MP Bobby Morrissey chats with members Larry Quaig from WSP and Nancy Quinn of the City of Summerside (Nancy MacPhee/Journal Pioneer.)
MP Bobby Morrissey lunched with more than 60 local business people March 30, as the Chamber hosted its annual post-federal budget event.
Bobby presented a number of examples of the budget’s focus on people and how the dollars allocated to seniors, veterans, students and EI will have a favourable impact on our local economy.
Following the lunch, the GSCC Policy committee met with Bobby to discuss economic priorities for the area.
Journal Pioneer (writer Nancy McPhee) coverage follows:
”Liberal MP says budget provides more disposal income for Egmont residents
It’s a fiscal plan that Liberal MP Bobby Morrissey says will put more money in the pockets of Egmont residents, who will spend that money at local businesses.
Morrissey detailed his government’s first budget over soup and sandwiches to 70 people at a luncheon hosted by the Greater Summerside Chamber of Commerce.
In his 25-minute presentation, the Egmont MP focused primarily on new and revamped programs, including the new Canada Child Benefit, that he says will provide more disposable income to those who need it.
“I firmly believe that government’s fundamental role is to address the needs of the most vulnerable in our society. For too many years that was an area that was neglected,” said Morrissey. “We, as a party, focused on a platform that was going to target our measures to the middle class and those who were wanting to get there.”
He focused on five specific areas of Finance Minister Bill Morneau’s first fiscal roadmap for the country, including an additional $1.53 billion over five years in grants for university students; double the investment in summer jobs for youth; and a change to the repayment schedule for students loans.
He noted with an estimated 14,040 people living in Egmont and, at $1,000 increase a year with the changes to the guaranteed income supplement, that means an additional $1.4 million in disposable income in the riding.
Morrissey also pointed to changes to employment insurance, particularly the reduction of waiting weeks for a claim from two to one week, as well as reduction of entrance requirements for first-time entrants.
“In January approximately 2,500 new entrants applied for employment insurance in Prince Edward Island. The average weekly benefit is approximately $400,” explained the MP. “This change, alone in January, would equate to a $1-million injection into the economy during a critical time of the year.”
The program Morrissey is most proud of is the Canada Child Benefit, one, he added, that will put more money in the pockets of the majority of Egmont residents.
“The benefit will be better targeted, and low and middle income families will receive more benefits,” he said. “The average family will benefit by $2,300 and there are 4,150 families in Egmont. This adds up to $9,545,000 or just over $1,300 per child.
He called the new benefit the most significant cash transfer from the federal government “in this history of this country.”
“You, as businesspeople, what I know is extremely important to you is to have customers and clients with money in their pockets, money to spend,” added Morrissey. “We, in this budget, focused on putting money in people’s pockets rather than tampering with the tax system that is in place now. This was significant for Prince Edward Island and for you, as small businesses.”