Joe Oliver Says Government Planning Tax Cuts in Next Budget

This article was last updated on April 16, 2022

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The Conservative government has once again reiterated their intention to potentially decrease personal income-taxes after it manages to balance the books in the next federal budget and prepares for a general election. According to a statement issued on Tuesday by Finance Minister, Joe Oliver, the Conservative government is aiming to curtail personal income-taxes for the 2015 budget, however he failed to elaborate on the government’s plan or details about the tax cuts.

Mr. Oliver made the announcement during a press conference at Wakefield on Tuesday, where he was present for government’s annual summer policy retreat along with 16 economists, business leaders and academics. The two-day retreat has several topics on its agenda including jobs, economy, taxes, and reducing government debt. Oliver stressed that the government still feels on track to eliminate the deficit in 2015, highlighting that the Conservatives have planned to later introduce personal income tax cuts in the next federal budget.

In his remarks, Mr. Oliver alleged that “that’s what I’m talking about. I’m talking about reducing taxes for Canadian families and individuals.” He mentioned that “we’re not in a position where we have to take draconian steps. We’re not looking to an austerity budget, but we’re absolutely determined to proceed in a fiscally responsible way.” Furthermore, Mr. Oliver elucidated that “we’re going to have a budgetary surplus. We will be focusing on reducing taxes to individuals and we’ll be able to continue to see the transfer programs to the provinces and individuals grow.”