Budget a Modest One
By 250 News
Tuesday, March 22, 2011 01:17 PM
Prince George, B.C.- Federal Minister of Finance, Jim Flaherty has delivered his budget which seems to be very much a status quo spending plan.
The budget brings back the retro-fit plan, which will save Canadians about $1,000 for upgrading their heating systems.
The budget would also see some portion of student loans for Doctors and Nurses forgiven if they practice in rural areas. Doctors could see $40 thousand forgiven, while nurses could see $20 in loans forgiven.
Flaherty says this budget is aimed at securing Canada’s economic recovery.
Other highlights include:
- More support for research and education,
- Increase in the Guaranteed Income Supplement for seniors by up to $840 a year
- Caregiver tax credit for those looking after a family member
- Tax break for small business on EI premiums, if the employer hires new staff
- Tax break for corporations that buy new equipment
- Promise to eliminate deficit by 2015
Liberal Leader Micheal Ignatieff says the Government is spending 1000 times more on jets than what it is spending on students, saying the Government is not listening to what Canadian families want. Ignatieff won’t say if this budget will trigger a non confidence motion that might topple the Harper team, he says he has a caucus meeting tomorrow and a decision will be announced later tomorrow.
The New Democrats had been suggesting they won’t push for an election on this budget. Leader Jack Layton has yet to indicate if the budget meets the NDP’s wish list.
The Bloc Quebecois says it has not yet decided if it will support the budget.
Financial analysts say the budget is a modest one, and is not likely to have any real impact on the markets.
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