32:
234:, into which an individual can deposit up to $ 5,000 a year. Flaherty said that it is the "single most important savings vehicle since the introduction of the RRSP". The TFSA was touted as a badly needed addition to the Canadian tax system as it did not make sense for low income earners and seniors to make use of existing savings programs with tax incentives, such as RRSPs. In contrast, the TFSA could be used by such demographics to enjoy savings with tax benefits.
1634:
386:. Flaherty served notice to the House of Commons on March 11 that he would introduce a motion to nullify the bill by including a provision to do so in legislation implementing the federal budget, which is automatically a confidence motion. The RESP bill was the first time since 1840 that the Commons had attempted to force a change to the government's budget.
323:. Aaron Freeman, policy director for the Environmental Defence, criticized the government for having no clear direction on the environment making reference to the suspension after 2008 of the tax-rebate program on fuel-efficient vehicles but praised the funding for transit and for the protection of consumers from toxins in products.
257:
The NDP argued that the budget failed to address the need for average workers while the winners were banks, polluting industries and the well-off. Social programs got one-time commitments while corporate tax cuts were granted for many years. They further mentioned that tax cuts for big business
237:
Funding was also announced for public transit, infrastructures, hiring new police officers, the reconstruction of
Afghanistan, a new Student Grant Program (replacing the Millennium Scholarship Fund) and for the manufacturing sectors. In addition, the government announced the creation of a new
211:(TFSA). The government announced there would be little to no new tax breaks as major tax cuts took place in the economic update during the fall of 2007 in anticipation of economic slowdowns in 2008. It was to be the last budget of the Conservative government's first term in office.
250:, while criticizing the budget as modest and being "one mile wide" and "one inch deep", said that the party will support the budget due to measures announced surrounding the manufacturing sector as well as environment due to avoiding a spring election. Both the
342:
that would give parents substantial tax breaks for saving education money; taxpayers who deposited $ 5,000 into a RESP for their children's post-secondary education would earn a $ 5,000 tax deduction, similar to the deduction allowed for contributions to a
288:
also criticized the budget by saying that it does not reflect the priorities for Quebec including the province's forest sector and post-secondary education. The
Minister did praised however the permanency of gas tax rebate for the municipalities.
238:
independent crown corporation to administer the
Employment Insurance System while gas tax rebate fund to the cities was made permanent. 10.2 billion dollars will be spent on the payment of the national debt.
273:
believed that the budget came short in regards to the manufacturing sector and claimed that it was a "missed opportunity for
Ontario and Ottawa to work together during a tough economic period".
303:, mentioned however that the plan will give little to the average worker while Don Scott, a taxation specialist, added that the program may incite some investors to contribute less to their
661:
605:
1574:
1440:
684:
499:
582:
1435:
1430:
1425:
836:
230:
The 2008 budget was tabled on
February 26, 2008. No new tax cuts were announced in the budget, but Finance Minister Jim Flaherty announced the creation of a new
1591:
1366:
563:
1675:
367:
222:
had submitted a long list of budgetary demands to be met, which effectively eliminated them from budget negotiations. They voted against the budget.
1301:
620:
356:
966:
940:
296:
420:
665:
719:
829:
1699:
962:
1321:
746:
299:
mentioned and applauded that the registered savings plan was "very good" for the middle class. Economist Andrew
Jackson, from the
1714:
1709:
1586:
933:
495:
799:
586:
1558:
1552:
1545:
1538:
1532:
822:
547:
312:
263:
The Bloc criticized insufficient funding for the forestry sector the lack of major announcements for the province of Quebec.
