Yesterday, we told you about the goodies in the federal budget, which included some wide ranging tax cuts. Well those savings may soon be eaten up. Winnipeg’s 10 plus years of a property tax freeze is now in question. Thanks to a big hit on the stock market to the city’s pension fund, an increase is now being looked at. Council will vote on the hike next month.
The stage is set for the federal budget to be passed next Monday. Yesterday, the Liberals agreed to support the government and the document, with some conditions attached. For instance they want quarterly reports and confidence votes on whether the budget is being implemented. So far, Prime Minister Stephen Harper says that’s fine with him.
A working visit is how Prime Minister Harper describes Barack Obama’s first trip to our country as president. Harper says the economy will be at the top of the agenda when the two sit down on Thursday, February 19th.
It’s one of the biggest indications yet of this global recession. Sony says its net profit in the final quarter of last year plunged some 95 per cent over the same time in 2007. The struggling Japanese electronics giant blames it on poor sales for its t.v.’s, digital camera’s, and mobile phones.