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2007 Canadian federal budget

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676:, and that big corporations such as oil companies and major banks will receive hefty tax breaks. The Liberals were critical of the GST cut as being not an efficient tax-relief but did praise the corporate tax cuts. The mini-budget, a confidence motion did pass 127–76 but without support of any opposition party as the Liberals abstained from voting as they did with the Fall 2007 Throne Speech. 669:, although this would require the provinces do matching tax cuts. The lowest personal tax rate will be reduced from 15.5% to 15%, effective January 1, 2007 back to the same level as when the Conservatives were elected in 2006. Economists said that with the large surpluses the federal government accumulated as well as high tax levels, there was another room for significant tax cuts. 41: 664:
On October 30, 2007, the Conservatives tabled an economic statement (similar to a mini-budget) and announced various tax cuts and exemptions. Overall, the government proposed a total of $ 60 billion in tax cuts over five years, including $ 14 billion in corporate tax cuts by 2012 (or a drop of 33%),
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has stated that this situation is caused by the few Nova Scotian seats in the Federal Cabinet. This is expected to be a cut of approximately 5 million dollars. Premier MacDonald later urged all his province's MPs to vote against the budget after a letter Flaherty that was published in a Nova Scotia
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During the Throne Speech in October 2007, Harper also addressed issues surrounding the economy because of difficulties in the manufacturing and forest sectors due to the loss of numerous jobs at several companies including the three major automakers in the United States and several small to large
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Many Ontario-based and Western-Canadian columnists have supported Flaherty's budget, citing figures that indicate that the per capital income in Newfoundland and Nova Scotia has improved significantly, at the expense of Ontario, and that allowing the Maritime provinces to keep both equalization
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forest companies over the past few years. On January 10, 2008, the government announced a $ 1 billion relief fund for single-industry communities that were hit hard by recent closures particularly in the forest and manufacturing industries but also the fishing sector.
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a 1% drop of the GST to 5%, an increase of the basic personal tax exemption to $ 10,100 per year by 2009. The stated goal of the corporate tax cuts was to set Canadian corporate tax rates as the lowest in the
203:. Flaherty presented the 2007 budget on March 19, 2007. No income tax or GST cuts were announced but there were tax credits (of up to $ 310 per child) for some families with children under 18. The 737: 1038: 977: 1011: 506: 1057: 411:
newspaper. 9 of the 11 MPs voted against it in the third reading. After the 2007 passed, the government started to work on a comprise with Nova Scotia to settle the dispute.
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argued that his province will receive no new money and alleged that the Conservatives were favouring Ontario and Quebec at the expense of other provinces, which MP
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politicians have criticized the new equalization plan, as it cuts back payments on the assumption that various offshore programs will result in increased revenues.
1867: 1733: 433:, voted against the budget, because of the unfair equalization formula for Nova Scotia and Newfoundland and Labrador, and the effective cancellation of the 218:, the budget needed support of at least one opposition party. On March 29, 2007, Bill C-52, the enabling legislation to implement the budget, received 430: 944: 234:
voted against it. The budget passed 174 to 109 in the House of Commons in first reading. It would later pass the second and third readings in June.
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The Liberals and the New Democrats announced shortly following the presentation of the budget that they would not support in its current form.
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spoke in opposition to the budget, saying that the new money for Quebec was part of an effort to buy votes for the federalist
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The opposition parties criticized the mini-budget as the NDP leader Jack Layton mentioned that the budget did little for
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On June 22, 2007, the Senate passed the budget with a vote of 45–21, with only liberal senators from Atlantic Canada and
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These expenditures and cuts have led to some belief that this is pre-election budget, aimed at enticing voters.
