Focus on Public Policy and Taxation: Canada's Federal Budget 2007

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Focus on Public Policy and Taxation: Canada's Federal Budget 2007

Author(s):

Reporter, Cyrus, Schweitzer, Tony

Date: March 20 2007

Canada’s Minister of Finance Jim Flaherty delivered the Conservative Government’s second federal budget on March 19, 2007. The Budget emphasizes three key goals:

Initiatives to restore "Fiscal Balance" between the Federal and Provincial Governments
Establishment of a Working Families Tax Plan to reduce the taxes, in particular for lower- and middle-income families
Investments directed at the environment and the health care system

The main themes of Budget 2007 include: Environment and Health, Tax Relief, Fiscal Balance, Security, and Capital Markets. Key Conservative promises include the Tax Back Guarantee that will dedicate approximately $1 billion per year in debt interest savings to ongoing personal income tax reductions.

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