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2012 budget News

Zimbabwe cuts spending to 2012 budget, proposes major changes

Harare - Due to a paucity of diamond inflows and revenues, Zimbabwe Finance Minister Tendai Biti announced that the 2012 federal budget will consist of spending cuts by 10 percent as well as a jump in tax rates.

Protester: Who's running Toronto, Mitt Romney or Ron Paul? Special

Toronto - Prior to the chaos that engulfed city hall Tuesday night, there was a massive rally opposing Toronto Mayor Rob Ford's budget cuts that would impact various social and community initiatives. Unions, activists and community workers vowed to fight back.

Budget rally in Toronto turns ugly; activists clash with police Special

Toronto - Hundreds of protesters gathered outside of Toronto City Hall for a peaceful protest against Mayor Rob Ford's proposed budget cuts. Following the rally, hundreds clashed with police officers at the entrance of city hall.

City of Toronto 2012 Draft Budget released, debated on in January

Toronto - The City of Toronto released its draft budget for 2012. Mayor Rob Ford said the City will spend less next year than it did this year. The budget includes a 2.5 percent property tax increase, staff reductions and 10-cent transit fare hike.

Obama budget cut proposal: Deny heating funding for poor

Washington - President Barack Obama’s 2012 budget is proposing a cut of $2.5 billion from a program providing financial relief for low-income and elderly citizens faced with high energy costs associated with cold winter temperatures as well as the heat of summer.

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