Menzies Applauds Governments First Budget: Conservatives provide real tax relief to Canadians

May 03, 2006

OTTAWA – Ted Menzies, Member of Parliament for Macleod and Parliamentary Secretary to the Minister of International Cooperation applauded the new Conservative Government’s first budget.

“Ottawa has been overtaxing people in Alberta for years and our government is delivering real tax relief that makes a difference,” said Menzies. “In fact, our government’s first budget offers nearly $20 billion in tax relief for Canadians over the next two years – more than the last four federal budgets combined. And, as a result of these measures, Albertans will pay $1 billion less in taxes in 2007.”

Overall, the government’s first budget delivers more than twice as much tax relief as new spending. These measures include:

• a 1-percentage-point cut in the GST as of July 1, 2006;
• a new Canada Employment Credit;
• a permanent legislated reduction in the lowest tax rate to 15.5 per cent as of July 1; and
• increases in the basic personal amount – the amount that all Canadians can earn without paying federal income tax.

This budget also delivers on the government’s other key priorities including support for Canadian farming communities.

In addition to the $755-million the Government has already paid through the Grains and Oilseeds Payment Plan, they have committed $1.5 billion this year that includes $500 million for farm support, plus a one-time investment of $1 billion to assist farmers in the transition to more effective programming for farm income stabilization and disaster relief.

“I am pleased to be part of a government that will stand up for Canadian farmers and is following through on the commitments we made during the election campaign,” said Menzies. “The results of our acting on these priorities will be a stronger Alberta and a better life for all Canadians.”