Federal Budget 2001
Printable Version
THE MAIN EVENT
Federal Budget 2001
On December 10th, Finance Minister Paul Martin unveiled the 2001
federal budget. Highlights of the new budget include:
- A projected surplus of $7.3 billion in 2001-02 and $3.8 in 2002-03
- Commitment to the Five Year Tax Reduction Plan previously announced in the 2000 federal budget
- Approximately $13 billion in new spending over the next five years
With respect to the new spending, $7.7 billion will be funneled
into national security. This includes the military, intelligence,
policing, air travel, immigration, and the border.
He Said, She Said
“There is not a single dollar of spending cuts in this budget. New
pet projects are being financed by spending new taxpayer's dollars.”
Stockwell Day,
Canadian Alliance |
The government
has also earmarked $3 billion for infrastructure and the
environment, including at least $2 billion for capital projects
(i.e. roads, harbours) to stimulate the economy.
Opposition politicians were quick to criticize the budget. The
Alliance was critical of the modest increase in military spending.
"The Auditor-General, in terms of just getting the maintenance
budget going for the Armed Forces, talked about $1.3 billion per
year and [the Liberals] are talking about $300 million per year.
It falls so far short," said Stockwell Day of the Canadian
Alliance. The Progressive Conservatives denounced the absence of
any additional funding for healthcare and agriculture, while the
New Democratic Party highlighted the lack of social spending and a
small economic stimulus package.
The budget was also not well received in the provincial capitals.
Most provincial leaders were unhappy with the lack of new funding
for healthcare. "There's $9 billion, as I understand it, new
spending proposed this year . . . and not one cent for all
Canadians' No.1 priority, which is health care. I do think it's
wrong," Ontario Premier Mike Harris told reporters. Saskatchewan
Premier Lorne Calvert said he was disappointed that the budget
barely mentions agriculture.
More About
the Budget at the Federal Department of Finance Website
NDP Response
to the Budget
Canadian Alliance Response to the Budget
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