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Liberals commit to helping Canadians manage household debt

Published on June 3, 2010; Published on June 30, 2010
Staff ~ The Telegram

Topics :: Newfoundland , Canada

Newfoundland MP?Judy Foote says help for heavily indebted Canadian families should take precedence over corporate tax breaks.
In a news release, Foote said the tough economy has left Canadians with an average debt of $41,740 each.
"That means Canadian families are the most indebted people living in advanced countries. The burden of that debt is going to be a challenge for many years ahead," Foote said. "While the Conservative government has failed to address this important issue, Liberal leader Michael Ignatieff has a plan to help families face financial pressures.
"We expect that interest rates will rise, which means Canadians are going to be struggling with the heavy debt load and will have to make significant spending cuts. It will also be difficult for families to contribute to their savings as well or provide for plan for expenses such as education."
Foote said Canada cannot afford the Conservative commitment to cut corporate taxes by $6 billion a year at this time.

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