November 1978 Canadian federal budget

The Canadian federal budget for fiscal year 1979-1980 was presented by Minister of Finance Jean Chrétien in the House of Commons of Canada on 16 November 1978.[2]

November 1978 (November 1978) Budget of the Canadian Federal Government
Presented16 November 1978
Parliament30th
PartyLiberal
Finance ministerJean Chrétien
Total revenue43.310 billion [1]
Total expenditures55.277 billion [1]
Deficit$11.967 billion[1]
1979

Context

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August 1978 spending cuts

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The budget follows the announcement by Prime Minister Pierre Trudeau of a $2-billion spending cuts package on 1 August 1978. Details for $1.5-billion of the cuts were released on 16 August 1978 and affected more than 100 federal programs and many organisms including the Department of National Defence ($150-million), the CBC ($71-million), the Canadian International Development Agency ($133-million) and many other federal institutions. Construction of a heavy water plant in La Prade (Quebec) was immediately suspended to generate $150-million in savings.[3]

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References

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  1. ^ a b c "Canada's deficits and surpluses, 1963-2014". CBC News. CBC/Radio-Canada. Retrieved 25 April 2015.
  2. ^ "The Leader-Post". news.google.com. 17 November 1978. Retrieved 2020-06-17.
  3. ^ Trueman, Mary (17 August 1978). "$1.5 billion in cuts Ottawa's first step under PM's pledge". The Globe and Mail. p. 1.