First Conservative Budget Is ‘A
Win’ For Everyone
May 3, 2006
A massive $20-billion tax cut for you, the taxpayer.
Plus, government spending with responsible and focussed
investment in forestry, agriculture, child care, healthcare,
affordable housing, seniors programs, aboriginal programs,
infrastructure, education and training, the arts, crime
prevention and border security. And that’s just
in the very first Conservative budget.
The biggest surprise of all in this budget is that Finance
Minister Jim Flaherty delivered a budget that mirrors
the election platform promises we were elected on. Imagine.
A government that actually says what it will do, and then
does what it has said!
There isn’t enough room to list all the good news
in this limited space. So I’ll settle for the highlights
for Prince George-Peace River.
There’s $400-million over two years to support
our Mountain Pine Beetle-ravaged forest industry and an
additional $1.5-billion for farm support. That’s
$1-billion more in agriculture funding than we promised
during the election campaign. Infrastructure investment
through federal gas tax revenues and the Pacific Gateway
initiative means nearly $5-billion more in the coming
years for bridges, roads, railways and clean water.
On the healthcare front, the Conservative Government
is increasing healthcare transfers to the provinces by
six percent. We’ve already sent $5.5-billion to
the provinces to reduce wait times, along with a commitment
to work with them to ensure you receive necessary medical
treatment when you need it.
As for tax cuts, I would like to immediately address
a point of misunderstanding among some Canadians. After
more than 12 years in power, the Liberals decided just
days before the election campaign to drop the rate of
taxation on the lowest tax bracket from 16 percent to
15 percent. The Conservative budget sets that rate at
15.5 percent. So does that mean your income taxes will
go up? NO.
The Conservative formula is a far better deal for taxpayers.
The dozens of other new tax credits, including our new
$1,000 Employment Tax Credit for which every Canadian
with a job is eligible, will more than make up for the
0.5 percent difference in the tax rate.
In all, thanks to this Conservative budget, an additional
655,000 Canadians won’t pay any federal income tax
at all. Oh, and that doesn’t even take into account
the GST cut to six percent effective this July 1st. More
cash in your pocket.
Plus tax breaks for pensioners, students and families
with children. There is the $100-per-month Universal Child
Care Benefit for children under six and a sports registration
fees tax credit. (Also, $250-million is being invested
to create 125,000 new daycare spaces.)
Tradespeople will be able to claim a tools tax deduction.
An Apprenticeship Job Creation Tax Credit and an Apprenticeship
Incentive Grant will encourage businesses to hire apprentices.
And yes, we reduced taxes for small businesses and corporations
too because it is these businesses that create jobs for
Canadians.
Is there anything missing from this budget? Absolutely.
But this is just the beginning. If this is what a Conservative
government can accomplish in just 100 days, imagine what
we can get done in the coming months!
Learn more about how this budget benefits you at www.jayhillmp.com
or http://www.fin.gc.ca/fin-eng.html.
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