Published on 01/4/2010

Don't expect tax cuts in 2010’s budget, Flaherty tells Canadians

Finance Minister Jim Flaherty says Canadians shouldn't expect any more tax savings or significant new government programs in 2010.

That's because with the government in a $56-billion deficit hole, the minister says he can't afford to much more than table a stay the course budget this year.

But Flaherty has good news for Canadians. He believes the economy and labour market have stabilized and will show some growth in 2010.

That means the government is confident it can wind down its $46.6 billion stimulus program as planned in the spring of 2011.