Here are some highlights of the 2015-16 federal budget introduced Tuesday by Finance Minister Joe Oliver:
–The budget is balanced, with a projected surplus of $1.4 billion this year, increasing to $4.8 billion in 2019-20.
–The sale of the government’s General Motors shares, purchased in 2009 as part of an effort to help the auto industry weather the storm in the wake of the 2008 recession, generated a net gain of $2.1 billion.
–The federal contingency fund drops to $1 billion in 2015-16, returning to $3 billion by 2019.
–The small business tax rate drops from 11 per cent to 9 per cent by …read more
Source: Ottawa Citizen
