Summary
The Canadian federal budget ’for fiscal year 1994-1995 was presented by Minister of Finance Paul Martin in the House of Commons of Canada on 22 February 1994. It was the first federal budget under the premiership of Jean Chrétien.[2]
| Presented | 22 February 1994 |
|---|---|
| Parliament | 35th |
| Party | Liberal |
| Finance minister | Paul Martin |
| Total revenue | 130.791 billion [1] |
| Total expenditures | 167.423 billion [1] |
| Deficit | $36.632 billion[1] |
‹ 1993 1995 › | |
Background edit
The budget is tabled only a few months after the 1993 Canadian federal election in which the Liberal Party led by Jean Chrétien received a large majority of the seats in the House of Commons. Paul Martin, Chrétien's main rival in the 1990 Liberal Party leadership election was appointed Minister of Finance.
Taxes edit
Expenditures edit
Transfers to provinces edit
The budget announced the freezing of Canada Assistance Plan (CAP) payments to their 1994-95 levels after March 31, 1995. Unlike the 1990 restrictions, all provinces (including those receiving equalization payments) are affected by the cap.
The Reform Party (then the third party by number of seats in the House) supported reductions to the CAP while criticizing that the cutbacks are not matched by amendments to health national standards to give more freedom to provinces in adjusting the services they provide.[3]
Legislative history edit
The main provisions of the budget were included in the Budget Implementation Act, 1994 which was adopted in third reading by the House of Commons on 31 May 1994 and received royal assent on 15 June 1994.[4][5] Votes followed party lines with the notable exception of independent Québec MP Gilles Bernier (Beauce) voting in favor.
| Party | Yea | Nay | Abstention | Absent | |
|---|---|---|---|---|---|
| Liberals | 136 | 0 | 8 | 33 | |
| Bloc Québécois | 0 | 43 | 8 | 3 | |
| Reform | 0 | 40 | 0 | 12 | |
| New Democratic | 0 | 8 | 0 | 1 | |
| Progressive Conservative | 0 | 0 | 0 | 2 | |
| Independents | 1 | 0 | 0 | 0 | |
| Total | 137 | 91 | 16 | 49 | |
External links edit
- Budget Speech
- Budget Plan
- Budget in Brief
References edit
- ^ a b c "Canada's deficits and surpluses, 1963-2014". CBC News. CBC/Radio-Canada. Retrieved 25 April 2015.
- ^ "La Presse". numerique.banq.qc.ca. 23 February 1994. Archived from the original on 2020-06-23. Retrieved 2020-06-17.
- ^ House of Commons Debates, 35th Parliament, 1st Session, vol. 2, p. 4632.
- ^ Budget Implementation Act, 1994 S.C. 1994, ch. 18.
- ^ Debates of the House of Commons – May 31, 1994
- ^ House of Commons Debates, 35th Parliament, 1st Session, vol. 2, p. 4679.