2012 Canadian federal budget

none January 2023 Budget of the Canadian Federal Government 2012 Canada 2011 Canadian federal budget 2011 2013 Canadian federal budget 2013 29 March 2012 14 June 2012 41st Conservative Jim Flaherty C$255.0 billionDepartment of Finance‡ C$276.1 billion C$25.9 billionCanada's deficits and surpluses, 1963-2014 https://www.cbc.ca/news2/interactives/canada-deficit/ CBC News CBC/Radio-Canada 25 April 2015 Jobs, Growth, and Long-Term Prosperity ‡Numbers in italics are projections. The Canadian federal budget for fiscal year 2012–13 was presented to the House of Commons of Canada by Finance Minister Jim Flaherty on 29 March 2012. Among the most notable elements of the federal budget were changes to Old Age Security and a reduction of the budget for the Canadian Forces and the Canadian Broadcasting Corporation. The budget presentation was also used to announce that the penny would no longer be minted as of late 2012.CBC Key elements These initiatives were to be delivered in periods that varied from one to five years: The age of eligibility for Old Age Security would gradually rise from 65 to 67 between 2023 and 2029. Funding for the Canadian Broadcasting Corporation was reduced by 10% to approximately $1 billion per year. Funding for the National Film Board of Canada and Telefilm Canada was also reduced 10%.Kelly Brendan CBC, NFB and Telefilm to see 10% cut https://montrealgazette.com/entertainment/Telefilm/6382993/story.html#ixzz1qzGXr2EA 3 April 2012 Montreal Gazette 30 March 2012 18 July 2012 https://web.archive.org/web/20120718045217/http://www.montrealgazette.com/entertainment/Telefilm/6382993/story.html#ixzz1qzGXr2EA dead 19,200 federal public service jobs were eliminated, approximately 4.8% of all federal public service jobs. Of those, 7,200 would be via attrition, and 12,000 via layoffs.Smith About 4,800 of the affected employees work in Ottawa or Gatineau.National Post Extension of Mineral Exploration Tax Credit and Small Business Hiring Tax Credit for one year, elimination of the Overseas Employment Tax Credit (OETC) by 2016, elimination of Atlantic Investment Tax Credit and creation of efforts to crack down on tax avoidance and close loopholes. Programs and departments eliminated Programs and departments cut as part of the budget included: Assisted Human Reproduction Canada (effective 13 March 2013)Blackwell National Round Table on the Environment and the Economy KatimavikCBC News National Aboriginal Health Organization (effective 30 June 2012)CBC News Experimental Lakes Area (effective 31 March 2013) Canadian Immigration Interim Federal Health Program (effective 30 June 2012)Citizenship and Immigration Canada News Release – Reform of the Interim Federal Health Program ensures fairness, protects public health and safety http://www.cic.gc.ca/english/department/media/releases/2012/2012-04-25.asp 28 June 2012 https://web.archive.org/web/20140306095126/http://www.cic.gc.ca/english/department/media/releases/2012/2012-04-25.asp 6 March 2014 dead Arctic atmospheric research lab called PEARL – Polar Environment Atmospheric Research Laboratory (effective 30 April 2012)CBC: 2012 Effects As a result of the budget, in April 2012 the CBC announced it would cut its English Services budget by $86 million, of which $43 million was a reduction of programming and the remainder the elimination of 256 jobs.CBC It said it would also cut jobs in other departments, totalling 650 throughout the corporation.CBC The changes took effect in June 2012.Dixon It cancelled the TV series InSecurityRyan: 2012 and the television program Connect with Mark Kelley.CBC The changes included a reduction of the budget for CBC News by $10 million, the elimination of 88 jobs in that division, and the shuttering of its news bureaus in South America and Africa.DeMara CBC Radio had its budget reduced by $3 million, eliminated 18 jobs,CBC and stated it would no longer commission radio dramas. Other programming cuts included the radio program Dispatches and CBC Sports, which had a $4 million budget reduction and recast Sports Weekend as a seasonal program.CBC Compared to its budget in 2011–12, the CBC operating budget was cut by $27.8 