‘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.

  • DMB

    This is good and bad at the same time. The good part is that we no longer have a federal deficit but the bad part was how it was accomplished. Recently both the federal and provincial government of Ontario sold all its shares of GM at a loss. Worse yet even with the proceeds of the sale Ontario still won’t even come close to a balanced budget.

    RoR on $GM #bailout: Investment: Federal = $5.8B Ontario = $4.8B Proceeds: Federal = $3.5B Ontario = $1.1B Net loss = $6B #onpoli #cdnpoli— Canadian Investor (@isave2invest) April 7, 2015