Say goodbye to the Canada Savings Bond.
The Trudeau government revealed the 2017 federal budget Wednesday, axing the Canada Savings Bond (CBS), along with the public transit tax credit, while adding pennies to the cost of tobacco and alcohol.
The CBS, once valued at $50 billion and now $5 billion, accounts for less than one per cent of the total federal market debt.
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Am640’s Stafford Show asks callers if they bought into the CBS.
Today, these bonds might be more of a thing that grandparents gift on birthdays than an actual savings plan. Many of Mike Stafford’s listeners agreed.
All outstanding bonds will continue to be honoured.
Did you buy into the Canada Savings Bond? What did you put your savings towards?
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