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BUDGET COMMENTARY
Federal Finance Minister Jim Flaherty tabled his sixth Budget in the House of Commons on Tuesday, March 22 in a political atmosphere that was perhaps more tense and confrontational than at any time in recent Canadian history.

As expected based on pre-Budget statements, immediately following the Minister’s speech both Liberal leader Michael Ignatieff and Bloc Quebecois leader Gilles Duceppe said their parties would reject the proposed Budget in Parliament. Somewhat less expected was that NDP leader Jack Layton also said his party would not support the Budget “as presented.” Failing some compromise, Prime Minister Stephen Harper will likely be obliged to call a federal election, perhaps as early as within the next few days, in which case the Budget’s proposals will not be enacted into law.
The Finance Minister described the Budget as “the next phase of Canada’s economic action plan” and one that “supports job creation and continues to lay the foundation for sustainable economic growth.” He stated that Canada has been able to “act boldly and effectively” to protect jobs and minimize the impact of the global recession on Canadians. To read more download the full Federal Budget Commentary below.

Download the full Federal Budget Commentary, March 22, 2011