Canada cuts consumer taxes
Wednesday, 2 January 2008
OTTAWA, Jan 1 (AFP): Canadian Prime Minister Stephen Harper yesterday announced a cut in the country's goods and services tax (GST) to come into effect from midnight, fulfilling his election pledge to slash taxes.
"Reducing the GST is part of our broader plan to ensure Canada's long-term economic growth and prosperity. Under our government, taxes are headed only one direction: down," he told a New Year's Eve press conference.
The tax will fall from 6.0 per cent to 5.0 per cent Tuesday at the start of 2008, and will represent six billion dollars in tax relief for Canadian consumers.
Harper made the announcement in the Mississauga electronics store in Ontario where he had promised to cut the GST during his election campaign which won him victory in the 2006 polls.
"Reducing the GST is part of our broader plan to ensure Canada's long-term economic growth and prosperity. Under our government, taxes are headed only one direction: down," he told a New Year's Eve press conference.
The tax will fall from 6.0 per cent to 5.0 per cent Tuesday at the start of 2008, and will represent six billion dollars in tax relief for Canadian consumers.
Harper made the announcement in the Mississauga electronics store in Ontario where he had promised to cut the GST during his election campaign which won him victory in the 2006 polls.