474:
1704:
1668:
1511:
1380:
1356:
1346:
1336:
874:
292:
267:
1501:
1496:
1491:
1486:
1481:
1476:
1471:
1461:
1456:
1409:
1330:
1294:
1268:
1263:
1258:
1253:
1248:
1243:
1238:
1233:
1215:
1210:
1205:
1200:
1195:
1190:
1185:
1175:
1170:
1152:
1147:
1129:
1124:
1119:
1114:
1109:
1104:
1099:
1094:
1089:
1071:
1066:
1061:
1056:
1051:
1046:
1041:
1036:
1031:
1010:
992:
987:
982:
977:
972:
956:
951:
946:
927:
922:
917:
912:
907:
902:
869:
864:
282:
190:
169:
164:
60:
646:
278:
1516:
1580:
1506:
363:
218:
had pledged not to push for an election in the spring of 2008, and so guaranteed their support for the budget. The
186:
1694:
601:
125:
1661:
1403:
1399:
1395:
1324:
348:
307:. The creation of the new savings account also had positive reviews from several Canadian newspapers including
300:
231:
208:
50:
775:
521:
339:
1287:
884:
859:
845:
680:
567:
215:
181:
1389:
374:, approved the bill for debate, it is constitutionally decreed that any money measure that does not have
259:
1597:
285:
31:
879:
383:
332:
251:
219:
1641:
379:
316:
413:
723:
1350:
246:
As did in the past, the 2008 Conservative budget was met with mixed reactions. Liberal leader
1645:
1340:
1081:
542:
247:
67:
804:
382:, is to be considered unlawful. So, any private member's money bill must be regarded as a
130:
112:
83:
634:
LCN (2008-02-26). "Le budget
Flaherty ne reflète pas les priorités du Québec". Canoe.ca.
281:
argued that the budget was a step in the wrong direction for the auto industry as well.
1615:
1310:
1225:
1162:
1023:
894:
444:
371:
200:
1688:
320:
274:
270:
1360:
352:
335:
204:
193:
72:
698:
1633:
1139:
809:
470:
151:
1002:
308:
814:
214:
The budget was deemed ordinary and uncontroversial by the press. The
662:"Tories offer a grab-bag of low-cost budget goodies for Canadians"
1279:
344:
304:
254:
and the NDP announced that they were voting against the budget.
1283:
818:
776:"Flaherty serves notice of motion to kill Liberal RESP bill"
545:(February 27, 2008). "Sans surprise et sans conséquences".
751:: MP's ruse defeated; God save the Queen; March 19, 2008
1649:
258:
were larger than new spending by a ratio of 6 to 1.
1608:
1567:
1525:
1449:
1418:
1379:
1224:
1161:
1138:
1080:
1022:
1001:
893:
852:
621:"Tory budget comes up short: Ont. finance minister"
359:, there was no deduction for annual contributions.
185:for the 2008-2009 fiscal year was presented to the
147:
137:
124:
111:
101:
91:
78:
66:
56:
46:
38:
412:Department of Finance Canada (January 27, 2009).
566:. Department of Finance Canada. Archived from
351:, introduced in Conservative Finance Minister
1669:
1295:
830:
407:
405:
403:
401:
399:
152:http://www.budget.gc.ca/2008/pdf/plan-eng.pdf
8:
765:; University of Toronto Press; Toronto, 1968
445:"Canada's deficits and surpluses, 1963-2014"
414:"Canada's Economic Action Plan: Budget 2009"
203:of $ 10.2 billion to be applied to pay down
16:
1575:2004 Conservative Party leadership election
742:
740:
681:"Tories introduce Tax-Free Savings Account"
562:Department of Finance Canada (2008-02-26).
1676:
1662:
1331:Leader of the Conservative Party of Canada
1302:
1288:
1280:
837:
823:
815:
800:Department of Finance Canada - Budget 2008
602:"Help for the middle class in Tory budget"
362:Though McTeague's bill passed through the
15:
25:Budget of the Canadian Federal Government
1592:2008–2009 Canadian parliamentary dispute
471:"CBC News In Depth: Federal Budget 2008"
378:, that is, if it doesn't originate from
608:from the original on February 28, 2008.
395:
522:"Federal budget to come down Feb. 26"
502:from the original on 18 February 2009
7:
1630:
1628:
664:. The Ottawa Citizen. Archived from
585:. The Ottawa Citizen. Archived from
761:Corry, J. A. and Hodgetts, J. E.;
687:from the original on March 2, 2008.
581:Canwest News Service (2008-02-26).
426:from the original on March 13, 2009
160:Numbers in italics are projections.
