Archived - Harper Government to Propose Balanced Budget Legislation

April 8, 2015 – Toronto, Ontario – Department of Finance

Finance Minister Joe Oliver today confirmed the Government’s plan to introduce balanced budget legislation aimed at enshrining in law its successful and prudent approach to fiscal policy.

A sound fiscal position is crucial to ensuring ongoing economic growth and job creation over the longer term. Maintaining balanced budgets and low and declining debt levels ensures taxpayer dollars are used to support important social services, such as health care, rather than paying interest costs, instills confidence in consumers and investors and keeps taxes low.

The proposed legislation would define concrete actions to be taken in the event of a deficit and require specific timelines for a return to balanced budgets.

This proposed legislation confirms the Harper Government’s ongoing commitment to responsible fiscal management by ensuring ongoing balanced budgets in normal economic times, while preserving the Government’s ability to take action in the event of a recession.

Melissa Lantsman
Director of Communications
Office of the Minister of Finance
613-369-5696

Stéphanie Rubec
Media Relations
Department of Finance
613-369-4000

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