On 30 October 2007, the Minister of Finance presented the government's 2007 fall economic statement, which contains proposals for GST, personal tax and corporate tax reductions, as follows:
| - | a reduction in the general corporate tax rate from 22.12% (including the 1.12% surtax) to 15% by 2012 as follows: 19.5% in 2008 (after elimination of the surtax effective 2008); 19% in 2009, 18% in 2010, 16.5% in 2011, … |