‘Balanced budget’ legislation to be announced by Joe Oliver

Finance Minister Joe Oliver’s next federal budget will be designed to keep Ottawa’s books balanced indefinitely, with special restrictions written in to prevent future governments from running a deficit in all but the direst of circumstances.

Oliver shared details of his upcoming budget on Wednesday at the Economic Club of Canada in Toronto, ahead of tabling it in the House of Commons on April 21.

The budget will allow the majority Conservative government to fulfill several election promises ahead of an anticipated fall federal election, including pledges to balance the budget and double the contribution limit for tax-free savings accounts.