Federal Finance Minister Jim Flaherty tabled the 2012 Federal Budget on March 29, 2012. Eliminating the deficit by 2015 is a key goal and the government plans to do this by cutting spending by $1.4 billion in 2012/13 and by $3.9 billion in 2013/14 for a total of $5.3 billion. With unemployment steady at 7.5% and record household debt, property buyers and owners were looking for any glimmer of good news. The government did offer some hope. 

Spending
 
• $205 million to extend the Hiring Credit for Small Business program to encourage hiring. A small-business employer can receive credit of up to $1,000 to help offset employment insurance premiums.
• $165 million over 2 years for responsible resource development which creates jobs and protects the  environment.
• $150 million over two years on the Community Infrastructure Improvement Fund for repairs and improvements to community facilities.$99.2 million over three years to help provinces develop permanent  flood mitigation measures.
• $67 million through the National Research Council on business-led, industry-relevant research.
• $60 million over two years to protect wildlife at risk.
• $35.7 million over two years for inspections and emergency preparedness to improve oil tanker safety.
 
Spending on innovation

• $500 million over five years, (to begin in 2014) to the Canada Foundation to support innovation in advanced research infrastructure.
• $105 million over two years to support forestry innovation and market development.
• $100 million to the Business Development Bank of Canada to support its venture capital activities.
• $37 million annually to granting councils to enhance support for industry-academic research partnerships.
 
Cutting red tape

• Streamline the multiple-step regulatory process to a single-step review known as “one project, one review.” This will include amending the Canadian Environmental Protection Act.
• Streamline the process for approving major economic projects.
• Introduce a legislative amendment clarifying the prohibition against banks selling life insurance.
 
There will be no new personal or corporate taxes or tax increases.
 
Excerpt from April 20, 2012 Realtor Link Article
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February 17, 2012

Dear Amalia,

Congratulations on achieving membership in the Platinum Club for 2011! You should be very proud of your accomplishment and we consider ourselves honoured to have you on the RE/MAX Team.

RE/MAX Associates are truly “Canada’s Most Productive Agents.” Your production and obvious customer-orientated service is a prime example of why RE/MAX is ‘Above the Crowd!®’.

As the real estate network with the most market share and greatest brand recognition, we have the most to offer home buyers and sellers. Due to professionalism exhibited by Sales Associates such as yourself, RE/MAX can lay claim to the phrase: “RE/MAX Outstanding Agents. Outstanding Results®”

We missed not being able to present this award to you personally at our recent 29th Annual RE/MAX of Western Canada Conference in Victoria, BC, however, it gives us great pleasure to present it to you now!

We are proud to have you on the RE/MAX Team and wish you continued success for 2012!

Yours truly,

RE/MAX of Western Canada (1998), LLC 

 

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The Real Estate industry is a key economic driver in British Columbia. In 2008, 24,626 homes changed hands in the Board's area generating $1.03 billion in spin-offs. The Real Estate Board of Greater Vancouver is an association representing more than 9,400 REALTORS®. The Real Estate Board provides a variety of membership services, including the Multiple Listing Service®.
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