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voted against it too, which in turn led to her removal from the Conservative caucus. The bill was given
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included $ 14 billion in new spending and $ 5.7 billion in tax cuts. This was the second budget of the
193: 245:. There was speculation that some Atlantic government members would vote against the Budget, but only 1930: 1075: 414: 315: 770: 1696: 1692: 1688: 1617: 895: 863: 322: 208: 67: 1580: 1177: 1152: 1138: 1024: 561: 457: 231: 204: 707: 1682: 1890: 238: 219: 1172: 449: 445: 1090: 8: 582: 223: 215: 444:
had applauded the budget, as his province would receive over $ 2 billion in additional
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criticized the budget as being a "betrayal" and a violation of the terms of the 2005
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https://news.yahoo.com/s/nm/20070320/wl_canada_nm/canada_quebec_election_col_4
1924: 471: 288:$ 39 billion in transfers to provinces for public services and infrastructure 830: 1653: 479: 467: 441: 302: 265: 257: 200: 89: 1107: 1432: 992: 501:, also criticized the budget for its alleged lack of funding for cities. 403: 399: 334: 947:"Tory MP says he'll vote against budget over offshore flip-flop", CBC.ca 426: 261: 246: 1295: 490:
said that the budget represented "real progress" for his province.
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payments and resource revenues would hurt Ontario even more.
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and excise tax on fuel-inefficient vehicles increased to 4000
359: 437:. He has since been removed from the Conservative caucus. 314:$ 1.5 billion in transfers to provinces for projects that 666: 478:
has disputed. Other premiers including New Brunswick's
349:$ 400 million to offset agriculture production costs 959:"Ottawa's cash stirs up Quebec election campaign", 192:for the 2007–2008 fiscal year was presented to the 1008:"Tories enjoy post-budget bounce in support: poll" 909:"N.S. premier urges revolt against federal budget" 734:"Families with children biggest winners in budget" 659: 1922: 713:. Department of Finance Canada. January 27, 2009 486:had some reservations. However, Ontario Premier 222:in the House of Commons with the support of the 974:"Equalization bickering continues after budget" 928:"Tories hint of possible deal in offshore feud" 860:http://thechronicleherald.ca/Canada/565500.html 801:"Budget 2007: A Stronger, Safer, Better Canada" 352:Increase in tobacco tax to offset GST reduction 892:http://thechronicleherald.ca/Front/565615.html 862:"Federal budget could be prelude to election" 1588: 1123: 1058:"Tory 'mini budget' survives confidence vote" 753:"Tory budget survives second confidence vote" 702: 700: 698: 696: 694: 692: 237:Many politicians believe that the changes to 990: 878:"Equalization Plan unfair, Macdonald says", 831:"Prime Minister unveils new Canada ecoTrust" 708:"Canada's Economic Action Plan: Budget 2009" 164:http://www.budget.gc.ca/2007/pdf/bp2007e.pdf 1868:2004 Conservative Party leadership election 1137: 1039:"Feds cut GST, slash personal income taxes" 1624:Leader of the Conservative Party of Canada 1595: 1581: 1130: 1116: 993:"McGuinty