On March 4th, the federal budget was presented by Finance Minister Jim Flaherty in Ottawa.  As expected, this budget illustrates the government’s plan for caution and patience and looking forward to the future. 

In the second year of Canada’s Economic Action Plan, this budget moves carefully toward prosperity.  As a nation that has come through the global recession in much better shape than the rest of the industrialized world, we clearly have a plan that works.

With Budget 2010, we are solidifying Canada’s recovery to sustain our economic advantage now and for the future.  Our number one job has been to create and protect jobs and feed economic growth.  At the same time, we’re back on track for future balanced budgets.   A broad and diverse range of economists agree with the plans we have put in place to move forward.  The Canadian Chamber of Commerce: “Welcomed the federal government’s strategy to achieve its recovery plan, to return to balanced budgets and to promote a more innovative and competitive economy.”  The Federation of Canadian Municipalities said, “FCM applauds the federal government for protecting core investments in cities and communities as it reduces the federal budget deficit.  These investments will help local governments –and Canadian property tax payers- build the infrastructure that is the backbone of our economy and quality of life.”

This budget has reviewed spending to make sure taxpayers get good value for their money.  Personal tax cuts will exceed $3 billion, thanks to an adjustment of federal tax brackets, improvements to the Working Income Tax Benefit, higher child benefits for parents and lower taxes for seniors.
At the same time, we are working to reduce the deficit by restraining government spending.  We are going to freeze department operating budgets at the 2010-2011 level for two years thereafter.  Our Conservative government is also going to launch a comprehensive review of what the federal government spends on administration and overhead.

Since Canadian families have to live on a budget and see where they can cut costs and save money, it is only fair that the federal government does the same.
This plan will cut the federal deficit by two-thirds in three years.  Unlike the Liberals, our government is not going to raise taxes or cut spending on health care, education or support for our seniors. 

This budget addresses the right priorities and is the right budget for uncertain times.
Budget 2010 and other supporting documents are available online at www.budget.gc.ca.