers.•Creates the Canada Apprentice Loan by expanding the Canada Student Loans Program to help registered apprentices in Red Seal trades with the costs of training and introduces the Flexibility and Innovation in Apprenticeship Technical Training pilot project to expand the use of innovative approaches for apprentice technical training. Canada's Economic Action Plan Government Debt: Reduced Public DebtIs it fair to spend today and leave the debt in the hands of future generations? Government Debts include: all future government liabilities, such as pension payments, that the government has contractually agreed to, but not yet paid. While these are certainly a form of debt, we choose to classify them separately as unfunded liabilities. In multiple ways, these unfunded liabilities present a greater burden to future generations than all government debt combined. The Interest Rate TrapAs a government’s national debt increases over time, so does the interest payments needed to “service” the debt. The increased money needed to pay interest on the debt makes it even harder for a government to raise enough revenues to meet their expenditures. This problem leads to more borrowing, greater amounts of debt and even higher interest payments. This compounding cycle continues until a government manages to balance its budget or defaults on its financial obligations. To comprehend the size of the problem here in Canada, consider the fact that our federal government alone spends over $30 billion a year on interest payments. $30 Billion. The Canadian government spends more to simply maintain our current levels of debt each year. Previous generations have expanded entitlements without paying for them, and are now leaving future generations with the bill. Sustainable Development Is the development that meets the needs of the present without compromising the ability of future generations to meet their own needs.All resources must be managed carefully if our world and human race is to continue to thrive Externalities: The side effect or consequence of an industrial or commercial activity that affects other parties without this being reflected in the cost of the goods or services involved Subsidies: Encourage businesses to take external cost into consideration Taxes: Pigovian Tax -> Tax polluters A special tax that is often levied on companies that pollute the environment or create excess social costs, called negative externalities, through business practices. Regulation: The government regulates allowable levels of pollution 3 Main Initiatives: Nature Conservancy of CanadaParks and ConservationRouge National Urban Park Supports Canadians by advancing the Government’s Consumers First Agenda and better protecting financial consumers. Keeps taxes low Helps make adoption more affordable for Canadian families and provides further tax recognition of health-related expenses. Focuses federal investments in youth employment to provide real-life work experience in high-demand fields. Supporting advanced research and innovation to foster a vibrant entrepreneurial culture where new ideas are translated into products and services in the marketplace. Reducing red tape and the regulatory burden faced by businesses. Fostering job creation, innovation and trade by keeping taxes low; reducing the tax compliance burden; and continuing to provide Canadian businesses and investors with the market access they need to succeed in the global economy; By: Stephanie Ramcharran
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