OTTAWA—There was some good news for the print industry in last week’s Federal budget, said Canadian Printing Industries Association president Bob Eilliott.
“Generally I would say it has some positive aspects that will assist short and long term,” said Elliott in a press release. “The elimination of import tariffs on productivity-improving machinery and equipment and goods should provide some relief to equipment suppliers and ultimately to printers.” The government has suggested the elimination of such import tariffs will provide an annual savings of $300 million to Canadian manufacturers.

However, the CPIA noted there was no extension of the Accelerated Capital Cost Allowance past the current December 2011 end date, something they have been pushing for. Elliott said the CPIA will continue to fight for an extension.

Other CPIA items of note from the 2010 Federal Budget:

• Over $100 million to extend the maximum length for work sharing agreements
• $108 million for support of young workers through internships and skills development
• Over $600 million to help develop and attract talented young people
• Keeping $19 billion in federal stimulus money in place under Year 2 of Canada’s
Economic Action Plan announced in Budget 2009 (this is complemented by an additional $6 billion from the provinces and others). This includes $3.2 billion in personal income tax relief and $1 billion to enhance training opportunities for Canadian workers
• A commitment to improve Canada’s system of international taxation to facilitate investment and streamline the compliance process associated with cross-border activity
• There will be no increased taxes for Canadians
• A new Red Tape Reduction Commission will be formed
• Removal of the freeze on EI premiums in 2011
• The launch of a new small and medium-sized enterprise innovation commercialization program