I figured I would post the budget highlights here, sorry if I missed this earlier in the thread:
-$85-billion deficit over five years, including $34 billion in 2009-2010 and $30 billion the next year.
-Cut personal taxes by $20 billion over six years, including increasing the basic personal amount that can be earned tax-free, and raising the upper limit of the two lowest personal income-tax brackets.
-Cut business taxes by $2 billion over six years.
-Improve access to financing for consumers and businesses with support of up to $200 billion, including $50 billion extra for the Insured Mortgage Purchase Program, and a $12-billion secured credit facility to improve access to financing to buy and lease new vehicles.
-$12 billion ($7 billion in new cash) for infrastructure spending on things like roads, sewers and universities, including $1 billion for "green" infrastructure, and $1 billion for clean-energy research.
-$7.8 billion for social housing and private home renovation, including a one-year Home Renovation Tax Credit of up to $1,350 per household.
-$8.3 billion for skills and training, including $1.5 billion in new cash to retrain workers.
-Extend Employment Insurance benefits by five weeks for two years.
-$2.7 billion in short-term loans to the auto industry.
-A two-year, $1-billion Community Adjustment Fund to help communities adjust to economic hardship.
-Over $1.4 billion for aboriginal schools, health, water, housing, community services and training.
I don't think that there is anything too offensive in the budget as a whole. I would expect that the Liberals support this and pass the budget.
|