cover image: Restoring purpose : Shadow federal budget for 2005

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Restoring purpose : Shadow federal budget for 2005

16 Feb 2005

Fiscal Outlook and Challenges While the federal government’s record of substantial budget surpluses remains intact, the high taxes required to achieve that result in the face of burgeoning spending create concern about the ability to maintain that record in the years ahead. [...] If over-runs on that scale were to persist over the planning period, they would deflate the cushion provided by the contingency reserve and the prudence factor: 2 The primary balance is the difference between tax-and-fee revenue and program spending; net debt charges represent the difference between investment income and gross debt charges. [...] The panel will be asked to define the public finance principles on which a transfer system should be based and to advise on specific formulas that would guide the distribution and growth of major federal- provincial transfers, considered together, and evaluated according to their effectiveness in meeting the intended purpose of the payments. [...] This budget therefore proposes to invest part of the saving realized through the reallocations in expenditure review to expand the capacity and enhance the security of Canada’s international road and rail crossings, airports and sea ports. [...] This budget provides modest net increases to the foreign aid budget in each of the next three fiscal years, reflecting the reallocation of existing resources and the completion of the current review of the foreign aid program.
government politics budget public policy economics economy taxation fiscal policy tax human activities fiscal federal budget public sphere budgets and budgeting c. d. howe c.d. howe research institute united states federal budget

Authors

Poschmann, Finn

ISBN
0888066481
Pages
24
Published in
Canada

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