Did you know the deficit has been reduced by almost two-thirds since the height of the global economic and financial crisis? It’s gone down from $55.6 billion in 2009–10 to $18.9 billion in 2012–13.
The Government is on track to return to balanced budgets. Including measures in the 2014 Economic Action Plan, the deficit is projected to fall to $2.9 billion by 2014–15. Key components that will help reach this goal include:
- Controlling program spending;
- Improving the integrity of the tax system; and
- Creating winning conditions for businesses to grow and compete.
Canada’s responsible fiscal position is key to economic growth and job creation for the long term. Click here to learn more.