Thanks for the tips Jimbo
Posted on February 20, 2008
Filed Under Politics |
reportonbusiness.com: Flaherty lashes Ontario for ‘lack of vision’
The McGuinty government suffers from a “lack of leadership, a lack of vision and a lack of economic stewardship,” he said in an early morning speech in Toronto to the Canadian Federation of Independent Business. The provincial government “fails to understand the long-term benefits of tax relief,” he added.
…
Ontario’s Minister of Economic Development and Trade Sandra Pupatello, who attended the speech, reacted angrily afterwards, telling reporters that Mr. Flaherty’s comments consisted of “an appalling string of bald-faced lies.”… Mr. Flaherty, who was once Ontario’s finance minister, “left Ontario with a massive deficit and headed to Ottawa and found a massive surplus thanks to the previous government.”
And is about to do the same in Ottawa. Thanks for the tips Jim, but maybe you should be more concerned about your own coffers instead the one you helped to empty and took 3 years to recover from. Oh and don’t go blaming Ontario for the pending Federal deficit, you can thank the GST cut for that.
On the subject of GST cut, I’ll merge a pending post here:
Inflation cools on GST cut
Canada’s annual inflation rate dropped to 2.2 per cent in January, as the GST cut that took effect at the start of the year helped to keep the cost of living down.
Inflation had been 2.4 per cent in December.
Statistics Canada estimates that a one percentage point cut in the GST should cut the inflation rate by 0.6 per cent “if the entire amount of the decrease were transferred to consumers through lower prices.”
Estimates have put advanced 1% GST discounted car sales in December at lowering the inflation rate by 0.2%. So there is still 0.4% of inflation that was lost to higher prices. Net result: consumers pay almost as much, government gets a lot less. Great mathematicians and economists in the Ministry of Finance. Oh wait, they don’t believe in science anymore.
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