Strong leadership : Economic action plan 2015

A typical two-earner family of four will receive tax relief and increased benefits of up to $6,600 in 2015, as a result of the Family Tax Cut, the Universal Child Care Benefit, the Goods and Services Tax (GST) rate reduction, the introduction of new credits, such as the Children’s Fitness Tax Credit, and broad-based income tax relief including the reduction in the lowest personal income tax rate ( [...] As shown below, this tax relief and these enhanced benefits include: • $3,293 in income tax relief, of which $1,865 is due to measures announced in the 2014 Family Package; • $2,329 in enhanced benefits, including $1,224 as a result of the enhanced Universal Child Care Benefit announced in the 2014 Family Package; and • $1,018 from the Government’s reduction of the GST rate from 7 per cent to 5 pe [...] In the 2013 Speech from the Throne, the Government committed to reduce the debt- to-GDP ratio to pre-recession levels by 2017. [...] The Government must stay the course to protect the economic interests of Canadians and the security of Canada. [...] E C O N O M I C. A C T I O N. P L A N. 2 0 1 5. 13 Chapter 1 Supporting the Manufacturing Sector and Investing in Advanced Research (Chapter 3.1) Since 2006, the Government has taken action to reduce taxes to promote investment in Canada, and leverage the collective efforts of post-secondary institutions, industry, and government to build a robust research sector.