Applause for Federal Budget comes from Association of Canadian Engineering Companies
The Association of Canadian Engineering Companies (ACEC) has announced strong approval for the 2009 federal budget ...
The Association of Canadian Engineering Companies (ACEC) has announced strong approval for the 2009 federal budget delivered by Finance Minister’s 2009 on January 27. In a statement the next day, the Ottawa-based association said:
“ACEC was extremely pleased with the announcement of over $11.8 billion in new federal infrastructure funding over the next two years, which will compliment the existing budgetary allocation of approximately $8.8 billion over the next two years under existing federal programs, such as the Gas Tax funding and Building Canada Fund. What is perhaps more encouraging is that the $11.8 billion in new federal funding over two years is expected to leverage almost $8.9 billion in funding from other sources, primarily the provinces, for a total of over $20 billion in new infrastructure funding over two years. This amount does not include $2 billion in low cost loans that will be available to municipalities to invest in municipal housing-related infrastructure projects such as sewers and water lines.
“In addition, ACEC also welcomed the $2 billion over two years that was announced for direct investment in social housing and First Nations housing, the increase in the small business tax threshold from $400,000 to $500,000, and the temporary 100 percent capital cost allowance rate for computer hardware and systems software acquired before February 1, 2011. These measures will further assist to strengthen the competitive position of Canadian engineering firms.
“ACEC is pleased that the federal government heeded our message on the need to introduce massive new investment in our nation’s infrastructure, but to do so strategically, and to ensure that the stimulative effect is immediate,” stated Jeff Morrison, President of the Association of Canadian Engineering Companies. “Engineering firms are ready, willing, and able to work with the federal government, provinces, municipalities, First Nations, educational institutions, and others to ensure that projects are ready to roll out in a timely manner,” he added.
ACEC has 500 member companies, representing an industry that employs over 90,000 people and contributes over $15.4 billion to Canadian GDP.