Federal Budget 2009

Stephen Harper's minority Conservative government delivered its 2009 budget on January 27. Unlike past budgets, this year's budget was primarily aimed at addressing Canada's slumping economy through a series of fiscal initiatives.

• The economy will be in deficit until 2013.
• At its worst, the federal debt is projected to be $542.4-billion in fiscal 2012-13.
• This budget will create or maintain 190,000 jobs.
• The federal government will spend $40-billion over the next two years to stimulate the economy.
• $200-billion to the financial markets to improve access to credit; $8.3-billion for the Canadian Skills and Transition Strategy for job retraining.
• Create a Home Renovation Tax Credit that will provide up to $1,350 in tax relief for home renovations between Jan. 27, 2009, and Feb. 1, 2010. Some 4.6-million families are expected to benefit.
• $12-billion for infrastructure projects over the next two years.
• $7.8-billion over two years for the housing, construction, renovations and energy retrofits.
• Extending employment insurance benefits by five weeks.
• $1-billion for social housing in the next two years, including more housing for seniors, the disabled and on reserves.