Finance Minister Jim Flaherty has announced the Harper Government plans to pay of nearly half a trillion dollars in debt in 15 years.

 

The federal Conservative Government is planning on putting more dollars back in our pockets.

Finance Minister Jim Flaherty announcing that he plans to pay off the national net debt of nearly half a trillion dollars, in 15 years. On top of that he's announced tax cuts and income splitting for couples and seniors.

Palliser MP Dave Batters explains. "We also have announced our Tax Back Guarantee. This Tax Back Guarantee will ensure that Canadian families, students, workers and seniors all benefit from debt repayment with lower interest payments and lower income taxes. Minster Flaherty's recent announcements equal tax savings for all Canadians and also allows for pension income splitting. What that means for seniors in Moose Jaw is that for a couple with one spouse collecting a 40 thousand dollar a year pension, the tax savings after income splitting would be about 2500 dollars every year."

The federal budget surplus this year is estimated at over 4 billion dollars.