|Canada's Finance Minister Jim Flaherty speaks during a news conference in Ottawa August 15, 2012. REUTERS/Chris Wattie
OTTAWA - Finance Minister Jim Flaherty is apparently ready to make hockey equipment cheaper in the federal budget he'll table this afternoon.
The Globe and Mail and National Post report that Flaherty will cut the tariff or import tax on hockey equipment, a move which the papers say could save $200 if you were to outfit a player from helmet to skates.
The papers did not cite any sources but the Conservative government, since taking office in 2006, has a history of leaking tidbits about the budget to select news organizations.
Flaherty will table the budget in the House of Commons at 4 p.m. Thursday.
Most hockey equipment used in Canada is manufactured abroad. But the government had imposed a tariff to try to protect a non-existent Canadian hockey equipment-making industry.
As a result, hockey pants made abroad, for example, were slapped with an 18 per cent tax when they came into the country. This tax was paid by the manufacturer and then passed on to the consumers.
Now the government is ready to forego the revenue it was making from taxing imported hockey pants, sticks, and gloves and hoping to make it up in extra sales taxes as it bets that cheaper hockey gear means Canadians will buy more hockey gear.