million in 2012–13, $69.6 million in 2013–14, and $115 million in 2014–15.Press Agriculture and Agri-Food Canada announced in April 2012 that it would close the Cereal Research Centre operated at the University of Manitoba.CBC The Public Service Alliance of Canada (PSAC) stated that 5,561 of its members in 23 government departments had received notices from the federal government about the potential termination of their jobs.CBC This includes 308 jobs at the Canadian Food Inspection Agency, which will cut its operating budget by $56 million.Schmidt The Professional Institute of the Public Service of Canada announced that the employment of 1,500 of its members would be affected. Health Canada would eliminate up to 840 jobs, including 150 scientists. The Department of National Defence will cut at least 1,149 public service jobs,Pugliese about 585 of which are in the Canadian Forces and 234 at the Defence Research and Establishment Canada. On 1 May 2012, PSAC announced that Parks Canada would eliminate 638 jobs, and that 1,689 of its "scientists, engineers, technicians, mechanics, carpenters and program managers" would be affected by changes,Curry: 2012 and that 908 employees of Human Resources and Skills Development Canada, 490 employees of Aboriginal Affairs and Northern Development Canada, and 180 employees of Transport Canada would also be affected. Library and Archives Canada is expected to eliminate 105 jobs, and Statistics Canada is expected to cut 273. In November 2012, the Treasury Board president Tony Clement stated that the federal government had cut 10,980 public service jobs, of which 7,500 were by attrition or not replacing employees who had quit.Payton Accelerated Capital Cost Allowance and Mining Exploration Credit In 2011, Statistics Canada reported that the nonfinancial corporate sector (NFCS) was "sitting on more than $583 billion in Canadian currency and deposits, and more than $276 billion in foreign currency."Canadian firms sit on money as taxes drop again: Last of 5 corporate tax cuts goes into effect this week 1 January 2012 CBC News https://www.cbc.ca/news/canada/calgary/canadian-firms-sit-on-money-as-taxes-drop-again-1.1163244 2 July 2013 The Canadian government has introduced measures to encourage business to invest in the Canadian economy. There were five federal corporate tax cuts over a period of five years with the last 1.5 percent reduction taking effect on 30 December 2011, bringing the federal corporate tax to 15 per cent. Flaherty explained that the one-year extension on the Mineral Exploration Tax Credit and Small Business Hiring Tax Credit introduced in the 2012 budget are business incentives "to compel Canadian corporations to invest some $525 billion of dead cash back into the economy."http://www.macleans.ca/2012/08/27/private-sector-should-be-responsible-for-stimulating-economy-flaherty-says/ Private sector should be responsible for stimulating economy, Flaherty says Macleans 27 August 2012 2 July 2013 1 June 2013 https://web.archive.org/web/20130601135640/http://www2.macleans.ca/2012/08/27/private-sector-should-be-responsible-for-stimulating-economy-flaherty-says/ dead In their analysis of the 2012 budget the Canadian Labour Congress argued that "non-financial corporations" have used their federal incentives and tax cutsPrior to 2007, the federal corporate income tax rate was over 20%. Since 2007 the corporate tax rate was lowered. By 2012 it was 15%. to "buy up their own shares, to increase dividends, and to increase their cash holdings" which amounted to "close to $500 billion of surplus cash" that they were not investing in job creation.CLC Analysis of the 2012 Federal Budget 29 March 2012 http://www.canadianlabour.ca/news-room/publications/what-did-corporate-tax-cuts-deliver-2013 Canadian Labour Congress 2 July 2013 https://web.archive.org/web/20130603181253/http://www.canadianlabour.ca/news-room/publications/what-did-corporate-tax-cuts-deliver-2013 3 June 2013 dead Reception This budget was criticized because of cuts to health care, the old age security, environmental protection and because of the expansion of $6 billion in corporate tax cuts for corporations, banks, and oil