No tax cuts, little new spending in federal budget

Canadians will see little new spending out of the federal government this year as it attempts to stay on target to eliminate the deficit by 2015, with even a heavily promoted focus on skills development relying on money that was previously committed. But to keep to that deficit-slaying plan the Conservative government is relying in part on booking $6.8 billion by 2018 in tax revenue now lost to tax loopholes and cheating.

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