Ottawa, June 27, 2011
The Honourable Jim Flaherty, Minister of Finance, today welcomed the passage of Bill C-3, which received Royal Assent in Parliament yesterday. The Supporting Vulnerable Seniors and Strengthening Canada’s Economy Act implements key measures from Budget 2011—the Next Phase of Canada’s Economic Action Plan: A Low-Tax Plan for Jobs and Growth.
“With a strong mandate from Canadians, the Government of Canada has acted decisively to ensure this important budget legislation is passed on a timely basis,” said Minister Flaherty. “As a result, Canada’s most vulnerable seniors can count on a top-up to their Guaranteed Income Supplement effective July 1, 2011, as promised.”
This measure will provide additional benefits, worth up to $600 per year for single seniors and $840 per year for couples, to more than 680,000 seniors across Canada who may be at risk of experiencing financial difficulties.
Among other important measures that come into effect with the passage of Bill C-3 are those that will:
Encourage young entrepreneurs
Enhance federal assistance for part-time students
Support Canadians with disabilities
Support Canada’s veterans
Maintain Canada’s leadership in genomics research
Reinforce the stability of Canada’s housing finance system
“While Canada has seen over 560,000 net new jobs created since July 2009 and seven straight quarters of economic growth, too many Canadians are still looking for work and the global economic recovery remains fragile. The swift passage of the Supporting Vulnerable Seniors and Strengthening Canada’s Economy Act and the next Phase of Canada’s Economic Action Plan will support a sustainable private-sector driven recovery and long-term economic growth,”added Minister Flaherty.
More details on these and other measures from Budget 2011 are available at www.actionplan.gc.ca.
For further information, media may contact:
Mary Ann Dewey-Plante
Office of the Minister of Finance
Department of Finance
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