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Fredricks and Foley: Business couple applauds

Paul Fredricks and Victoria Foley // Business couple applauds budget's broad tax cuts and credits

From Wednesday's Globe and Mail

Annual household income: $250,000+

Monthly household costs: About $11,000

What you drive: Audi A5 and Porsche Boxster

Last holiday: Skiing in the B.C. Interior

What's the best aspect of this budget?

"On the broad strokes, it looks like there are a lot of ingredients. I guess the alchemy is in the outcome. Then we'll see how they all mix," Ms. Foley said. "It seems like a fairly balanced scorecard."

She cited the tax exemptions, bank controls and tax credits for home renovations as positive elements, while Mr. Fredricks was pleased to see some infrastructure spending.

"Really, they need to get the money out quickly," he said.

Do you think anything is missing?

"I think sorely lacking in the whole budget is the incentive to spend on green initiatives, carbon-footprint reduction, and alternative energy. This is a perfect opportunity ... and there wasn't enough there. I was really hoping there would be more," he said.

Overall, are you happy or disappointed? Why?

Both expressed measured relief about the budget, if only because they expect it's good enough that the Liberals will support it.

"I really think the last thing we need is to take down the present government. It almost doesn't matter who it is," she said.

What's the likely impact on you?

The couple is renovating an investment property, and hopes some of the project will qualify for the home renovation tax credit. The tax relief in lower-income brackets will help them and the employees of companies Ms. Foley and Mr. Fredricks lead.

"It's great for, I think everybody, to have a little bit extra and feel the pressure is off. Now maybe they'll go out and see a movie and go to dinner," he said.

Where do you expect this budget to take Canada?

Mr. Fredricks suspects the stimulus package isn't big enough, but doesn't worry about the deficits, which he thinks should be manageable. Ms. Foley agreed, suggesting that the budget is far-reaching enough to benefit a wide range of people.

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