Cross Posted at slothropia.com
The Conservative Government of Canada released it latest budget today. Turns out there's a bad economy up north as well.
Here are the highlight of today's Canadian Federal budget (thanks CTV) :
* $85 billion deficit over the nest five years
* Personal taxes down $20 billion over six years
* Business taxes cut by $2 billion over six years
* $12 billion for infrastructure spending towards roads, sewers and universities, $1 billion for "green" infrastructure, and $1 billion for clean-energy research.
* $1.5 billion for job training programs
* $7.8 billion for social housing and home renovation, including a one-year only Home Renovation Tax Credit of up to $1,350 per household.
* $2.7 billion in short-term loans to the auto industry.
* More than $1.4 billion for aboriginal schools, health, water, housing, community services and training.
* About $325 million for arts and culture.
This is the Canadian version of a stimulus package and resembles in some way the legislation now working its way through the U.S. Congress.
Prime Minister Harper insisted during last fall's election campaign that there was no need for the Canadian government to run a deficit because the Canadian economy was stronger than the American one. Was he mistaken or did he lie? That's right, he made stuff up, Conservatives can't help themselves I guess.
The NDP and the Bloc have made it clear that they will vote against the budget, so all eyes turn to Liberal LeaderMichael Ignatieff. He will announce his decision Wednesday morning.
I have two toonies and a loonie that says the Libs will back the Tories, just as they regularly did in the last parliament. Any takers?
I'll be back tomorrow with more on the budget debate and upcoming confidence votes.