NICKEL BELT – GREATER SUDBURY - The Canadian government recently tabled the 2024 federal budget which aims to boost the economy and support communities nationwide. Among the strategic allocations, certain budget items are especially relevant to the Nickel Belt riding. Some of these include investments to enhance local infrastructure, to stimulate job creation, and to enhance social programs.

The budget provides a detailed plan to meet the needs and priorities expressed by individuals, businesses, municipal governments, and Indigenous communities nationwide, including those in the Nickel Belt region. Significant investments were announced for broadband expansion, sustainable energy initiatives, and $3.8 billion was earmarked for Canada’s Critical Minerals Strategy. This will help to secure Canada’s position as the world’s supplier of choice for critical minerals and the clean technologies they enable. As mining is a huge economic driver in the Nickel Belt region, MP Serré is optimistic this will have a positive impact on the area.

The budget also places a strong emphasis on fostering innovation and entrepreneurship by providing access to capital, training programs, and market opportunities to small and medium businesses. This is in addition to measures announced to tackle critical issues like affordability, housing and climate change. Some of these measures include:

• Adding $400 million to the $4 billion Housing Accelerator Fund to build more homes quicker
• $40 billion through the Apartment Construction Loan Program, which is providing low-cost financing to build more than 101,000 new rental homes
• $6 billion over 10 years, starting in 2024-25, to Infrastructure Canada to launch a new Canada Housing Infrastructure Fund
• Increased funding for healthcare, including mental health services
• Investments in affordable housing initiatives to address homelessness and housing availability
• Stabilizing the cost of groceries and strengthening local food security
• Cheaper internet, home phone, and cell phone plans
• Support for skills training and job creation, particularly in green energy and technology sectors
• Measures to address climate change, including incentives for green initiatives
• Support for Indigenous communities, including investments in healthcare, education, and infrastructure
• Adjustments to the tax system to promote fairness and enhancing free and affordable bank accounts
• Increased funding for seniors' programs and retirement security measures
• Initiatives to address gender equality and support women's economic participation, including funding for childcare and support for women entrepreneurs
• Doubling the Volunteer Firefighters Tax Credit and the Search and Rescue Volunteers Tax Credit from $3,000 to $6,000

Marc G. Serré, Member of Parliament for Nickel Belt and Parliamentary Secretary to the Minister of Energy and Natural Resources and of Official Languages, expressed enthusiasm for the transformative potential of these investments. "The federal budget represents a significant milestone in our ongoing efforts to build a prosperous and inclusive future for the residents of Nickel Belt and across the country," said Serré. "By prioritizing strategic investments in the things that matter to people we are laying the groundwork for sustained growth and prosperity for all. I encourage everyone to review the 2024 budget, as it presents numerous beneficial proposals. I look forward to continued work with residents and all levels of government to ensure their voices are heard and their needs are considered in Ottawa," he concluded.

Find the full 2024 Federal Budget here: https://budget.canada.ca/2024/home-accueil-en.html?utm_campaign=fin-fin-budget-24-25&utm_medium=webfeat&utm_source=canada-ca

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Contact

Kaylie Dudgeon, Special Assistant
Marc G. Serré, MP for Nickel Belt, Parliamentary Secretary to the Minister of Energy and Natural Resources and Parliamentary Secretary to the Minister of Official Languages
705-507-2416 / [email protected]