2007 (2007) Budget of the Canadian Federal Government
C-52
Presented
March 19, 2007
Passed
June 22, 2007
Parliament
39th
Party
Conservative
Finance minister
Jim Flaherty
Total revenue
C$242.4 billion[1]
Total expenditures
C$232.8 billion[1]
Program Spending
C$199.5 billion[1]
Tax cuts
C$5.7 billion
Debt payment
C$33.3 billion[1]
Surplus
C$9.6 billion[1]
Debt
C$457.6 billion[1]
Website
http://www.budget.gc.ca/2007/pdf/bp2007e.pdf Aspire to a Stronger, Safer, Better Canada
‹ 2006
2008›
The Canadian federal budget for the 2007–2008 fiscal year was presented to the House of Commons of Canada by Finance Minister Jim Flaherty. Flaherty presented the 2007 budget on March 19, 2007. No income tax or GST cuts were announced but there were tax credits (of up to $310 per child) for some families with children under 18.[2] The federal budget included $14 billion in new spending and $5.7 billion in tax cuts. This was the second budget of the 39th Canadian Parliament.
Since the government held a minority, the budget needed support of at least one opposition party. On March 29, 2007, Bill C-52, the enabling legislation to implement the budget, received First Reading in the House of Commons with the support of the Bloc Québécois. The New Democratic Party and Liberal Party voted against it. The budget passed 174 to 109 in the House of Commons in first reading.[3] It would later pass the second and third readings in June.
Many politicians believe that the changes to equalization disregard the Atlantic Accord. There was speculation that some Atlantic government members would vote against the Budget, but only Bill Casey did, and was subsequently removed from Caucus.
On June 22, 2007, the Senate passed the budget with a vote of 45–21, with only liberal senators from Atlantic Canada and Saskatchewan voting against it. Conservative senator Anne Cools voted against it too, which in turn led to her removal from the Conservative caucus. The bill was given royal assent by the Governor-General, Michaëlle Jean, about two hours after the vote.[4]
^ abcdef"Canada's Economic Action Plan: Budget 2009" (PDF). Department of Finance Canada. January 27, 2009. Retrieved May 8, 2009.
^CTV News. "Families with children biggest winners in budget". CTV. Archived from the original on February 25, 2021.
^CTV News (March 26, 2007). "Tory budget survives second confidence vote". CTV. Archived from the original on February 25, 2021.
^"Senate passes Tory budget". CBC News. June 22, 2007. Archived from the original on June 25, 2007. Retrieved 22 June 2007.
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