Just to totally over-simplify the whole thing… [source]
He plans to spend billions on infrastructure projects over the next three years – spending $5 billion next year alone. Basically, the plan is to get out-of-work oil patch workers building bridges, buildings and roads.
Sort of like doing a whole bunch of home renovations when the economy is bad because your brother in-law is an out of work carpenter and you have a pretty good line of credit.
Those making between $45,000 and $89,000 will see their federal rate drop two percentage points to 20 per cent. If you make over 200k your rate goes up!
The limit on Tax-Free Savings Accounts will remain at $5,500 (Harper was going to increase limits to $10k).
Families with young kids with combined income of below $150,000 will qualify for the new child benefit program. Those with combined incomes over $150k may lose the benefit or have it clawed back.
His “Canada Child Benefit” will be means-tested and will replace the newly boosted Universal Child Care Benefit.