has reason to raise muted cheer" 689: 284:Some of the key items in the budget were: 166:Aspire to a Stronger, Safer, Better Canada 431:Cumberland—Colchester—Musquodoboit Valley 27:Budget of the Canadian Federal Government 1885:2008–2009 Canadian parliamentary dispute 1103:Domestic policy of the Harper government 1055: 1036: 1005: 971: 925: 906: 750: 429:, Conservative Member of Parliament for 360:Enhancements to registered savings plans 260:voting against it. Conservative senator 1014:from the original on November 26, 2007. 980:from the original on November 26, 2007. 759:from the original on February 25, 2021. 740:from the original on February 25, 2021. 249:did, and was subsequently removed from 1923: 346:$ 600 million for farmer savings plans 1576: 1111: 279: 731: 321:$ 400 million to implement national 915:from the original on June 12, 2007. 13: 1602: 841:from the original on June 22, 2007 781:from the original on June 25, 2007 373:Registered Disability Savings Plan 276:, about two hours after the vote. 14: 1957: 880:Canadian Broadcasting Corporation 379:Registered education savings plan 301:$ 550 million/year to combat the 807:. March 19, 2007. Archived from 39: 1068: 1049: 1030: 1018: 999: 991:Urquhar, Ian (March 21, 2007). 984: 965: 950: 938: 919: 900: 894:"No fiscal fairness for N.S.", 660:October 2007 economic statement 515:Budget Implementation Act, 2007 510: 885: 869: 853: 823: 793: 763: 744: 725: 386:Canada Education Savings Grant 1: 1056:CTV News (October 31, 2007). 1037:CTV News (October 30, 2007). 683: 512:House of Commons vote on the 371:$ 140 million to establish a 1703:Conservative Party of Canada 1163:Department of Finance Canada 835:Office of the Prime Minister 391: 214:Since the government held a 7: 1096: 1091:CBC's report on the budget. 1006:CTV News (March 22, 2007). 972:CTV News (March 20, 2007). 771:"Senate passes Tory budget" 751:CTV News (March 26, 2007). 10: 1962: 1800:Federal Accountability Act 1168:Governor general's warrant 926:CTV News (June 12, 2007). 907:CTV News (June 10, 2007). 623: 602: 581: 560: 539: 532: 529: 526: 523: 460:before the March 26, 2007 307:Subsidies up to $ 2000 on 194:House of Commons of Canada 1936:2007 in Canadian politics 1901: 1860: 1818: 1742: 1711: 1672: 1610: 1517: 1454: 1431: 1373: 1315: 1294: 1186: 1145: 640: 520: 415:Newfoundland and Labrador 381:annual contribution limit 339:$ 60 million increase in 323:electronic health records 309:low-emissions automobiles 170: 159: 151: 143: 132: 122: 114: 106: 95: 83: 73: 63: 55: 47: 38: 31: 1810:Veterans' Bill of Rights 1697:41st Canadian Parliament 1693:40th Canadian parliament 1689:39th Canadian parliament 1660:Leader of the Opposition 1618:Prime Minister of Canada 896:Halifax Chronicle-Herald 864:Halifax Chronicle-Herald 327:$ 612 million to reduce 209:39th Canadian Parliament 1946:2007 government budgets 1874:Canada's New Government 1805:QuĂ©bĂ©cois nation motion 1178:New shoes on budget day 1153:Canadian federal budget 1139:Canadian federal budget 1025:Summary of Vote No. 202 458:Liberal Party of Quebec 365:Increase age limit for 291:$ 2000/child tax credit 190:Canadian federal budget 1683:28th Canadian Ministry 1662:(2002–2004, 2004–2006) 674:impoverished Canadians 1891:Emperor Haute Couture 1852:2015 federal election 1846:2011 federal election 1839:2008 federal election 1832:2006 federal election 1826:2004 federal election 1060:. CTV. Archived from 1041:. CTV. Archived from 930:. CTV. Archived from 837:. February 12, 2007. 