This article was last updated on April 16, 2022
In his major speech since becoming Canada’s Finance Minister, Joe Oliver promised that the Harper government “will not engage in reckless new spending schemes” when the federal budget returns to balance. In fact, he alleged that Canadian families can expect “tax relief” when the government not only balances the books but also posts a surplus in 2015.
Addressing the audience at a lunch-hour speech at The Canadian Club of Toronto, Oliver revealed that his top priority as finance minister will be to “create jobs and economic growth right across the country.” He stated that “at the end of the day, economics is about people, standards of living and our quality of life.” Canada’s long-time Finance Minister and Oliver’s predecessor, Jim Flaherty, had recurrently promised to return to balance next year when he unveiled his spring budget in February.
In his remarks, Mr. Oliver stated that “our government will not engage in reckless new spending schemes that will lead to increased taxes or higher debt, or both.” He added that “we worked too hard to return to a balanced budget to throw it all away,” “so do not expect a big stimulus program.” In addition to that, Mr. Oliver added that balanced books will mean “tax relief for hard-working families.” He explained that “that is what we committed to do in the last election, that is what we have delivered, and that is what we will continue to do.”