New federal budget unveiled Thursday

Finance Minister Jim Flaherty revealed the new federal budget on Thursday.

There are no tax cuts and little new spending in this year’s budget, the CBC reported.

That’s because the government is fighting to eliminate an 18.7 billion dollar deficit by 2015.

Some of the highlights from the 2013 budget include of a new program called Canada Job Grants.

The program will dole out 300 million dollars in grants for skills and training for workers.

Another $70 million over three years was promised to go towards paid internships for new graduates.

The budget also got rid of import tariffs on certain consumer products like sports equipment and baby clothes which were considered overpriced when compared to U.S. prices.

Flickr Photo by: Ontario Chamber of Commerce

STORY WRITTEN BY: ALYSSA TREMBLAY