Wednesday, October 31, 2007

Scary Halloween for dion

Today is Hallowe'en, a day for ghost od the past to rise and witches to fly. Hm Minister of Finance has completely overwhelmed the headlines with the mini budget. There is nary a word about the income trust matter or the 1995 referendum. HM Government is setting the agenda in the media, even with an almost universally unfriendly media. There is plenty of money left to cut the debt and announce even more personal tax cuts.

Wed, October 31, 2007
Liberals spooked
There's not a ghost of a chance Dion can oppose this

By LICIA CORBELLA
Things just keep looking scarier and scarier for federal Liberal Leader Stephane Dion.

Yesterday's economic update by the federal Conservatives may have dished out immediate goodies for every Canadian taxpayer, but it is all trick and no treat for the embattled Dion and his Liberal minions.

The timing of this update is interesting.

It fell on the first anniversary of the Conservative's broken promise to not tax income trusts and on the 12th anniversary of that fright night in 1995 when the Quebec referendum on sovereignty had Canadians sitting on the edge of their seats only to learn that Canada was saved from divorce by the vote-equivalent of the thickness of a candy wrapper.

By making this announcement yesterday, Finance Minister Jim Flaherty ensured those potential headlines about ghosts of Halloweens past got buried under the good news that will keep on giving into the future.

Cutting the GST from 6% to 5% starting on Jan. 1, 2008, means the Conservatives' kept promise is bigger news than the first anniversary of their biggest -- if not only -- broken election promise.

By making personal income tax cuts retroactive to Jan. 1, 2007, cutting the lowest marginal tax rate to 15% from 15.5% -- something the Liberals vowed to do -- and raising the basic personal exemption to $9,600, retroactive to Jan. 1, 2007, increasing to $10,100 in 2009, Canadians take home pay will increase as will their purchasing power.

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