Friday, November 24, 2006

Federal Economic Update

Well after all the news stories on income splitting and other great things we expected from the fed's on Thursday. We got: nothing. You can read an article on it, but I'll give you a summary.

Pay down the debt. Ok this is a good idea, but at $3 billion a year this will take a while.

Use interest savings on the debt to reduce income tax. Again a good idea, but really this will amount to something like $20/person in Canada next year. Oh yes, I can finally retire an entire minute sooner than I planned.

Reduce the GST to 5%. Hell SK managed to reduce their PST to that already. Besides your already told us about reducing the GST to 5% when you dropped it to 6%.

The rest of it was, well, hazy and vague. Here's hoping the new budget is better.

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