Introduction
On May 1, 2014 Finance Minister Charles Sousa tabled his second
Budget.
The deficit for the 2013-14 fiscal year is projected to be $11.3
billion, which is $400 million less than the amount estimated when
the 2013 Budget was tabled. The deficit for the 2014-15 year is
projected to be $12.5 billion and the longer-term forecast
continues to call for a return to a surplus by 2016-17. Net public
debt to GDP is projected to continue to increase until 2015-16,
from which time it will to start to decrease.
Top income earners, large Canadian-controlled private
corporations (CCPC), users of aviation fuel and tax-exempt diesel
fuel, and smokers will all face increases in the taxes they
pay.
