Budget 2006: Tax Cuts, Focused Spending, Debt Paydown

News Release

May 2, 2006
Ottawa, Ontario

Canada's New Government presented Canadians with a federal budget that emphasized tax relief, focused and effective spending and paying down Canada’s debt. The budget, which was introduced by Finance Minister Jim Flaherty, outlines the Government’s plans to implement its five priorities for Canadians in a fiscally responsible manner.
Among the highlights of today’s budget, the Government has committed to:
Implement a one-point reduction in the GST, effective July 1, 2006, as well as 28 additional tax reductions;
Help families by introducing the $1,200 Universal Child Care Benefit;
Maintain a balanced budget by limiting spending increases and eliminating programs that no longer serve the needs of Canadians; and
Reduce Canada’s long-term debt by $3 billion per year.
“I am extremely proud of this budget because it clearly lives up to the commitments we made to Canadians during the election campaign,” Prime Minister Stephen Harper said. “I would urge all Canadians to make their views known to their local Member of Parliament in the weeks and months ahead.”
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Budget 2006

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Budget 2006: Tax Cuts, Focused Spending, Debt Paydown

News Release

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