Budget is balanced and prudent

FOR IMMEDIATE RELEASE 26 FEBRUARY 2008

OTTAWA – Battlefords-Lloydminster MP and Agriculture Minister, Hon. Gerry Ritz welcomed today’s balanced budget that invests in farmers, builds on the broad-based tax relief announced last fall and strengthens Canada amidst global economic uncertainty.

“Our government continues to put in place timely, improved farm income stabilization programs that provide support for farm families in Battlefords-Lloydminister and across the country,” says Minister Ritz.

The new budget measures, including allocating $72 million over two years to farm programs and improving access to $3.3 billion in potential cash advances, provides producers with comprehensive coverage against farm income declines.

Budget 2008 also provides Canadians with a new incentive to save for their priorities.

“Residents of Battlefords-Lloydminster can watch their money grow in a Tax-Free Savings account which will allow – beginning in 2009 - contributions of up to $5,000 a year, tax free,” says Ritz.

Any investment income, including capital gains earned on this flexible account will not be taxed and withdrawals will also be tax free.

Budget 2008 highlights include support for seniors with an increase in the Guaranteed Income Supplement exemption to $3,500 from $500; a new consolidated Canada student grant program, investment in infrastructure and in partnerships with aboriginal Canadians.

“We have listened and produced a plan that focuses on delivering on the priorities that matter to the people of Saskatchewan– for students, for workers, for families and for seniors. It’s a budget for all Canadians that invests in people, in communities and in our future,” says Ritz.

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For more information call Todd MacKay 613-759-1059