September 2012

Fiscal Monitor for April to July 2012

For the first four months of fiscal year 2012-13 (April to July), the federal government posted a deficit of $3.0 billion, $2.9 billion lower than the $5.9 billion reported in the same period in 2011-12.

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A Government on Autopilot

In a recent speech to the Canadian Council of Chief Executives, Mr. Flaherty once again reminded Canadian business leaders that the government had done all it could to support economic growth and job creation, and it was now up to the business sector to do its part.

“Our government continues to create the right conditions to enable Canadians and Canadian businesses to feel confident to invest, to create jobs, to participate in the global market place and to grow our economy. But ultimately, it is up to the private sector to take advantage of all these strengths.” 

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Improving Budget Accountability and Transparency: Setting Limits on Budget Omnibus Bills

Everyone is waiting for the Government to table its second 2012 Budget Omnibus Bill.  The first bill, Bill C-38, “An Act to Implement Certain Provisions of the Budget Tabled in Parliament on March 29, 2012 and Other Measures” contained 425 pages. The first Omnibus bill engendered considerable discussion and hostility because, by including major policy changes in the Bill, it precluded substantive policy reviews by appropriate Parliamentary Committees, and indeed limited review by Parliament itself. The government in effect had circumvented the authority of Parliament.

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