BUDGET 2000: BETER FINANCES, BETTER LIVES

MILLIKEN WELCOMES BUDGET THAT REFLECTS PRIORITIES OF KINGSTON AND THE ISLANDS

(February 28, 2000, OTTAWA) – Mr. Peter Milliken, Member of Parliament for Kingston and the Islands said that today's budget is an investment in the priorities of Canadians. The Honourable Paul Martin, Minister of Finance, tabled the 2000 budge today at 4PM in the House of Commons.

"Since taking office, the government has had a plan to eliminate the deficit, strengthen economic growth and create new jobs. That plan is working" said Mr. Martin. "Today, with a strong economy and surpluses projected for the future, we must create even greater prosperity and ensure that the benefits of that prosperity are shared widely with better jobs, higher incomes and more secure opportunities for all. Budget 2000 does that".

The 2000 budget sets out the government's plan for Canada for the 21st Century with a focused, targeted balance of smart investments and substantial tax relief while maintaining a commitment to sound fiscal management and debt repayment. Specifically, the 2000 budget provides:

• Targeted spending on research on development amounting to over $1.8 billion
• An additional $2.5 billion for health care and education to the provinces through the Canadian Health and Social Transfer (CHST) as well as an increase in the scholarship tax exemption from $500 to $3,000
• A five-year tax relief plan that indexes the tax system, reduces the middle tax rate and, overall, cuts taxes by at least $58 billion by 2004
• Increased support for children through tax relief and increased benefits
• keeping our environment healthy and clean

"The budget reflects the priorities of Canadians by ensuring that the government continues to practice sound fiscal management while investing in areas that are of importance such as health care, education, and research and development" Mr. Milliken said. "I am pleased to see that it will benefit every resident of Kingston and the Islands"

Prior to today's budget, many Kingstonians expressed their desire to see commitments of federal funding in the areas of research and development, health care, and the well-being of Canadian children. Others wanted more funding for post-secondary education while still others wanted to see tax relief. Minister Martin responded favourably to all of these requests.

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For further information: Patrick Fry (613) 992-2013