Budget 2008

March 10, 2008

Building on the Government’s 2007 Fiscal and Economic Update, our Conservative government introduced a balanced, focused and prudent budget to strengthen Canada and Alberta. Budget 2008 continues to reduce debt, lower taxes and focuses government spending.

Budget 2008 demonstrates responsible leadership by:

• Paying down debt. Since taking office, our Government has paid down more than $37 billion in debt, including $10.2 billion this fiscal year, saving taxpayers $2 billion in interest.
• Strengthening Canada’s tax advantage. Our Government has delivered almost $200 billion in tax relief over this and the next five years, including lowering the GST to 5%. Budget 2008 also created a new, flexible, registered, general-purpose Tax-Free Savings Account which will allow Canadians to watch their savings – including interest income, dividend payments and capital gains – grow tax free.
• Protecting Canadians. We are providing $43 million to Alberta to hire new front line police officers.
• Investing in the future. We are extending the federal gas tax fund to municipalities permanently. This will provide an additional $70 million annually to the city of Calgary to fund municipal infrastructure.
  

Budget 2008 is a realistic and responsible way forward. For more information please visit www.budget.gc.ca/2008/index.html or call 1-800-O CANADA