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Harper Government Presents a Balanced Budget

Wednesday, 22 April 2015 05:35

The Harper government has presented a balanced budget, but many critics are unhappy with the methods used to get there.

For the first time in seven years the Harper government has presented a balanced budget. 

Finance Minister Joe Oliver made the announcement on Tuesday afternoon. 

Local MP Dave McKenzie says there is a lot to like in this budget for the people of Oxford County, and really all Canadians. McKenzie says the federal government is increasing the annual contribution limits to tax-free savings accounts to $10 000 from $5 500.

Seniors will also benefit from changes to registered retirement income funds that will require most of them to withdraw less money from those accounts every year.

He adds they also lowered the small business tax rate will be reduced from 11% to 9% by 2019. 

McKenzie says maybe the best thing about the budget is that it will be balanced with a 1.4 billion dollar surplus. 

Opposition critics claim the budget is only beneficial to the rich. They also point out Oliver drained two billion dollars from the budget's rainy-day reserve, which is generally set aside for unforeseeable events like natural disasters.

McKenzie says he didn't hear or see anything in the documents about the rainy day fund. 

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