- Published: 27 January 2009
OTTAWA -- The Conservative government will inject $40-billion in new spending and tax cuts into the economy over the coming two fiscal years to cushion individuals and business against the deepening recession and set the stage for a modest recovery in 2010, according to the budget presented Tuesday.
"Since last fall, the global economic situation has deteriorated further, and faster, than anyone predicted," Finance Minister Jim Flaherty noted at the start of his budget speech, adding that in his pre-budget consultations there was a "remarkable degree of consensus" on what needs to be done.
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