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Thursday, March 29, 2012

Federal Budget 2012


March 29, 2012

Budget day in Canada means citizens will be tightening their belts, screaming about the cuts and at the end of it all the Tories have a majority. A majority that translates to an inability for the 'Official Opposition' to contest any of the cuts or quash the government as in previous years, prior to the Harper majority win.

So what are the biggies in the budget:

  1. The Canadian Mint is stopping the production of the blessed 'penny'. Prices will be rounded up to the nearest nickle. (great nice little cash grab softly served)
  2. Spending cuts of $5.6 billion
  3. $1.1 cut to Defense (wow stupid move there guys)
  4. Spending for investment and spur job growth (Research and development gaining the most)
  5. Resource projects will have a more streamlined process 
  6. E.I. program changes
  7. $5.2 billion to build up the battered Coast Guard (over eleven years)
  8. Cross border shopping limits are increased to double the current levels ($800 for 48 hrs duty free)
  9. 19200 Civil Servants are facing the ax (some to attrition so they say)
  10. Old aged pension is jumping to 67 years old instead of the current 65. 2013 will see the start of an 'automatic' enrollment for seniors into the pension program. 
  11. No new prisons are going to be built (cannot see this as being a good thing as current prisons are stressed to the max now)
  12. $50 million over 2 years for the youth employment system 
  13. Public safety is facing a cut of $680 million (excellent news for criminals)
The changes to the immigrant work force (adjusting the restrictions to enable more immigrants the opportunity to take Canadian jobs) can be treated as positive for the millions of immigrants struggling to utilize their education and skills in the Canadian work field.

Nothing in this budget is pleasant to the regular citizen to hear. It is about big business and the continual crush of the middle class.

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