Mar 22, 2017

By Bob Komsic

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Federal Finance Minister Bill Morneau’s budget provides more details about the government’s infrastructure spending and plans for innovation while avoiding major tax changes.
(Justin Tang / Canada Press)
It revises the deficit for the year just ended, rising slightly to $23-billion and predicts a deficit for the coming year of $28.5-billion.
Other highlights:
—  Higher deficits for next three years falling to $18.8-billion in 2021-22
—  $11.2-billion over 11 years for housing, already budgeted, will go toward a housing strategy
—  $7-billion over 10 years, already budgeted, for new day care spaces starting in 2018-19
—  New care-giving benefit up to 15 weeks, starting next year
—  Option to extend parental leave up to 18 months
—  New agency to research and measure skills development
—  $950-million over 5 years to support business-led ”superclusters”
—  $400-million over 3 years for a new venture capital catalyst initiative
—  GST to be collected on ride-sharing services like Uber
—  Another penny more tax on a bottle of wine, 5-cents on 24-case of beer
—  Canada Savings Bond program, established in 1946, being phased out
—  15% public transit tax credit for commuters who buy transit pass being eliminated July 1
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