moved:
That this House approves in general the budgetary policy of the government.
Mr. Speaker, I wish to table the budget documents for 2006, including notices of ways and means motions. The details of the measures are contained in these documents. I am asking that an order of the day be designated for consideration of these motions.
I also wish to announce that at the earliest opportunity the government will introduce bills to implement the measures in this budget.
The budget is balanced, our spending is focused, and taxes will go down for all Canadians.
Budgets say something about your motivations and your goals. They say something about your priorities.
The government is focused and nowhere is it more focused than in the area of tax relief. For years, Ottawa has been overtaxing Canadians. In this budget, we deliver real tax relief for Canadians
Tax relief people can see. Tax relief that makes a difference. Tax relief they can count on.
That is the bottom line of the budget.
On the GST, effective July 1, the goods and services tax is reduced from 7% to 6%.
On child care, effective July 1, families with children under the age of six will receive a benefit of $100 per month, per child. That is $1,200 per year, per child.
On employment income, effective July 1, this budget creates the brand new $1,000 Canada employment credit. This new tax credit gives each and every employed Canadian a break on what it costs to work, in recognition of expenses for things like home computers, uniforms and supplies.
On personal income tax, effective July 1, the lowest personal income tax rate will be reduced from 16% to 15.5%.