#BillMorneau, #CanadaFederalBudget, #SkillsDevelopment, #VentureCapital, #CanadaSavingsBonds
Federal Finance Minister Bill Morneau presented federal budget on Wednesday with the main aim of making Canadians ready to adapt themselves for a world of rapid technological advancement in the work places and providing skill training to the youth, media reports said.
Details of the 2017 federal budget are as follows:
Deficit: $28.5 billion spiked from $25.4 billion shown during the fall.
Housing care: $11.2 billion over 11 years would be directed towards a national housing strategy.
Child care: $7 billion over 10 years starting 2018-19 for new spaces, .
Indigenous: $3.4 billion in new money over five years for infrastructure, health and education.
Defence: $8.4 billion for equipment.
Care givers: New care-giving benefit extending up to 15 weeks, starting 2018.
Skills: New agency to be deployed for research and measure skills development, starting 2018-19.
Innovation: $950 million over next five years to support business innovation.
Startups: $400 million for a new venture capital catalyst initiative over three years.
Artificial Intelligence: $125 million for launching a pan-Canadian Artificial Intelligence Strategy.
Coding kids: $50 million over two years for initiatives to teach children to code.
Families: Option to extend parental leave up to 18 months.
Uber tax: GST to be collected on ride-sharing services.
Sin taxes: One cent more on a bottle of wine, five cents on 24 case of beer.
Canada Savings Bonds: would terminate
Transit tax: 15 percent non-refundable public transit tax credit removed this year.
(Reporting by Asha Bajaj)
Image of Bill Morneau: twitter