A bit of a two-in-one package was presented yesterday in Ottawa, as the Federal government filed its fall economic update.

     In addition to presenting the current status of the economy, the government introduced plans to cut income taxes, and take another percentage off the GST.

     If passed, the GST would drop to 5% effective January 1, 2008.  Meanwhile, income tax rates would go down from 15.5% to 15%, retroactive to January 1st of this year.

     The motion still needs to pass through Parliament, with the vote expected for later today.