Saturday, December 6, 2014

Flaherty Starts Canada Budget Consultations Pledging No Tax Hikes

Canadian Finance Minister Jim Flaherty kicked off the federal government's consultations roadshow for the upcoming fiscal budget by announcing that he will not be raising taxes for businesses or Canadians. Also, the federal government will continue to look for inefficiencies in government programs and bureaucracies. While Flaherty didn't really provide much clarity in the form of how much further will the government cut--the federal government has already saved C$5.2 billion--it's clear the finance minister is willing to do more to balance the federal budget given that Canada's growth will markedly slow down in the next few years.