Globe and Mail Update
Canada will be out of debt by 2021 and have the lowest tax rates on new business investment in the G7 under a sweeping fiscal plan unveiled by Finance Minister Jim Flaherty on Thursday afternoon.
Issuing a blanket release of the fall fiscal update Advantage Canada: Building a Strong Economy for Canadians, Mr. Flaherty said the Government would adopt a new national objective to eliminate the total Government debt within a generation.
http://www.theglobeandmail.com/servlet/story/RTGAM.20061123.wfiscal1123/BNStory/National/home
He says the money saved in interest will be returned to Canadians in the form of tax cuts, and any unexpected surpluses will also be ploughed into tax cuts and debt reduction.
"From this year forward, every dollar of every surplus of the Government of Canada will be applied to bringing down the debt," Mr. Flaherty told the House of Commons Standing Committee on Finance.....
We believe it's time to mobilize Canadians to make a national commitment to pay off Canada's national mortgage."
Canada will be out of debt by 2021 and have the lowest tax rates on new business investment in the G7 under a sweeping fiscal plan unveiled by Finance Minister Jim Flaherty on Thursday afternoon.
Issuing a blanket release of the fall fiscal update Advantage Canada: Building a Strong Economy for Canadians, Mr. Flaherty said the Government would adopt a new national objective to eliminate the total Government debt within a generation.
http://www.theglobeandmail.com/servlet/story/RTGAM.20061123.wfiscal1123/BNStory/National/home
He says the money saved in interest will be returned to Canadians in the form of tax cuts, and any unexpected surpluses will also be ploughed into tax cuts and debt reduction.
"From this year forward, every dollar of every surplus of the Government of Canada will be applied to bringing down the debt," Mr. Flaherty told the House of Commons Standing Committee on Finance.....
We believe it's time to mobilize Canadians to make a national commitment to pay off Canada's national mortgage."