Yes, it's that time of the year again: budget day is upon us.Will the opposition bring down the Conservative government as it promised last week if the Cons stick to their feeble child care plan?
Which social programs will the Conservatives cut so they can pour more money into the military industrial complex?
Will the Conservatives scrap the Liberal tax cuts?
Will they give Canadians relief at the pumps by cutting gas taxes?
Will the GST be slashed?
Will the Cons go on a spending spree a la Bush?
Will they drive us back into massive debt - a fine Conservative government tradition?
Will Finance Minister Jim Flaherty's head explode? (that would be fun)
Advance budget details are available here and the Finance department decided to spend some of your hard-earned money on a flashy "multimedia presentation" to show how k3wl they really are.
You can visit the CBC's site (minus the flashy multimedia presentation) for up to the minute coverage online and CPAC will have a live, online feed of the proceedings in Parliament. Bring your own popcorn or bag lunch. Refreshments will not be provided. They're not in the budget.
Welcome to those who want to hang out and yap while the Conservatives tell you how they're going to spend your money.
Early highlights:
CBC's Keith Boag reports:
1% reduction in the GST as of July 1, 2006
$100 a month for every child up to 6 yrs old
$250 million to create 50,000 child care spaces over 2 years
family fitness credit - up to $500
transit pass credit starting July 1, 2006
tax increase: lowest tax rate goes from 15% to 15 1/2%
working tax credit: From July 1, 2006 on $500 of income
corporate taxes down: 21% to 19%
students: tax credit on text books and no tax on scholarships
Spending:
$5.5 billion infrastructure
$1.5 billion for farm support
$1.1 billion defence ($5.3 billion over 5 years)
$1.1 billion on housing
$161 million to recruit more RCMP officers
Update: CBC has more details here along with in depth analysis here.
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