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moneysense.ca, 4/03/10
What to expect in Budget 2010
Unless the Government decides to spring a big surprise, the 2010 Federal Budget promises to be a big yawn. Here’s what we can expect in Budget 2010:
- The Government says that there won’t be any tax cuts (no surprise there, considering that the deficit will run at $56 Billion this year) or any tax increases in this year’s budget. But the Government’s understanding of the term “tax” is a lot narrower than the public’s. Employment Insurance premiums are expected to increase and it is almost certain that user fees will go up. Already the airport security fee has been increased to purportedly fund the new full-body scanners.
- It is almost certain that the popular Home Renovation Tax Credit won’t make a comeback.
- The budget will mostly talk about plans to tackle the deficit in future years while continuing to spend on stimulus programs. Look for words like “restraint”, “prudent” and “responsible” to precede spending plans.
That’s pretty much it. And it doesn’t look like there is much appetite for provoking an election over the budget either. So, all in all, this budget promises to be a rather boring exercise.
moneysense.ca, 4/03/10
My guess would also be that they will be studying the public service pension system, as that is a BIG concern and it is a hot topic. Whether they do anything is another story (I hope not, given I am now part of this prestigious plan).
There may be a “belt tightening” exercise, but given that wages with the Public Service are already negotiated, not sure that means much either.
Oh and they will be having the national anthem rewritten by John Tesh!
“But the Government’s understanding of the term “tax” is a lot narrower than the public’s”
True dat CC!
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