The Canadian Taxpayers Federation (CTF) applauds the federal governmentâ€™s 2014-15 budget, one that projects the first year-over-year spending cut since the ChrÃ©tien-Martin era.
Weâ€™re pleased and encouraged that Stephen Harper and Jim Flaherty are on track to keep their election promise and balance the budget in 2014-15.
The challenge facing all parties and leaders now is to return the projected $30-billion surplus to Canadian taxpayers over the next five years, by paying down debt and reversing Employment Insurance payroll tax hikes.
The government has hiked maximum EI taxes 28 per cent since the 2008 financial meltdown. The 2014 budget forecasts EI premium revenue to surpass benefits by $14.1 billion over the next three years.
Canadians would rather see more money on their paycheque than see $20 million frittered away on snowmobile trails and boutique tax credits.
The CTF slammed $500 million in additional spending on the Automobile Innovation Fund.
â€œTaxpayers shouldnâ€™t be giving millions to pad the bottom lines of these global automakers,â€ said Candice Malcolm, CTF Ontario Director. â€œChrysler, Ford, GM, Toyota, Honda and others should all fund their R&D from the billions they book in profits.â€
Stephen Harper promised tax relief once the budget was balanced. Canadians have been very patient. Itâ€™s time for the prime minister to deliver on his election promise, and deliver tax cuts and bigger paycheques to Canadians.
Gregory Thomas, Canadian Taxpayers Federation