As part of the stimulus package, Flaherty introduced a home renovation tax credit to encourage homeowners to do some of those upgrades that they “hadn’t gotten around to”.
Well, for those of you who haven’t gotten around to using the tax credit yet, get to your nearest Home Depot…quick! Flaherty announced that the tax credit will only be available until the end of January.
But economists are wondering…is it too soon? After all, not much has changed in the economy since last year except for the money pouring in from the government.
Sustained global economic growth hinges on the delicate timing of when life support of low interest rates and stimulus spending is removed. The Globe and Mail
So I guess we’ll have to wait it out. But, please Flaherty, don’t cut off too many popular economic lifelines like this. I think we still need them.