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Economic Action Plan 2014: Supporting Jobs and Growth


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In an uncertain world, Canada’s Economic Action Plan (EAP) is working—creating jobs, keeping the economy growing and returning to balanced budgets. Since the beginning of the recovery, Canada has achieved the best job creation record of any Group of Seven (G-7) country, and one of the best economic performances in the G-7.

Economic Action Plan 2014 continues to support jobs and growth by connecting Canadians with available jobs, strengthening Canada’s labour market and investing in the workforce of tomorrow.

Connecting Canadians With Available Jobs

Since 2006, the Government has taken action to create jobs and economic growth by keeping taxes low for Canadians and Canadian businesses, equipping Canadians with the skills and training they need to succeed, supporting advanced research and innovation, reducing red tape and creating a new Building Canada infrastructure plan.

EAP 2014 continues to create an environment for Canadians to succeed by strengthening policies that align skills training and development with labour market needs.

Ensuring Training Reflects Labour Market Needs

Canada has had a remarkable job creation record in recent years. However, challenges remain as too many Canadians are still out of work or underutilized at a time when skills and labour shortages are re-emerging in certain sectors and regions.

To better align training with labour market needs, the Canada Job Grant will be launched in 2014. The Government of Canada will continue to work closely with provinces and territories toward the implementation of the Canada Job Grant and the renewal of the Labour Market Agreements. The Government will also renegotiate the $1.95-billion-per-year Labour Market Development Agreements to reorient training toward labour market demand.

Labour Market Agreements for Persons With Disabilities

As announced in EAP 2013, the Government will provide $222 million annually, matched by the provinces and territories, over the next four years, through a new generation of Labour Market Agreements for Persons with Disabilities. The new agreements will engage employers and disability community organizations to better meet the needs of persons with disabilities and employers. Two complementary initiatives supported through EAP 2014 are an investment of $15 million over three years to connect persons with developmental disabilities with jobs through the Ready, Willing & Able initiative of the Canadian Association for Community Living, and an investment of $11.4 million over four years to support the expansion of vocational training programs for persons with Autism Spectrum Disorders.

Training the Workforce of Tomorrow

Providing students with the right skills is essential to further Canada’s economic prospects. EAP 2014 supports the training and employment of Canada’s next generation by helping them get the skills and experience they need to get quality jobs with:

  • New measures for apprentices that include the Canada Apprentice Loan, providing apprentices registered in Red Seal trades with access to over $100 million in interest-free loans each year, and the Flexibility and Innovation in Apprenticeship Technical Training pilot project, which will expand the use of innovative approaches for apprenticeship technical training.
  • The elimination of the value of student-owned vehicles from the Canada Student Loans Program assessment process, which will benefit more than 19,000 student loan borrowers and better reflect the needs of students who commute or work while studying.
  • Dedicating $40 million towards supporting up to 3,000 full-time internships for post-secondary graduates in high-demand fields.
  • $36 million over four years to renew the Computers for Schools Program, providing students and interns with better access to information and communications technology equipment and skills training.

Reforming First Nations K-12 Education

The Government will work with its partners so that young First Nations people will have access to education systems on reserves comparable to provincial and territorial school systems. EAP 2014 confirms core funding of $1.25 billion from 2016–17 to 2018–19 in support of the First Nations Control of First Nations Education Act, and creates a new Enhanced Education Fund that will provide funding of $160 million over four years starting in 2015–16.  New funding to build and renovate schools is also confirmed, with $500 million over seven years beginning in 2015–16 for a new Education Infrastructure Fund.

Supporting Entrepreneurs Through Intensive Mentoring

In the Fall of 2013, the Government launched the Canada Accelerator and Incubator Program (CAIP) as part of the Venture Capital Action Plan. To increase the impact of CAIP in helping entrepreneurs to create new companies and realize the potential of their ideas, EAP 2014 will provide the program with an additional $40 million over four years, starting in 2015–16, increasing its total funding to $100 million. The funding will be used by recipient organizations to provide entrepreneurs with intensive mentoring and other resources to develop their business.

Targeted Initiative for Older Workers

EAP 2014 will renew the Targeted Initiative for Older Workers program for a three-year period, representing a federal investment of $75 million. Eligibility for the Initiative will also be expanded to communities experiencing unfulfilled employer demand and/or skills mismatches, so that communities with tighter labour markets can participate in the Initiative if they have vacant jobs that unemployed older workers could fill.

Enhanced Job Matching Service and Modernized National Job Bank

EAP 2014 will invest $11.8 million over two years and $3.3 million per year on an ongoing basis to launch an enhanced Job Matching Service. It will ensure Canadians are given the first chance at available jobs that match their skills in their local area.

Fostering job creation, innovation and trade

Given the ongoing uncertain global economic environment, it is important for the Government to continue to pursue the objectives that have underpinned the EAP since its inception. To this end, the Government has announced and implemented a number of targeted, affordable measures that support advanced research and innovation, reduce red tape and help Canadian businesses become more competitive here and around the world.

EAP 2014 builds on this foundation by investing in initiatives that will:

  • Create the new Canada First Research Excellence Fund with $1.5 billion in new funding over the next decade to help Canadian post-secondary institutions excel globally in research areas that create long-term economic advantages for Canada.
  • Provide an additional $500 million over two years to the Automotive Innovation Fund, to support significant new strategic research and development projects and long-term investments in the Canadian automotive sector.  
  • Continue to reduce the tax compliance and regulatory burden for small and medium-sized businesses and other tax filers.

With these and other measures, Economic Action Plan 2014 continues to support jobs and growth.