ARTICLE · 09 APRIL 2012

Eliminating Canada’s Debt, A Penny At A Time

Stikeman Elliott LLP

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Budget 2012 claims that it "sets out a comprehensive agenda to bolster Canada’s fundamental strengths and address the important challenges confronting the economy over the long term".

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Budget 2012 claims that it "sets out a comprehensive agenda to bolster Canada's fundamental strengths and address the important challenges confronting the economy over the long term". This is to be accomplished by supporting entrepreneurs and innovators, streamlining resource development, expanding international trade, promoting immigration that meets labour market demands, developing sustainable social and retirement programs and ensuring responsible expenditure management.

The deficit for 2010/11 was $33.4b. The predictions are for deficits in 2011/12 ($24.9b), 2012/13 ($21.1b), 2013/14 ($10.2b) and 2014/15 ($1.3b), followed by surpluses in 2015/16 ($3.4b) and 2016/17 ($7.8b).

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