CANADA: Tax Cuts

Canada's new Conservative government, carried into office last summer in a razor's-edge upset victory, moved last week to make good on the brave campaign talk of a $500 million tax cut. In a modest beginning, the Tories proclaimed personal income-tax reductions (effective Jan. 1) amounting to $146 million a year, sprinkled mainly in the lower income brackets.

Finance Minister Donald Fleming rose in Parliament to outline what he called a bold program to bolster "confidence and prosperity." He cut 100,000 taxpayers from the rolls entirely, gave his most substantial reductions to the 70% of Canadians whose taxable incomes are $2,000...

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