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Canada's Goodale Rules Out Broad-Based Tax Cuts

by Mike Godfrey, Tax-News.com, Washington

10 February 2004

Canadian Finance Minister Ralph Goodale sought to dampen expectations of a general cut in taxation in comments made at the weekend, despite the likelihood that the government will deliver a seventh consecutive fiscal surplus this year.

However, Mr Goodale left the door open to more “targeted” tax cuts, highlighting the recent announcement of a C$7 billion GST rebate for provincial cities as an example.

"All things considered, in the short run, my room to consider any form of a broad-based tax cut will be pretty limited," Goodale told reporters at the G7 meeting in Florida.

The minister added that he "will be interested in examining the possibility of a more targeted tax reduction, particularly those that can also serve another important purpose either on the social side or the economic side."

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