You're absolutely right. Significant reductions have been put in place. The small business tax rate has been lowered to 11%, and at the same time the amount of income eligible for that preferred lower rate has been increased to $500,000. In the budget, you'll note that it refers to a figure of $10.4 billion in tax relief over the fiscal framework and $2 billion annually as a result of those measures.
On May 9th, 2013. See this statement in context.