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On Tuesday, March 22, 2016, the Honourable Bill Morneau, Minister of Finance, delivered the new Government of Canada’s first Federal Budget, Growing the Middle Class.
According to Minister Morneau, “our plan will recapture the hope and optimism for the future that existed in previous generations, and put it to work for the next. Real change is not just about today or tomorrow. It is about revitalizing the economy in the years and decades to come, so that it works for the middle class and helps those working hard to join it.”
Projecting a deficit of $29.4 billion in 2016-17 with a gradual decline to a deficit of $14.3 billion in 2020-21, Minister Morneau also announced the repeal of the balanced budget legislation enacted under the previous government.
Loren Kroeker CPA, CA, Senior Vice President, Taxation Services - 250.753.8251 -
Related Topics:Budget Announcements
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