O.K., for a few minutes let’s suspend our cynicism about government.

Today because of this week’s federal Economic Statement your tax rate is lower and beginning in January, you will save another 1% GST on your purchases. That means more money in your pocket.

Here is more good news: the economy is growing – to $1.45 trillion dollars; more people are working – unemployment is at a 33-year low; and we’re paying down debt - $22.4 billion over two years.

And what does this week’s Economic Statement mean to you in dollar terms?

If you are earning between $15,000 and $30,000 you will pay on average almost $180 less in tax in 2008 as a direct result of the tax measures announced in yesterday’s Fall Economic Statement.

Those earning between $45,000 and $60,000 will pay on average almost $400 less in tax in 2008.

Those earning between $80,000 and $100,000 will pay on average $602 less in tax in 2008.

For local businesses, the backbone of our economy, the Government will be reducing the small business income tax rate to 11 per cent in 2008, one year earlier than scheduled.

It will also reduce the general corporate income tax rate to 15 per cent by 2012, starting with a 1-percentage-point reduction in the rate in 2008 beyond the already scheduled reductions.

This economic update provides a steady, predictable decline in business taxation that businesses can count on and can plan for. This will help to stimulate further economic growth and create even more jobs locally and across the nation and ultimately make Canada the most competitive business jurisdiction of the G7 developed countries.

And what about our national debt? The Government also announced it is planning additional debt reduction of $10 billion this fiscal year, for a total of more than $37 billion in debt relief since coming to office. This is the equivalent of $1,570 for each man, woman and child in Canada.

That means the federal government’s debt-to-GDP ratio—its debt load as a share of the economy—is expected to fall below 25 per cent by 2011–12, three full years ahead of the original target and its lowest level since the late 1970s.

Is this Fall Economic Statement the answer to all of our problems? No, of course not. There are still challenges to address including poverty, homelessness and affordable housing. Our forest and manufacturing sectors are being affected by a weak US economy and a high Canadian dollar. These are pressing issues that will not be ignored by me, your Member of Parliament, or members of the Government caucus.

This week the federal BC Caucus met with Premier Gordon Campbell. We agreed to continue to work together with our local governments, industry and the community to try and find solutions.

Still, we can see yesterday’s economic statement for the good news it is; tax breaks for the average Canadian in a stable economy, and a government not afraid to use its surplus to give back to you, some of your hard-earned money.

Even the most cynical can admit that is something.

I am Ron Cannan, the MP for Kelowna-Lake Country and can be reached at ron@cannan.ca or at my Capri Mall Constituency Office @ 470-5075. Next week I will in the riding meeting with constituents and touring local businesses. If you have any concerns or would like to meet please feel free to contact me at your convenience.

Also, I extend an invitation to honor our veterans by attending a Remembrance Day ceremony at a cenotaph in Lake Country, Lions Park in Rutland or Kelowna City Park.

It doesn’t take much time but it means so much. Lest we forget!