Harper pledges to double tax-free savings limits – but not till deficit is beat
Stephen Harper is promising to double the contribution room in Tax-Free Savings Accounts during his second straight day of campaigning in the Greater Toronto Area, a crucial battleground he hopes will help land him a majority government.
If re-elected, he said, a Conservative government would expand annual contribution limits for the savings vehicles to $10,000 from $5,000.
The catch is the Tories would only enact this measure after Ottawa conquers the deficit. The annual budget shortfall is projected to be $29.6-billion this fiscal year and it could be three or four years before the books are balanced.
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