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Budget Cuts Target Taxes and Costs in Canada Budget
The Liberal government's 1949 budget cuts income taxes by about a third, raises personal exemptions, and lowers rates effective January 1 1949. It removes several taxes on consumer goods, reduces jewellery and luggage taxes, shifts taxes to manufacturer price, and offers tax credits on dividends to spur growth. Price ceilings are lifted for flour and staples, while rents, steel, and lumber remain controlled.
MENTIONED IN THIS ARTICLE
Mr. Abbott
Liberal Governmment
Abbott
Tex Peyees
Tex
Abbot
Canada