GST Cut

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PRIME MINISTER STEPHEN HARPER MARKS GST REDUCTION

June 30, 2006
Ottawa, Ontario

Prime Minister Stephen Harper marked the lowering of the Goods and Services Tax today at a department store in Ottawa, Ontario, reminding all Canadians that they will pay less for everything they buy as of Canada Day.

"Canada's New Government is committed to lower taxes, and we are pleased that lowering the GST to six per cent is just one of the many tax cuts contained in Budget 2006," the Prime Minister said. "This single tax reduction will mean nine billion more dollars will be kept in the pockets and bank accounts of Canadians over the next two years."

Joined by the Honourable Jim Flaherty, Minister of Finance, the Prime Minister unveiled a new sign that will appear in retails stores across Canada telling consumers the GST rate has been reduced to six per cent.

Today's announcement is but the initial step. The Government is committed to further cutting the GST to five per cent, which will result in more savings for all Canadians.

Under Canada's New Government, Canadians are saving more money. In Budget 2006, 29 separate tax cuts were introduced, representing more tax relief than in the four previous federal budgets.