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Martin Budget Triggers Tax Increases and Debt Warnings
Ottawa budget headlines include higher prices from a 1.5 cent per litre gas tax hitting families and deficits projected at 24.3 billion by year three, with a total debt around 603 billion in 1996-97. The plan cuts departments by 14 percent yet promises efficiency, privatization of CN Rail, sale of Petro-Canada shares, and a shift to block grants to provinces. Paul Martin urges bold reform to end universalist programs and empower regional control while warning of rising interest costs as the economy diversifies.
MENTIONED IN THIS ARTICLE
Ottawa
Martin
Godzilla
USA
Moody’s
Jean
Manitoba
Ron Duhamel
House of Commons Finance Committee
David Walker
CN Rail
Petro-Canada
Feds
Paul Martin