Archived - Investing for Tomorrow

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To succeed in the future, Canada must invest in its best and brightest people so they can excel, building a more competitive economy and a better home for their families, their communities and those who follow in their footsteps. Budget 2008 invests in all Canadians to make our country a world leader.

Investing in People With:

• $350 million for a new, consolidated Canada Student Grant Program reaching 245,000 college and undergraduate students in the fall of 2009, and rising to $430 million by 2012–13.
• $123 million over four years to streamline and modernize the Canada Student Loans Program.
• Enhanced flexibility for Registered Education Savings Plans, increasing the time limits they may remain open to 35 years from 25 years.
• $25 million over two years to establish a new scholarship award for top Canadian and international doctoral students, dedicated to the memory of former Governor General Georges Vanier.
• $3 million over two years for Canadian recipients of Canada Graduate Scholarships who wish to study abroad.
• $21 million over two years to establish up to 20 Canada Global Excellence Research Chairs to strengthen the ability of Canadian institutions to attract and retain top science leaders.
• $20 million to the Gairdner Foundation to enhance the Canada Gairdner International Awards for exceptional achievement in health research.
• $22 million over the next two years, growing to $37 million per year, towards a modern competitive immigration system with faster processing of permanent resident applications and shorter wait times.
• $60 million per year to fully exempt the first $3,500 of earned income from the Guaranteed Income Supplement calculation to support seniors.

Investing in Knowledge With:

• $80 million per year to Canada’s three university research granting councils in support of industrial innovation, health priorities, and social and economic development in the North.
• $140 million for Genome Canada to ensure Canada remains at the forefront of genomics research.
• $250 million over five years to support the Automotive Innovation Fund for strategic, large-scale research and development projects by the automotive sector in developing innovative, greener and more fuel-efficient vehicles.
• Enhanced Export Development Canada guarantee programs to support the automotive and manufacturing sectors.

Investing in Communities and Traditional Industries With:

• $90 million to extend the Targeted Initiative for Older Workers to 2012.
• A further $1 billion in support for Canada’s manufacturing sector with an additional three years of accelerated capital cost allowance treatment for new investment in machinery and equipment.
• $72 million over two years for farm programs and to improve access to $3.3 billion in cash advances.
• $22 million over two years to streamline and improve the environmental regulation of aquaculture.

Investing in Infrastructure by:

• Making the Gas Tax Fund, which will be $2 billion in 2009–10, a permanent measure, allowing municipalities to better plan and finance their long-term infrastructure needs.
• Setting aside up to $500 million to support capital investments in public transit.
• Announcing the establishment of PPP Canada Inc. to support public-private partnerships.

Supporting People in Need With:

• $110 million to the Mental Health Commission of Canada to support innovative demonstration projects to develop best practices to help Canadians facing mental-health and homelessness challenges.
• $282 million over this and the next two years to expand the Veterans Independence Program to support the survivors of veterans.

Investing in the Health and Safety of Canadians With:

• $113 million over two years to support Canada’s Food and Consumer Safety Action Plan.
• $33 million over two years to ensure greater safety of natural health products.
• $25 million over two years to provide Canadians with better information on the links between pollution and illness.
• New tax compliance and enforcement measures to reduce the availability of contraband tobacco products.
• The broadening of the Medical Expense Tax Credit.
• A Goods and Services Tax/Harmonized Sales Tax (GST/HST) exemption to help individuals cope with disabilities or disorders, such as autism, and an expanded list of GST/HST-free medical and assistive devices.

Investing in Aboriginal Communities With:

• $70 million over two years for measures to foster Aboriginal economic development.
• $70 million over two years to improve First Nations education outcomes.
• $147 million over two years to stabilize current First Nations and Inuit health programs and promote closer integration with provincial systems for better health outcomes.
• $43 million over two years for prevention-based models of child and family services on reserve.
• $330 million over two years to improve access to safe drinking water for First Nations.

Investing in a New North With:

• An increase in the Northern Residents Deduction to attract skilled workers to northern Canada.
• $34 million over two years for geo-mapping of natural resources.
• A one-year extension of the Mineral Exploration Tax Credit.

Investing in a Cleaner, Healthier Environment With:

• $66 million over two years to establish the regulatory framework for industrial air emissions.
• $250 million for research and demonstration of carbon capture and storage.
• Expanded tax incentives for clean energy generation.
• An increase to the capital cost allowance rate for carbon dioxide pipelines, a component of carbon capture and storage systems.
• $21 million over two years to make environmental law enforcement more effective..

• $24 million over two years to enhance the Government’s excellence programming for summer athletes..
• $9 million over two years to capital infrastructure projects to support Canada’s National Museums.

Investing in Security With:

• $400 million to encourage provinces and territories to recruit 2,500 new front-line police officers.
• $122 million over two years to ensure the federal correctional system achieves better public safety results.
• $32 million over two years to enhance the work of the Public Prosecution Service of Canada.
• $30 million per year to the National Crime Prevention Strategy.
• Stable, predictable new funding to support the Canada First Defence Strategy with annual increases in defence spending of 2 per cent starting in 2011–12, providing an additional $12 billion over 20 years.
• $43 million over two years to the Communications Security Establishment to keep pace with rapid advancements in information and communications technologies.
• $75 million over two years to ensure the Canada Border Services Agency has the resources it needs to effectively manage the border.
• $6 million over two years to help provinces and territories introduce enhanced driver’s licences in partnership with U.S. states..
• $26 million over two years to facilitate the processing of visa applications and enhance border security through the use of biometric data.
• New electronic passports for Canadians, to be introduced in 2011, which will be valid for 10 years.
• $29 million over the next two years to meet priorities under the Security and Prosperity Partnership of North America.
• $15 million over two years to establish a permanent facility to enhance the security of the Great Lakes/St. Lawrence Seaway region.

How Can I Get More Information on Budget 2008?

Information is available on the Internet at www.fin.gc.ca or by phoning:

You can also obtain copies of this brochure and other budget documents from the:

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