805:Department of Finance 482:, British Columbia's 316:combat climate change 1941:2007 in Canadian law 1734:Environmental policy 1173:Canadian public debt 1076:"2007 Throne Speech" 1064:on November 2, 2007. 1045:on October 31, 2007. 446:equalization payment 228:New Democratic Party 1665:Born April 30, 1959 1158:Minister of Finance 1082:. October 17, 2007. 995:. The Toronto Star. 517: 462:provincial election 384:Enhancement in the 329:hospital wait times 28: 511: 333:$ 300 million for 280:Areas of direction 107:Total expenditures 18: 1918: 1917: 1644:Calgary Southwest 1570: 1569: 1308: 1231: 934:on June 14, 2007. 833:(Press release). 803:(Press release). 777:. June 22, 2007. 657: 656: 476:Maurice Vellacott 318:and air pollution 294:$ 9.2 billion in 186: 185: 1953: 1931:Canadian budgets 1634:Calgary Heritage 1597: 1590: 1583: 1574: 1573: 1306: 1229: 1132: 1125: 1118: 1109: 1108: 1084: 1083: 1072: 1066: 1065: 1053: 1047: 1046: 1034: 1028: 1022: 1016: 1015: 1003: 997: 996: 988: 982: 981: 969: 963: 954: 948: 942: 936: 935: 923: 917: 916: 904: 898: 889: 883: 873: 867: 857: 851: 850: 848: 846: 827: 821: 820: 818: 816: 797: 791: 790: 788: 786: 767: 761: 760: 748: 742: 741: 729: 723: 722: 720: 718: 712: 704: 518: 495:Mayor of Toronto 408:Rodney MacDonald 270:Governor-General 198:Finance Minister 155:C$ 457.6 billion 118:C$ 199.5 billion 115:Program Spending 110:C$ 232.8 billion 85:Finance minister 43: 29: 26: 24: 17: 1961: 1960: 1956: 1955: 1954: 1952: 1951: 1950: 1921: 1920: 1919: 1914: 1897: 1894:(2011 painting) 1880:Afghanistan War 1856: 1814: 1738: 1729:Economic policy 1724:Domestic policy 1707: 1668: 1606: 1601: 1571: 1566: 1513: 1450: 1427: 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1762: 1757: 1752: 1746: 1744: 1740: 1739: 1737: 1736: 1731: 1726: 1721: 1719:Foreign policy 1715: 1713: 1709: 1708: 1706: 1705: 1699: 1685: 1678: 1676: 1670: 1669: 1667: 1666: 1663: 1657: 1647: 1637: 1627: 1621: 1611: 1608: 1607: 1604:Stephen Harper 1600: 1599: 1592: 1585: 1577: 1568: 1567: 1565: 1564: 1559: 1554: 1549: 1544: 1539: 1534: 1529: 1523: 1521: 1519:Justin Trudeau 1515: 1514: 1512: 1511: 1506: 1501: 1496: 1491: 1486: 1481: 1476: 1471: 1466: 1460: 1458: 1456:Stephen Harper 1452: 1451: 1449: 1448: 1443: 1437: 1435: 1429: 1428: 1426: 1425: 1420: 1415: 1410: 1405: 1400: 1395: 1390: 1385: 1379: 1377: 1371: 1370: 1368: 1367: 1362: 1357: 1352: 1347: 1342: 1337: 1332: 1327: 1321: 1319: 1317:Brian Mulroney 1313: 1312: 1310: 1309: 1300: 1298: 1292: 1291: 1289: 1288: 1283: 1278: 1273: 1268: 1263: 1252: 1247: 1242: 1237: 1223: 1218: 1213: 1208: 1203: 1198: 1192: 1190: 1188:Pierre Trudeau 1184: 1183: 1181: 1180: 1175: 1170: 1165: 1160: 1155: 1149: 1147: 1143: 1142: 1135: 1134: 1127: 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96:Total revenue 94: 91: 88: 86: 82: 79: 76: 72: 69: 66: 62: 59:June 22, 2007 58: 54: 50: 46: 42: 37: 34: 30: 16: 1889: 1844: 1837: 1830: 1754: 1654:Calgary West 1468: 1079: 1070: 1062:the original 1051: 1043:the original 1032: 1020: 1001: 986: 967: 952: 940: 