1648:. You can help Knowledge (XXG) by
763:Democratic Government and Politics
701:. The Toronto Star. March 10, 2008
498:. The Globe and Mail. 2008-02-27.
14:
564:"Tax-Free Savings Account (TSFA)"
477:from the original on 3 March 2009
451:. CBC/Radio-Canada. 18 March 2014
1632:
496:"Small change for tighter times"
419:. Department of Finance Canada.
30:
720:"Constitution Act, 1867; IV.54"
660:Beauchesne, Eric (2008-02-26).
207:, and the introduction of the
1:
293:Canadian Taxpayers Federation
1410:Conservative Party of Canada
870:Department of Finance Canada
327:McTeague private member bill
645:Radio-Canada (2008-02-27).
279:Canadian Auto Workers Union
1731:
1627:
1507:Federal Accountability Act
875:Governor general's warrant
364:House of Commons of Canada
187:House of Commons of Canada
1700:2008 in Canadian politics
1317:
158:
29:
1517:Veterans' Bill of Rights
1404:41st Canadian Parliament
1400:40th Canadian parliament
1396:39th Canadian parliament
1367:Leader of the Opposition
1325:Prime Minister of Canada
647:"Un accueil circonspect"
366:on March 5, 2008, after
349:Tax-Free Savings Account
301:Canadian Labour Congress
232:Tax-Free Savings Account
209:Tax-Free Savings Account
1715:Canada government stubs
1710:2008 government budgets
1581:Canada's New Government
1512:Québécois nation motion
885:New shoes on budget day
860:Canadian federal budget
846:Canadian federal budget
679:CTV News (2008-02-26).
619:CTV News (2008-02-26).
600:CTV News (2008-02-26).
520:CBC News (2008-02-11).
283:Quebec Finance Minister
182:Canadian federal budget
1644:–related article is a
1390:28th Canadian Ministry
1369:(2002–2004, 2004–2006)
699:"McTeague's manoeuvre"
473:. cbc.ca. 2008-02-26.
199:The budget included a
196:on February 26, 2008.
154:Responsible Leadership
1598:Emperor Haute Couture
1559:2015 federal election
1553:2011 federal election
1546:2008 federal election
1539:2006 federal election
1533:2004 federal election
340:Private Member's Bill
286:Monique Jerome-Forget
1705:2008 in Canadian law
1441:Environmental policy
880:Canadian public debt
778:. The Canadian Press
384:Motion of Confidence
376:royal recommendation
368:Speaker of the House
1642:Canadian government
1372:Born April 30, 1959
865:Minister of Finance
583:"Budget Highlights"
26:
749:The Globe and Mail
317:The Globe and Mail
92:Total expenditures
1657:
1656:
1625:
1624:
1351:Calgary Southwest
1277:
1276:
1015:
938:
543:Marissal, Vincent
177:
176:
106:C$ 206.76 billion
42:February 27, 2008
1722:
1695:Canadian budgets
1678:
1671:
1664:
1636:
1629:
1341:Calgary Heritage
1304:
1297:
1290:
1281:
1013:
936:
839:
832:
825:
816:
787:
786:
784:
783:
772:
766:
759:
753:
747:Reynolds, Neil;
744:
735:
734:
732:
731:
722:. Archived from
716:
710:
709:
707:
706:
695:
689:
688:
676:
670:
669:
657:
651:
650:
642:
636:
635:
631:
625:
624:
616:
610:
609:
597:
591:
590:
578:
572:
571:
559:
553:
552:
539:
533:
532:
530:
529:
517:
511:
510:
508:
507:
492:
486:
485:
483:
482:
467:
461:
460:
458:
456:
441:
435:
434:
432:
431:
425:
418:
409:
268:Finance Minister
191:Finance Minister
161:
142:C$ 458.7 billion
102:Program Spending
96:C$ 237.4 billion
68:Finance minister
34:
27:
24:
22:
1730:
1729:
1725:
1724:
1723:
1721:
1720:
1719:
1685:
1684:
1683:
1682:
1626:
1621:
1604:
1601:(2011 painting)
1587:Afghanistan War
1563:
1521:
1445:
1436:Economic policy
1431:Domestic policy
1414:
1375:
1313:
1308:
1278:
1273:
1220:
1157:
1134:
1076:
1018:
1014:(never adopted)
997:
937:(never adopted)
889:
848:
843:
796:
791:
790:
781:
779:
774:
773:
769:
760:
756:
745:
738:
729:
727:
718:
717:
713:
704:
702:
697:
696:
692:
678:
677:
673:
659:
658:
654:
649:. Radio-Canada.
