Budget 2015: Not as balanced as it looks
Budget 2015 is, surprise, primarily a political document that extolls the government’s record and highlights tax cuts, but does almost nothing to deal with rising inequality or to shape the trajectory of the struggling economy.
As expected, annual contributions to Tax Free Savings Accounts are to be almost doubled to $10,000 per year, which will cost over $300 million in lost annual revenues within five years. The increase will eventually all but eliminate taxation of investment income, to the primary benefit of the very affluent earning more than $250,000 per year who collect almost half of all capital gains and dividends subject to tax.
Read moreIn cutting federal deficit, Harper covers his ears
John Ibbitson / Globe and Mail
Was it wrong for the Harper government to balance the budget this year? That depends on whether we have become as conservative as the Prime Minister thinks we are.
Read moreConservative government’s inequality budget hands billions to wealthiest families
OTTAWA—The 2015-16 federal budget contains costly measures that will exacerbate economic inequality and see billions flow to Canada’s wealthiest families while leaving the majority of Canadians with no benefit at all, says the Broadbent Institute.
Read moreBroadbent Institute Executive Director Rick Smith available to comment on 2015-16 budget
MEDIA ADVISORY
OTTAWA—Executive Director Rick Smith will be in Ottawa to react to the 2015-16 federal budget. The budget is widely expected to contain measures that will exacerbate economic inequality, including family income splitting and the doubling of TFSA contribution limits.
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