The MG5750 is a cracking good printer. (It's the updated version of the MG5350 which I use myself).
A full set of all 5 compatible inks costs just under 20 quid from Inkredible (or a bit less if you buy in bulk), which is about a third of the price of 'originals' (and they're just as good).
http://www.inkredible.co.uk/canon-pixma-mg5750-ink-cartridges
If you order from Inkredible you'll occasionally get emails about their special offers. They're well worth checking out, as they can get you your inks at even lower prices. (i.e. watch out for the special offers and then stock up for the future). You also earn a small amount of 'loyalty credit' with each order, which you can cash in at any time against a further order.
To get the best from any printer you need to use decent paper with it. I use HP Bright White Inkjet Paper for documents. (It's 90 gsm, so it's a bit more 'business-looking' than ordinary 80 gsm stock). I've occasionally seen it offered cheaply in The Works, otherwise it can usually be found in Sainsbury's.
For 'ordinary' photos (such as when I'm producing greetings cards) I use HP Everyday Photo Paper but for 'special' photos (such as ones which are going to be framed and hung on the wall) I use Kodak Ultra Premium.