Areas of Direction
Some of the key items in the budget are:
- $39 billion in transfers to provinces for public services and infrastructure
- $2000/child tax credit
- Increase age limit for RRSPs
- $9.2 billion in debt reduction
- $550 million/year to combat the welfare trap
- $140 million to establish a Registered Disability Savings Plan
- Subsidies up to $2000 on low-emissions automobiles and a Car tax up to $4000
- $1.5 billion in transfers to provinces for projects that combat climate change and air pollution
- $400 million to implement national electronic health records
- $612 million to reduce hospital wait times
- $300 million for HPV vaccines
- $60 million increase in Canadian Forces wages
- $600 million for farmer savings plans
- $400 million to offset agriculture production costs
- Increase in tobacco tax to offset GST reduction
These expenditures and cuts have led to some belief that this is pre-election budget, aimed at enticing voters.
Read more about this topic: 2007 Canadian Federal Budget
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