Thursday, March 11th 2010

By Simon Granat

REMEK DEBSKI

SIL ANALYST

The focus of the Canadian Budget for 2010 is to lead the world in providing jobs and growing the economy. Certainly, this focus is not a surprise considering the state of jobs in Canada over the last few months. The Canadian unemployment rate currently sits at 8.3 per cent reported, Statistics Canada.

      This year the Federal Government has decided to speak directly to student jobs. “Budget 2010 invests in measures that will directly protect jobs. This includes extension to work-share and investments in training and skills development for youths,” says the March 4 report.

      “The Government is providing almost $1.0 billion in 2010-11 to enhance training opportunities for all Canadian workers. This includes additional support to the provinces and territories to expand training and skills development. It also includes helping youth to gain work experience and necessary skills and offering more opportunities to Aboriginal Canadians,” said the report.

      The section on Building Skills for Youth will focus on helping young people land jobs through support in education and better work programs. 

      First, “the Government is looking to for a $30 million increase in funding for the Career Focus component of the Youth Employment Strategy.” The hope is that this move will, “provide the additional support to Canadian employers and organizations willing to offer valuable career related work experience,” said the report. The government hopes that this will spur internships for college and university graduates in green sectors.

      Young entrepreneurs will be supported in the 2010 budget through a $10 million increase to the Canadian Youth business foundation. This organization is tasked to provide young entrepreneurs with mentors, learning’s resources and start-up financing. The report outlines the Skills Link program. This portion of the Government’s plan looks to address, “youth at risk.” $30 million is promised to help “persons with disabilities, single parents, Aboriginal Canadians, recent immigrants, those living in rural and remote areas, and those who have not completed high school,” said the report. The plan is designed to provide skills, knowledge and work experience to help young Canadians succeed and join the labour market.

      The report outlines the Government’s plan to integrate job development with post secondary education.  The key highlights of the report are, $342 million per year to support education and career building.

      $2.2 billion in grants, scholarships and loan programs will be offered to offset the cost of education; $100 million allocated for the Apprenticeship Incentive Grant and $40 million per year for the Apprenticeship Incentive Grant program.

      The Government is looking to build interest in apprenticeship programs further with $80 million in tax credits to be provided through the Apprenticeship Job Creation Tax Credit program. This program will credit $2,000 per apprentice, per year.

      Finally, $20 million of funding will be provided to the Economic Action Plan to enhance student employment under the Canada Summer Jobs Program and the Federal Student Work Experience Program.

Tags: budget, federal government, grants