Federal Finance Minister Jim Flaherty has delivered a deficit-cutting budget in the House of Commons. Here is a look at some of its key details and measures:

  • Savings of $5.2 billion a year by 2015.
  • 19,200 federal public sector jobs cut over three years.
  • Return to surplus by 2015 (an election year). 2012-13 deficit at $21.1 billion.
  • Penny to be discontinued this fall (it still holds value for spending).
  • Age of eligibility for Old Age Security rises gradually to 67 from 65 starting in 2023 — but does not affect anyone 54 or older as of March 31, 2012.
  • One review for major resource development projects, capped at 24 months, including current projects like the Northern Gateway pipeline.
  • Governor General to pay income taxes as of 2013 — but he'll get a raise.