Boom.
NDP predicts four surpluses; health care, foreign aid details pending
OTTAWA — The federal NDP says it will be able to run four years of budget surpluses and still pay for billions in campaign promises by increasing corporate tax rates.
Those promises include more health-care money for the provinces, payments NDP Leader Tom Mulcair has long vowed to increase after they are reduced next year.
The details are contained in a document the party released today that provides a high-level overview of spending and revenue projections, minus the details of each spending item.
The plan includes a jump in corporate taxes to 17 per cent from 15 per cent next fiscal year, the same year the party wants to eliminate income splitting and the doubling of the contribution limit to tax-free savings accounts to raise almost $7.2 billion in new revenue.
The party believes it can run a $4.1-billion surplus next fiscal year under the plan, based on projections from the federal budget.
Those numbers, however, are out of date and the amount of space the party has to work with is likely about $1.1 billion lower, based on calculations from the parliamentary budget officer.
The Canadian Press
NDP predicts four surpluses; health care, foreign aid details pending | National Newswatch
NDP predicts four surpluses; health care, foreign aid details pending
OTTAWA — The federal NDP says it will be able to run four years of budget surpluses and still pay for billions in campaign promises by increasing corporate tax rates.
Those promises include more health-care money for the provinces, payments NDP Leader Tom Mulcair has long vowed to increase after they are reduced next year.
The details are contained in a document the party released today that provides a high-level overview of spending and revenue projections, minus the details of each spending item.
The plan includes a jump in corporate taxes to 17 per cent from 15 per cent next fiscal year, the same year the party wants to eliminate income splitting and the doubling of the contribution limit to tax-free savings accounts to raise almost $7.2 billion in new revenue.
The party believes it can run a $4.1-billion surplus next fiscal year under the plan, based on projections from the federal budget.
Those numbers, however, are out of date and the amount of space the party has to work with is likely about $1.1 billion lower, based on calculations from the parliamentary budget officer.
The Canadian Press
NDP predicts four surpluses; health care, foreign aid details pending | National Newswatch
