[Newsbot]

Title: Liberal fiscal plan outlines $146.5B in spending, $1B surplus
Category: Political
Posted By: andyt
Date: 2015-09-26 09:06:08
Canadian

[andyt]

$1:

A Liberal government would replace the Universal Child Care Benefit, the Child Tax Benefit and National Child Benefit Supplement with a program that would be based on family income.

The plan to cancel income splitting for families would save $2 billion a year.

The Liberals would also increase a tax on the wealthiest Canadians, expected to bring in just under $3 billion annually.

What a good idea, giving supplements and tax breaks to the people who actually need it.

$1:

The party also plans to pull extra money from EI revenue, compared to what is already allotted in the Conservatives' plan, and to bring in half a billion dollars next year and $2 billion in subsequent years.

But this goes against the above, since it's a regressive tax on only low incomes.

$1:

Nor has the party counted any tax revenue that the government could accrue from the legalization of marijuana.

Well they should, if Colorado is anything to go by. 70 million in the first year, almost double that from alcohol. (Alcohol taxes seem very low in the states compared to ours). Pot is taxed at 25%. I'm guessing we could tax higher here, since our booze taxes are so much higher.

[ShepherdsDog]

As Thanos pointed out in another thread, they haven't accounted for a huge revenue loss from oil sitting at close to $40 a barrel.... with the threat of even lower prices on the horizon.

[andyt]

I'd like to see a link for that, because then neither have the cons in their supposedly balanced budget for 15/16. Or if they have, then so have the Libs. None of the parties are probably incorporating the OECD forecast for lower growth for Canada. The cons tell us we're out of recession so things are just great.

[Winnipegger]

andyt andyt:

I'd like to see a link for that

Backgrounder – Growth for the middle class: The Liberal fiscal plan and costing