Budget 2014: Highlights
Finance Minister Jim Flaherty has tabled his 2014 federal budget in the House of Commons. Here is a look at some of the budget's main points and full text of the budget document.
Finance Minister Jim Flaherty has tabled his 2014 federal budget in the House of Commons.
- Word clouds: Compare Flaherty's budget speeches
- Interactive: Budget 2014 at a glance
- Flaherty comes close to surplus while keeping promises vague
Here is a look at some of the budget's main points:
- No major tax cuts, spending falls for 3rd year in a row.
- $2.9 billion deficit this year, $6.4 billion surplus next year (2015-16).
- New Canada Job Grant starts April 1, with or without agreement of the provinces and territories.
- Retired public sector workers will pay twice as much for voluntary medical benefits.
- $500 million over 2 years to an Automotive Innovation Fund for research and development.
- $1.5 billion over 10 years for a Canada First Research Excellence Fund to fund research at post-secondary institutions.
- $391.5 million over 5 years for highways, bridges, dams in National Parks.
- Interest-free loans for apprentices and funding for new internships where skilled workers are needed.
- Money for bridges in Windsor and Montreal but details for Building Canada infrastructure fund still to come.
- $10 million more over 2 years for snowmobile and recreational trails.
- Legislation to cap wholesale domestic wireless roaming costs.
- $305 million over 5 years to expand rural high-speed internet.
- Legislation promised to tackle cross-border price gaps — but no details.
- Tax on cigarettes rises $4 to $21 a carton — a jump of about 50 cents per pack.
- Government will bring regulation to Bitcoin, the virtual currency, to ensure it isn't used for money laundering.
- Online casinos, charities and amateur sport groups will be scrutinized to prevent links to organized crime and foreign terrorists.
- Legislation promised to stop suspended senators from accruing pension time.
- Creation of a DNA-based missing persons index.
Mobile users, read the budget document here