644:
643:
639:
633:
632:
628:
618:
617:
613:
599:
598:
594:
580:
579:
575:
561:
560:
556:
541:
540:
536:
527:
525:
519:
518:
514:
505:
503:
494:
493:
489:
480:
478:
469:
468:
464:
454:
452:
443:
442:
438:
429:
427:
423:
416:
411:
410:
397:
392:
329:
297:John Williamson
244:
228:
173:
167:
159:
119:C$ 30.7 billion
86:$ 236.4 billion
20:
18:
12:
11:
5:
1728:
1726:
1718:
1717:
1712:
1707:
1702:
1697:
1687:
1686:
1681:
1680:
1673:
1666:
1658:
1655:
1654:
1637:
1623:
1622:
1620:
1619:
1616:Laureen Harper
1612:
1610:
1606:
1605:
1603:
1602:
1594:
1589:
1584:
1577:
1571:
1569:
1565:
1564:
1562:
1561:
1556:
1549:
1542:
1535:
1529:
1527:
1523:
1522:
1520:
1519:
1514:
1509:
1504:
1499:
1494:
1489:
1484:
1479:
1474:
1469:
1464:
1459:
1453:
1451:
1447:
1446:
1444:
1443:
1438:
1433:
1428:
1426:Foreign policy
1422:
1420:
1416:
1415:
1413:
1412:
1406:
1392:
1385:
1383:
1377:
1376:
1374:
1373:
1370:
1364:
1354:
1344:
1334:
1328:
1318:
1315:
1314:
1311:Stephen Harper
1309:
1307:
1306:
1299:
1292:
1284:
1275:
1274:
1272:
1271:
1266:
1261:
1256:
1251:
1246:
1241:
1236:
1230:
1228:
1226:Justin Trudeau
1222:
1221:
1219:
1218:
1213:
1208:
1203:
1198:
1193:
1188:
1183:
1178:
1173:
1167:
1165:
1163:Stephen Harper
1159:
1158:
1156:
1155:
1150:
1144:
1142:
1136:
1135:
1133:
1132:
1127:
1122:
1117:
1112:
1107:
1102:
1097:
1092:
1086:
1084:
1078:
1077:
1075:
1074:
1069:
1064:
1059:
1054:
1049:
1044:
1039:
1034:
1028:
1026:
1024:Brian Mulroney
1020:
1019:
1017:
1016:
1007:
1005:
999:
998:
996:
995:
990:
985:
980:
975:
970:
959:
954:
949:
944:
930:
925:
920:
915:
910:
905:
899:
897:
895:Pierre Trudeau
891:
890:
888:
887:
882:
877:
872:
867:
862:
856:
854:
850:
849:
844:
842:
841:
834:
827:
819:
813:
812:
807:
802:
795:
794:External links
792:
789:
788:
767:
754:
736:
711:
690:
671:
668:on 2012-11-04.
652:
637:
626:
611:
592:
589:on 2012-11-04.
573:
570:on 2008-10-12.
