Federal Finance Minister Jim Flaherty suggested today that he no longer supports bringing in income splitting for couples with children, telling an Ottawa business community — a day after he brought down the federal budget — that it only helps some families.
The promise to introduce income splitting was a major part of the Conservatives' 2011 election campaign and was tied to bringing the budget back into balance, something the government claims it will have achieved a year from now.
Flaherty delivered his 10th federal budget Tuesday, one that put him within the margin of error of balancing the books a year ahead of schedule.
Updated figures in the budget show the Conservatives with a $2.9-billion deficit, just within the $3-billion contingency Flaherty has built in in case of major blows to Canada’s economy. The Finance Department upgraded its projected surplus for next year to $6.4 billion from $3.7 billion.
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