Tories present budget, includes cash for Quebec
Posted Jun 6, 2011 06:29:58 PM.
This article is more than 5 years old.
OTTAWA, Ont. – Federal finance minister Jim Flaherty and the Harper Government have unveiled what they call the next phase of Canada’s Economic Action Plan, in a new budget that includes cash for Quebec.
However, one could say the budget delivered in March has been re-introduced and recycled, as the first budget of the Tory majority era largely mirrors the one Flaherty delivered barely two months ago.
The new-old fiscal plan holds many of the same promises introduced in March, keeping measures like tax credits for caregivers and small business hiring.
The only add-ons are getting rid of the per-vote party subsidies starting in April 2012 and setting aside $2.2-billion to bring the HST to Quebec.
It also promises to get rid of the deficit early, but Flaherty said that will mean program cuts.
“They’ll be some programs that will not continue. There’s no question about that. In strategic review, already we’ve seen some instances of programs that have outlived their usefulness, quite frankly,” he said.
“Governments are very good at creating programs. They’re not so good at ending them,” he added. “That’s why we are launching the strategic and operating review. Once complete, it will realize $4-billion in annual savings and allow the government to return to a balanced budget by 2014-15, one year earlier than previously planned.”
He did not give any details on where he believes he can find the $4 billion in savings, but confirmed the cuts will begin next year.
Some of the key measures from the March budget that will be implemented this time around include increasing the guaranteed income supplement for seniors, ending subsidies for the oil sands sector, a new hire tax credit for small businesses and the childrens’ arts credit.
The Harper Government also plans a $400 million extension to the home retrofit program and loan forgiveness for doctors and nurses in rural areas.
