MP Larry Maguire

Larry Maguire, Member of Parliament for Brandon-Souris applauds Budget 2015 as it will implement new measures that will create high-paying jobs for the people of Westman.



He says it will also support economic growth across our region that will help our families and communities prosper.

“We have kept our promise to Canadians by balancing the budget in 2015, the first balanced budget since the Great Recession,” said Maguire. “Federal taxes are the lowest they’ve been in 50 years and we’ve launched the largest infrastructure plan in Canadian history. I am proud of our plan that is providing benefits directly to families, seniors, students, and every taxpayer.”

Through Budget 2015, the Province of Manitoba will receive record high transfer payments to support health care, education, and social programs. Federal support to Manitoba is at an all-time high. Since the Conservatives formed government in 2006, Manitoba receives over $1.2 billion through the Canada Health Transfer, which is an increase of $445M (or 57%) from under the previous Liberal Government.

Budget 2015 is also protecting transfers to provinces such as the health and social transfers that will continue to grow.

Maguire said, “Under our leadership, Canada has created over 1.2 million new jobs since the recession, but we live in uncertain times and the global economy remains fragile. That’s why we will continue to focus on creating more jobs and growing Westman’s economy.”

Budget Plan 2015 includes key measures to support Westman families and to support the Manitoba economy, including:

Supporting Seniors: Budget 2015 proposes to provide more flexibility for seniors by reducing the minimum withdrawal factors for Registered Retirement Income Funds to permit seniors to preserve more of their retirement savings. Budget  2015 also proposes to introduce a new, permanent, non-refundable Home Accessibility Tax Credit for seniors and persons with disabilities.

 

Cutting Tax for Small Business: Budget 2015 proposes to further reduce the small business tax rate down to 9% by 2019. Due to measures the government has implemented since 2006, taxes for small businesses have been reduced by almost 50%.

 

Supporting Families: Budget 2015 benefits 100% of families with children by lowering taxes and increasing benefits. An average family will receive approximately $4,000 to $6,600 in support per year due to measures the government has introduced.

 

Tax Free Savings Account: Budget 2015 proposes to increase the Tax-Free Savings Account annual contribution limit to $10,000, effective for the 2015 taxation year. There are now 11 million Canadians who have opened accounts to save money for their priorities.