Budget Provides Responsible Leadership: MP Gallant

February 26, 2008

Ottawa, Ontario - “Delivering on a reputation for being prudent fiscal managers, the Conservative Government of Prime Minister Stephen Harper has delivered its third balanced budget in a row,” stated Cheryl Gallant, MP (Renfrew-Nipissing-Pembroke). “We did this and managed to reduce taxes and pay down the national debt at the same time.”

“The big news for the Upper Ottawa Valley is the $300 million dollars that has been announced for AECL. That is especially good news for the over 2500 employees who work at the Chalk River laboratories. As one of the largest employers in Renfrew County, AECL has generated thousands of spin-off jobs. With today’s announcement, AECL’s future looks better than ever.”

Building on the Government’s 2007 Fiscal and Economic Update, the Conservative government today tabled a balanced, focused and prudent budget to strengthen Canada and Ontario amidst global economic uncertainty. Budget 2008 continues reducing debt and taxes, focuses government spending, and provides additional support for sectors of the economy that are struggling.

Budget 2008 provides Canadians with the most important federally-driven personal finance innovation since the introduction of the Registered Retirement Savings Plan (RRSP): the Tax Free Savings Account. This flexible, registered, general-purpose account will allow Canadians to watch their savings – including interest income, dividend payments and capital gains – grow tax free.

“The Tax Free Savings Account is the first of its kind in Canadian history,” said MP Gallant. “It will provide all Canadians with a powerful incentive to save. An RRSP is primarily intended for retirement, but the Tax-Free Savings Account is like an RRSP for everything else in your life.”

“Municipal taxpayers in Renfrew-Nipissing-Pembroke should be happy with our announcement that the federal gas tax fund to municipalities has been extended permanently. This will provide an additional $2 billion a year, every year, forever. Our Government recognized that communities need the revenue to provide local services,” said Cheryl Gallant, MP.

“This is a budget with broad appeal to a majority of Canadians. It accomplishes our goal to provide Canadians full value for the money they pay in taxes.”

“There are challenges on the horizon,” said Cheryl Gallant, MP. “Some would have us go down the path to higher spending, higher interest payments and higher taxes. That approach is misguided. Our Government is taking the path that requires focus, prudence and discipline.”