It must have been a pleasant surprise for the federal government to receive the Parliamentary Budget Officer’s early endorsement of the Conservatives’ 2015 re-election campaign.
The endorsement came in the form of a report titled “Revenue and Distribution Analysis of Federal Tax Changes: 2005-2013.” Not very sexy, admittedly; Ottawa’s bureaucrats still have a lot of work to do on their promotional techniques. But while it lacks pizzazz, the report could stand as Plank No. 1 in the 2015 Tory platform, under the heading: “Why you should vote for us again, despite all the Mike Duffy business.”
In (relatively) straightforward terms, the report indicates eight years of Conservative rule have been a beneficial time for taxpayers. Combined reductions in taxes since 2005 amount to more than $30 billion, it says. Of that, $17 billion comes from lower personal tax rates, and $13 billion from the reduced GST/HST.
Even better, in the PBO’s own words, “Cumulative tax changes since 2005 have been progressive overall and most greatly impact low-middle income earners (households earning between $12,200 and $23,300), effectively resulting in a 4.0 per cent increase in after-tax income.”
Did you get that? “Progressive overall.” “Most greatly impact low-middle-income earners.”