PwC Federal Budget instant reaction: Measures to help Canada compete will aid
the economic recovery

TORONTO, March 4 /CNW/ - PwC tax specialists commented today:

The Federal Budget announced today delivered new measures that are geared to improving Canada's financial position and competitiveness globally. Notable actions include:

    
      -  The lowest overall income tax rate on new business investment in the
         G7 (25% by 2012)
      -  Making Canada a tariff free zone for industrial manufacturers by
         eliminating all remaining tariffs on machinery and equipment and
         goods imported for further manufacturing - a savings of $300 million
         in annual duty for Canadian business.
      -  Improvements to Canada's system of international taxation to
         facilitate investment, cut red tape, and streamline the compliance
         process associated with the taxation of cross-border activity.
      -  Establishing a new Red Tape Reduction Commission.
      -  Enhancing the quality of the financial services sector.
    

These measures are designed to encourage local and new foreign investments in Canada.

A PwC Budget Flash with additional Budget highlights has been issued later today followed by a detailed Budget Memo later this evening. For more information and detailed commentary on the Budget please contact, Kiran Chauhan, kiran.chauhan@ca.pwc.com, 416-947-8983 or visit www.pwc.com/ca/budget.

About PricewaterhouseCoopers LLP

PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 163,000 people in 151 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice. In Canada, PricewaterhouseCoopers LLP (www.pwc.com/ca) and its related entities have more than 5,300 partners and staff in offices across the country.

"PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP, an Ontario limited liability partnership, or, as the context requires, the PricewaterhouseCoopers global network or other member firms of the network, each of which is a separate legal entity.

SOURCE PwC

For further information: For further information: Kiran Chauhan, (416) 947-8983, kiran.chauhan@ca.pwc.com

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PwC

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FEDERAL BUDGET 2010

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