In Canada, federal budgets are presented annually by the Government of Canada to identify planned government spending, expected government revenue, and forecasted economic conditions for the upcoming year. Canadian Debt is approximatly CAD$500 billion and is constantly reducing. System of government Canada is a constitutional monarchy as a Commonwealth Realm (see Monarchy in Canada) with a federal system of parliamentary government, and strong democratic traditions. ...

Federal budgets are usually released in February or March, before the start of the fiscal year. All of the provinces also present budgets. Since provincial finances are dependent on money from the federal government, these budgets are usually released after the federal one.

The budget is traditionally announced in the House of Commons by the Minister of Finance. The Budget is then voted on by the House of Commons. Budgets are a confidence measure, and if the House votes against it the government will fall, as happened to Prime Minister Joe Clark's government in 1980. The governing party strictly enforces party discipline, usually expelling from the party caucus any government Member of Parliament (MP) who votes against the budget. Opposition parties almost always vote against the budget. In cases of minority government, the government has normally had to include major concessions to one of the smaller parties to ensure passage of the budget. The House of Commons (French: Chambre des communes) is a component of the Parliament of Canada, along with the Sovereign (represented by the Governor General) and the Senate. ... The Minister of Finance is one of the most important positions in the Cabinet of Canada. ... Confidence is trust or faith that a person or thing is capable. ... Stephen Harper is the current Prime Minister of Canada. ... Charles Joseph Joe Clark, PC, CC, AOE, MA, LLD (born June 5, 1939) was the sixteenth prime minister of Canada, from June 4, 1979, to March 3, 1980. ... 1980 (MCMLXXX) was a leap year starting on Tuesday. ... A Member of Parliament, or MP, is a representative elected by the voters of an electoral district to a parliament; in the Westminster system, specifically to the lower house. ... A minority government or a minority cabinet is a cabinet of a parliamentary system formed when no political party has won a majority of seats in the parliament, typically by the party that does have a plurality. ...

Historically the official opposition used to prepare a complete alternative budget and present this alternative to the Canadian people along with the main budget. In recent years, opposition parties are more likely to pick only certain aspects to criticize. The Reform Party revived this practice for a time, however. A complete alternative budget is today produced each year by the Canadian Centre for Policy Alternatives, a leftist think-tank. The Parliamentary Opposition is a form of political opposition to a designated government, particularly in a Westminster-based parliamentary system. ... The Reform Party of Canada was a Canadian federal political party founded in 1987. ... The Canadian Centre for Policy Alternatives is Canadas leading left-wing think tank. ...

Traditionally, the budget process was immensely secretive with little consultation. Under Prime Minister Louis St. Laurent, the Finance Minister famously would type the entire budget himself so that no secretary could read it. This secrecy was felt to be needed for inside information could enable individuals to profit from upcoming government decisions. The secrecy also had a large political component, as it would help undermine the response by the opposition. Louis Stephen St. ...

Under Prime Minister Jean Chrétien and his Finance Minister Paul Martin, this changed considerably. Most of the budget would be released well before its announcement, especially any major changes so as to get feedback from the populace and the market. Joseph Jacques Jean Chrétien, usually known as Jean Chrétien, PC, QC, BA, LLL, LLD (born January 11, 1934), served as the twentieth Prime Minister of Canada from November 4, 1993 to December 12, 2003. ... This article or section does not cite its references or sources. ...

The process of creating the budget is a complex one involving demands from MPs for aid to their regions, ministers for their departments, and the constant desire not to overspend. How and why actual decisions are made remains hidden to most Canadians.

See also

• Canadian Federal Government, Financial Year 2003-04