Press Release
Federal government certainly has their work cut out for them says Halifax Chamber
March 4, 2010 - Halifax, NS – “Though spending restraints could have been more aggressive, we are happy to see that the budget outlines a clear plan to significantly decrease the deficit,” says Chamber President Valerie Payn. “But the Federal government has their work cut out for them over the next few years.”
The 2010 Federal budget’s three point plan for a return to balanced budget outlines restrained spending through targeted reductions in national defense, international aid, and government administrative functions. “We may not agree with all their plans to cut, and it will be a challenge for the government to get these things done, both operationally and politically, but they need to stick to these difficult decisions,” says Payn. “Our members have told us to support the government in their efforts to rationalize government operations as the alternative to tax increases to reduce the deficit.”
“We are happy to see $600 million towards fostering growth and innovation and we hope that this money stimulates the economic growth that will be needed to not just help eliminate the deficit but to combat the ever increasing national debt, which is estimated to grow to $622 billion by 2015,”says Payn. ”$622 billion is only one or two bad years away from a trillion dollar debt – something we can’t afford to face.”
“On the micro level we are happy to see that the promised reduction to the corporate tax rate has been maintained,” adds Payn. “But the devil is in the details and we will be reviewing the budget in more depth throughout the rest of the week.”
The Chamber is looking at the Federal budget through the lens of the Chamber’s five priority areas: economic development, competitiveness, people, health, and sustainability.
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For more information contact:
Janet Creamer
Communications Manager
Halifax Chamber of Commerce
(902) 481-1240
cell: 499-6494
janet@halifaxchamber.com



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