554:
534:
512:
487:
462:
436:
394:
393:
391:
388:
372:Peter Milliken
328:
325:
252:Bloc Québécois
243:
240:
227:
224:
220:Bloc Québécois
175:
174:
168:
162:
156:
155:
149:
145:
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139:
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128:
122:
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99:
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63:
58:
54:
53:
48:
44:
43:
40:
36:
35:
13:
10:
9:
6:
4:
3:
2:
1727:
1716:
1713:
1711:
1708:
1706:
1703:
1701:
1698:
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1693:
1692:
1690:
1679:
1674:
1672:
1667:
1665:
1660:
1659:
1653:
1651:
1647:
1643:
1638:
1635:
1631:
1617:
1614:
1613:
1611:
1607:
1600:
1599:
1595:
1593:
1590:
1588:
1585:
1582:
1578:
1576:
1573:
1572:
1570:
1566:
1560:
1557:
1555:
1554:
1550:
1548:
1547:
1543:
1541:
1540:
1536:
1534:
1531:
1530:
1528:
1524:
1518:
1515:
1513:
1510:
1508:
1505:
1503:
1500:
1498:
1495:
1493:
1490:
1488:
1485:
1483:
1480:
1478:
1475:
1473:
1470:
1468:
1465:
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1460:
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1455:
1454:
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1434:
1432:
1429:
1427:
1424:
1423:
1421:
1417:
1411:
1407:
1405:
1401:
1397:
1394:Parliaments:
1393:
1391:
1387:
1386:
1384:
1382:
1378:
1371:
1368:
1365:
1362:
1358:
1355:
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1348:
1345:
1342:
1338:
1335:
1332:
1329:
1326:
1323:
1320:
1319:
1316:
1312:
1305:
1300:
1298:
1293:
1291:
1286:
1285:
1282:
1270:
1267:
1265:
1262:
1260:
1257:
1255:
1252:
1250:
1247:
1245:
1242:
1240:
1237:
1235:
1232:
1231:
1229:
1227:
1223:
1217:
1214:
1212:
1209:
1207:
1204:
1202:
1199:
1197:
1194:
1192:
1189:
1187:
1184:
1182:
1179:
1177:
1174:
1172:
1169:
1168:
1166:
1164:
1160:
1154:
1151:
1149:
1146:
1145:
1143:
1141:
1137:
1131:
1128:
1126:
1123:
1121:
1118:
1116:
1113:
1111:
1108:
1106:
1103:
1101:
1098:
1096:
1093:
1091:
1088:
1087:
1085:
1083:
1082:Jean Chrétien
1079:
1073:
1070:
1068:
1065:
1063:
1060:
1058:
1055:
1053:
1050:
1048:
1045:
1043:
1040:
1038:
1035:
1033:
1030:
1029:
1027:
1025:
1021:
1012:
1009:
1008:
1006:
1004:
1000:
994:
991:
989:
986:
984:
981:
979:
976:
974:
971:
968:
964:
960:
958:
955:
953:
950:
948:
945:
942:
935:
931:
929:
926:
924:
921:
919:
916:
914:
911:
909:
906:
904:
901:
900:
898:
896:
892:
886:
883:
881:
878:
876:
873:
871:
868:
866:
863:
861:
858:
857:
855:
851:
847:
840:
835:
833:
828:
826:
821:
820:
817:
811:
808:
806:
805:Budget Speech
803:
801:
798:
797:
793:
777:
771:
768:
764:
758:
755:
752:
750:
743:
741:
737:
726:on 2006-06-14
725:
721:
715:
712:
700:
694:
691:
686:
682:
675:
672:
667:
663:
656:
653:
648:
641:
638:
630:
627:
622:
615:
612:
607:
603:
596:
593:
588:
584:
577:
574:
569:
565:
558:
555:
550:
549:
544:
538:
535:
523:
516:
513:
501:
497:
491:
488:
476:
472:
466:
463:
450:
446:
440:
437:
422:
415:
408:
406:
404:
402:
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396:
389:
387:
385:
381:
377:
373:
369:
365:
360:
358:
354:
350:
346:
341:
337:
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61:Conservative
1502:2015 budget
1497:2014 budget
1492:2013 budget
1487:2012 budget
1482:2011 budget
1477:2010 budget
1472:2009 budget
1467:2008 budget
1462:2007 budget
1457:2006 budget
1450:Legislation
1381:Premiership
1363:(1993–1997)
1353:(2002–2015)
1343:(2015–2016)
1333:(2004–2015)
1327:(2006–2015)
1140:Paul Martin
810:Budget Plan
357:2008 budget
1689:Categories
782:2008-03-13
730:2020-06-30
705:2008-03-10
528:2015-10-14
506:2009-02-17
481:2009-02-17
430:2009-05-08
390:References
370:, Liberal
226:Highlights
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1526:Elections
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548:La Presse
380:the Crown
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