Finance

All pensions and leaving allowances for MPs and elected Senators are cancelled. Assets will be distributed to existing members. Any future retirement savings scheme proposed for MPs and Senators will be of a group RRSP type.
Equalization payments will be reduced by 5% a year over 5 years. During that period, an expert panel will be charged with replacing the plan with one based on per capita payments. Tramsferring tax points will also be considered as an alternative.
Federal income tax rates will be reduced by 2 percentage points per year for 5 years. Provinces will be encouraged to increase their income tax rates by the same 2 percentage points.
All regional development funding and all federal funding of business activity will cease.
CMHC will accept no new mortgage insurance amounts. Its existing book of business will be drawn down upon renewal of existing insured mortgages. It is expected that all CMHC’s activities will be closed by the end of 5 years.
Taxable donation status for charities will cease.
Federal funding transferred to provinces for health or education expenditure will cease.
All inter-provincial trade and commerce will be free from any provincial restrictions or conditions.
Professional credentials recognized by any provincial professional body will be valid everywhere else in Canada.
Municipalities will be allowed and encouraged to implement a local income tax.