companies.July 2020 Notes note References Footnotes Bibliography https://www.cbc.ca/news/business/the-penny-s-days-are-numbered-1.1174546 The penny's days are numbered CBC 2012-03-29 2012-03-29 penniless https://www.cbc.ca/news/canada/cbc-cancels-shows-slashes-88-news-jobs-1.1159573 CBC cancels shows, slashes jobs in cutbacks CBC News 10 April 2012 2012-04-10 CBCcuts https://www.cbc.ca/news/canada/manitoba/cereal-research-centre-to-close-amid-federal-cuts-1.1146550 Cereal Research Centre to close amid federal cuts CBC News 11 April 2012 2012-04-11 cereal https://nationalpost.com/news/canada/budget-2012-federal-canada Federal budget kills the penny, cuts CBC spending Carlson Kathryn Blaze National Post 2012-03-29 2012-03-29 budgetwrap https://nationalpost.com/news/government-shutters-agency-that-oversees-canadas-fertility-and-assisted-reproduction-industry Government shutters agency that oversees Canada's fertility and assisted reproduction industry Blackwell Tom National Post 30 March 2012 2012-04-11 Blackwell https://www.theglobeandmail.com/news/politics/ottawa-notebook/parks-canada-hit-hard-as-ottawa-doles-out-nearly-4000-job-notices/article2418073/ Parks Canada hit hard as Ottawa doles out nearly 4,000 job notices Curry Bill The Globe and Mail 1 May 2012 2012-05-01 PCCurry https://www.thestar.com/entertainment/article/1159268--cbc-cancels-connect-and-dispatches-in-response-to-federal-budget-cuts CBC cancels Connect and Dispatches in response to federal budget cuts DeMara Bruce Toronto Star 10 April 2012 2012-04-10 bureau https://www.theglobeandmail.com/news/arts/television/cbc-cuts-current-affairs-shows-88-news-jobs/article2397349/ CBC cuts current-affairs shows, 88 news jobs Dixon Guy The Globe and Mail 10 April 2012 2012-04-11 Dixon https://nationalpost.com/2012/04/04/defence-department-cuts-1000-plus-civilian-workers/ Defence Department cuts 1,000-plus civilian workers Pugliese David National Post 4 April 2012 2012-04-11 Pugliese https://nationalpost.com/news/canada/cbc-takes-a-10-federal-funding-cut-in-canada-budget-2012 CBC takes a 10% federal funding cut in Canada’s 2012 budget Press Jordan National Post 29 March 2012 2012-04-11 Press https://www.theglobeandmail.com/news/arts/television/cbc-cancels-battle-of-the-blades-as-part-of-budget-cuts/article2407570/?from=sec434 CBC puts Battle of the Blades on hold Ryan Andrew 19 April 2012 The Globe and Mail 2012-04-19 Ryan https://nationalpost.com/news/canada/cuts-to-food-safety-inspection-force-will-impact-food-quality-in-canada-union Cuts to food-safety inspection force will impact food quality in Canada: union Schmidt Sarah National Post 11 April 2012 2012-04-11 Schmidt https://www.thestar.com/news/canada/politics/article/1159565--federal-budget-2012-up-to-100-food-inspectors-on-chopping-block-says-union Federal budget 2012: Up to 100 food inspectors on chopping block, says union Smith Joanna Toronto Star 11 April 2012 2012-04-11 CFIA https://www.cbc.ca/news/politics/almost-11-000-federal-jobs-cut-so-far-tony-clement-says-1.1288838 Almost 11,000 federal jobs cut so far, Tony Clement says Payton Laura CBC News 16 November 2012 2012-11-16 Payton https://www.cbc.ca/news/science/high-arctic-research-station-forced-to-close-1.1171728 High Arctic research station forced to close CBC 28 February 2012 2012-07-09 cbcpearl https://budget.canada.ca/2012/plan/chap6-eng.html Budget 2012 – Jobs, Growth, and Long Term Prosperity Department of Finance, Government of Canada 2025-04-29 DOF2012 https://www.cbc.ca/news/politics/katimavik-killed-for-ideological-reasons-trudeau-says-1.1277023 Katimavik killed for 'ideological' reasons, Trudeau says CBC News 5 April 2012 6 April 2012 Katimavik https://www.cbc.ca/news/canada/north/national-aboriginal-health-organization-s-funding-cut-1.1194520 National Aboriginal Health Organization's funding cut CBC News 2012-04-09 2012-04-10 NAHO External links Budget Plan of the Government of Canada Harper Government Announces 10,980 Public Sector Positions Eliminated in Past Six Months at the Treasury Board 2012 Canada Category:2012 in Canadian politics Budget, 2012 Budget, 2012 Budget, 2012 Category:March 2012 in Canada Category:June 2012 in Canada