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Sep 18, 2015

The Boring Budget 2014


On Tuesday the federal budget was announced.

Essentially a balanced budget this year, with a projected surplus of $6.4B next year. A surplus will bode well for the conservative government in 2015 in time for the next election.

Here are a few points you should know:

Spending & Programs:

-       $1.6B to research and innovation – will benefit universities.

-       $500m to auto sector – mainly Ontario.

-       $305m to rural broadband.

-       Money to infrastructure (Eastern Canada).

-       $100-million a year for interest free loans for trades.

-       $391.5m to Parks (not much in the next 2 years, lots more after 3 years).

-       More funding for food safety.

-       $200m to national disaster programs – driven by Alberta floods

-       Beer regulations relaxed to stimulated craft beer industry

 

How was this paid for?

-       Tobacco tax increase (Approx. $700m)

-       Billions (Approx. $4B) was reallocated from Defense spending

-       Closing offshore tax loopholes (Approx. $1.6B)

 

Not included: (but should have been)

-       No stimulus for low-growth economy

-       No measures for reducing household debt

-       No significant measures for young people

-       Income splitting was delayed until nearer to the next election

Check us out on:  TrustedRegina.com Eureka Investor Guidance Kathy Waite

On Tuesday the federal budget was announced.

Essentially a balanced budget this year, with a projected surplus of $6.4B next year. A surplus will bode well for the conservative government in 2015 in time for the next election.

Here are a few points you should know:

Spending & Programs:

-       $1.6B to research and innovation – will benefit universities.

-       $500m to auto sector – mainly Ontario.

-       $305m to rural broadband.

-       Money to infrastructure (Eastern Canada).

-       $100-million a year for interest free loans for trades.

-       $391.5m to Parks (not much in the next 2 years, lots more after 3 years).

-       More funding for food safety.

-       $200m to national disaster programs – driven by Alberta floods

-       Beer regulations relaxed to stimulated craft beer industry

 

How was this paid for?

-       Tobacco tax increase (Approx. $700m)

-       Billions (Approx. $4B) was reallocated from Defense spending

-       Closing offshore tax loopholes (Approx. $1.6B)

 

Not included: (but should have been)

-       No stimulus for low-growth economy

-       No measures for reducing household debt

-       No significant measures for young people

-       Income splitting was delayed until nearer to the next election

Check us out on:  TrustedRegina.com Eureka Investor Guidance Kathy Waite