932:the original 921: 902: 887: 871: 855: 843:. Retrieved 825: 813:. Retrieved 809:the original 795: 783:. Retrieved 774: 765: 746: 727: 715:. Retrieved 678: 671: 663: 514: 503: 499:David Miller 492: 480:Shawn Graham 468:Saskatchewan 466: 442:Jean Charest 439: 413: 400:Nova Scotian 398: 395: 355: 335:HPV vaccines 303:welfare trap 283: 266:royal assent 258:Saskatchewan 255: 239:equalization 236: 213: 201:Jim Flaherty 189: 187: 90:Jim Flaherty 78:Conservative 15: 1795:2015 budget 1790:2014 budget 1785:2013 budget 1780:2012 budget 1775:2011 budget 1770:2010 budget 1765:2009 budget 1760:2008 budget 1755:2007 budget 1750:2006 budget 1743:Legislation 1674:Premiership 1656:(1993–1997) 1646:(2002–2015) 1636:(2015–2016) 1626:(2004–2015) 1620:(2006–2015) 1433:Paul Martin 530:Abstention 404:Nova Scotia 1925:Categories 732:CTV News. 684:References 427:Bill Casey 262:Anne Cools 247:Bill Casey 64:Parliament 1819:Elections 1681:Cabinet: 1296:Joe Clark 392:Reception 298:reduction 48:Presented 1712:Policies 1260:November 1234:November 1097:See also 1080:CBC News 1012:Archived 978:Archived 913:Archived 845:June 16, 839:Archived 815:June 16, 779:Archived 775:CBC News 757:Archived 738:Archived 562:Liberals 470:Premier 417:premier 406:premier 216:minority 124:Tax cuts 1861:Related 1701:Party: 1146:General 1010:. CTV. 976:. CTV. 961:Reuters 911:. CTV. 785:22 June 755:. CTV. 736:. CTV. 533:Absent 452:leader 268:by the 172:‹  160:Website 144:Surplus 136:payment 21: ( 1911:(wife) 1902:Family 1254:1978 ( 1225:1974 ( 945:cbc.ca 876:cbc.ca 717:May 8, 641:Total 521:Party 251:Caucus 226:. The 56:Passed 1256:April 711:(PDF) 367:RRSPs 343:wages 74:Party 1652:for 1642:for 1632:for 1615:22nd 1562:2024 1557:2023 1552:2022 1547:2021 1542:2019 1537:2018 1532:2017 1527:2016 1509:2015 1504:2014 1499:2013 1494:2012 1489:2011 1484:2010 1479:2009 1474:2008 1469:2007 1464:2006 1446:2005 1441:2004 1423:2003 1418:2001 1413:2000 1408:1999 1403:1998 1398:1997 1393:1996 1388:1995 1383:1994 1365:1993 1360:1992 1355:1991 1350:1990 1345:1989 1340:1988 1335:1987 1330:1986 1325:1985 1304:1979 1286:1984 1281:1983 1276:1982 1271:1981 1266:1980 1250:1977 1245:1976 1240:1975 1221:1973 1216:1972 1211:1971 1206:1970 1201:1969 1196:1968 866:.ca, 847:2007 817:2007 787:2007 719:2009 647:103 644:158 545:113 527:Nay 524:Yea 493:The 296:debt 230:and 188:The 179:2008 174:2006 152:Debt 134:Debt 68:39th 33:C-52 23:2007 19:2007 1227:May 882:.ca 653:35 650:10 611:26 587:43 575:24 569:76 196:by 1927:: 1695:, 1691:, 1650:MP 1640:MP 1630:MP 1258:, 1232:, 1078:. 773:. 691:^ 667:G7 636:1 633:0 630:1 627:2 617:3 614:0 608:0 596:1 593:5 590:0 572:0 566:0 554:6 551:5 548:0 508:. 497:, 464:. 448:. 425:. 272:, 253:. 211:. 1876:" 1872:" 1596:e 1589:t 1582:v 1262:) 1236:) 1131:e 1124:t 1117:v 849:. 819:. 789:. 721:. 181:› 100:C 25:)

Index

C-52

39th
Conservative
Finance minister
Jim Flaherty
C
Tax cuts
Debt
http://www.budget.gc.ca/2007/pdf/bp2007e.pdf
2006
2008
House of Commons of Canada
Finance Minister
Jim Flaherty
federal budget
39th Canadian Parliament
minority
First Reading
Bloc Québécois
New Democratic Party
Liberal Party
equalization
Atlantic Accord
Bill Casey
Caucus
Saskatchewan
Anne Cools
royal assent
Governor-General

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