The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

2 - PORT PERRY STAR - Tuesday, May 11, 1999 MPP, accountant laud Tories' latest budget By Chris Hall Port Perry Star The days of stocking up at the gas sta- tion, liquor outlet and convenience store after a provincial budget is released are over, says Durham East MPP John O'Toole. "In the past every time a government would 'announce a budget people would go running to buy gas, beer, liquor and cigarettes because they knew the price was going to go up," Mr. O'Toole said last Wednesday (May 5) morning in Bowmanville, a day after the provincial government released its budget for 1999. "Traditionally budget day was always a bad news event because taxes would be going up, but not now. We were elected to reduce taxes and balance the budget and that's what we're doing," he said. "Reducing taxes has increased rev- enue; reducing taxes has given you the chance to re-invest your money; tax cuts create jobs. Some of the things this gov- ernment has done was difficult; there have been many tough, but necessary decisions and you can already see the benefits of some of them." One of the highlights of the 1999 bud- get is a promised 20 per cent reduction in personal taxes over the next five years, including 5 per cent effective this July. "It was a good news budget," said chartered accountant Peter Hobb, a partner with the firm Hobb Bakker Bergin Hill, which 'was asked by the Clarington Board of Trade to give an 'independent analysis of the budget. "That 20 per cent cut is on top of the 30 per cent already cut by the Tories in the past," he said. "Over the past 10 years, taxes have roughly been cut 10 per cent since 1995 by the provincial and federal government combined." In the budget, the government has pledged to: 0 increase the max- imum refund for land transfer taxes from $1,725 to $2,000; Q introduce a per- manent retail sales tax rebate on building 1 material for farmers as well as additional exemptions for such things as generators, 2a Fad antifreeze, oil and O'Toole grease, : Q rebate retail sales tax on building material for her- itage properties until May 5, 2000; 0 and allow a capital corporate tax exemption for certain businesses. | The government also promises to reduce red tape by introducing a new short tax form for small businesses, lift some late filing penalties for forwarding taxes, and allowing smaller companies to remit taxes quarterly Instead of monthly. The budget also allows for small busi- nesses to write off the purchase of a new computer if their current one is not Y2K compliant; a purchase must be made by June 30, 1999. The budget preceded the announce- ment of a June 3 election in Ontario. "The budget is right on track... we're going to have it balanced by 2000- 2001, " said Mr. O'Toole, adding that the Tories plan to introduce a law that prohibits governments from going into debt with- out holding a referendum. "We're not just reducing taxes and spending, we're building a strong infra- structure that will allow growth and pro- vide for a strong economy," said Mr. O'Toole. "It's forward thinking like this that will make Ontario prosperous." NI (0) 3180000) 8 Day Care Centres Inc. [_ SCUGOG FINANCIAL _ SERVICES INC. 399 Queen Street, Port Perry 985-0800) Openings now available Jor all ages Stoneioor \d 0, 4° Care gett? n 630amlo 6:00pm Quan 985-0800 Wh ® 80 Water St., Port Perry *Free Delivery in a Limited Area Registration accepted for all ages WASHING UP: Wet weather really didn't dampen the spirits of the mem- bers of the Blackstock Bladerunners' Synchronized Skating team, who par- ticipated in a fundraising car wash at Reid's Independent Grocers last Saturday (May 8). Money raised from the event will be put toward costs for coaches, practice ice, competitions and outfits. Lending a hand cleaning up were Darcee Grove, left, and Taryn Wagnar, both 10-year-old Blackstock residents. f etivitios. are being g with a breakfast, vigating the roads of an one navigator is d. ending with a silent auction and he present more suitabl about participating rally contact Pam at CNIB PORT PERRY DENTAL OFFICE ® e Annual Rates ® GIC RRSP 1 YEAR...............4.60%.......4.40% 2 YEAR...............4.75%.......4.75% 3 YEAR...............4.95%........4.95% 4 YEAR...............5.10%.......5.10% 5 YEAR...............5.30%.......5.30% 30 DAYS casueie....... 4.05% ss.000 mmmum INSURANCE ASSIGNMENT ACCEPTED Bl EVENING APPOINTMENTS AVAILABLE (WE COLLECT FROM INSURANCE COMPANIES) 1 DENTISTRY WHILE YOU SLEEP - IPAYMENT PLANS ARRANGED m : GENERAL ANAESTHESIA AVAILABLE © MSENIOR CITIZENS DISCOUNT Rates subject to change without notice NEW PATIENTS WELCOME "Serving Scugog For Over 15 Years" 250 Queen Street, Port Perry ¢ 985-3832 (next to Shoppers Drug Mart) BOA PIZZA & SUBS 985-8448 | Find us fast in the w Yellow Pages coulSO expires Sa June 30/99 3 985-8459 462 PAXTON ST. (ACROSS FROM PORT PERRY HOSPITAL) Se om Mim 56 pizza, 1/2 bb. Wi s, | Ib. Wedges & 3 te® 4 coupon oes June