Archived - Minister of Finance Confirms Return to Balanced Budgets in 2015

February 11, 2014 – Ottawa, Ontario – Department of Finance

Minister of Finance Jim Flaherty today tabled Economic Action Plan 2014, which confirms that the Government is on track to return to balanced budgets in 2015, with new measures that will create jobs and opportunities in an uncertain global economy.

The Government is on track to balance the budget while keeping taxes low and protecting the programs and services Canadians count on.

With no new taxes on Canadian families or businesses, Economic Action Plan 2014 projects that the deficit will decline to $2.9 billion in 2014–15, after taking into account a $3 billion annual adjustment for risk. A surplus of $6.4 billion is expected in 2015–16, again after taking into account a $3 billion annual adjustment for risk.

Since the inception of Canada’s Economic Action Plan in 2009, Canada has achieved the best job creation record and one of the best economic performances in the Group of Seven (G-7) over the recovery.

Economic Action Plan 2014 builds on this record of achievement with positive measures to grow the economy and help create jobs.

Along with Economic Action Plan 2014, the Government issued its Jobs Report: The State of the Canadian Labour Market, which examines recent developments in the job market, the education and skills level of Canada’s workforce, and skills shortages. It also outlines actions the Government has taken to support Canadians in upgrading their skills and to create high-quality jobs.

Marie Prentice
Press Secretary
Office of the Minister of Finance

Jack Aubry
Media Relations
Department of Finance

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