2001 Canadian federal budget
Encyclopedia
The 2001 Canadian budget was a Canadian federal budget
for the Government of Canada
presented by Minister of Finance Paul Martin
in the Canadian House of Commons
on December 10, 2001. It was known as the "Security Budget" for its focus on security after the September 11 attacks in the United States
.
The budget was unusually presented in December 2001, federal budgets are normally released in February or March. However the election in November 2000
had been preceded by a detailed "budget update".
The budget was the second last presented by Paul Martin as Minister of Finance. It was marked by the poor Canadian economy of the year before that saw very slow growth. In order to keep the budget balanced, Martin proposed only limited new spending. The largest outlay was $7.7 billion over five years to improve security. This was partially paid for by a new levy on airline tickets and $3 billion in spending cuts. The budget was criticized by the opposition Bloc Québécois
and New Democratic Party
, and by provincial governments for its lack of spending, especially on health care
. It was criticized by the Canadian Alliance
party for not cutting taxes.
Budget
A budget is a financial plan and a list of all planned expenses and revenues. It is a plan for saving, borrowing and spending. A budget is an important concept in microeconomics, which uses a budget line to illustrate the trade-offs between two or more goods...
for the Government of Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
presented by Minister of Finance Paul Martin
Paul Martin
Paul Edgar Philippe Martin, PC , also known as Paul Martin, Jr. is a Canadian politician who was the 21st Prime Minister of Canada, as well as leader of the Liberal Party of Canada....
in the Canadian House of Commons
Canadian House of Commons
The House of Commons of Canada is a component of the Parliament of Canada, along with the Sovereign and the Senate. The House of Commons is a democratically elected body, consisting of 308 members known as Members of Parliament...
on December 10, 2001. It was known as the "Security Budget" for its focus on security after the September 11 attacks in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
.
The budget was unusually presented in December 2001, federal budgets are normally released in February or March. However the election in November 2000
Canadian federal election, 2000
The 2000 Canadian federal election was held on November 27, 2000, to elect 301 Members of Parliament of the Canadian House of Commons of the 37th Parliament of Canada....
had been preceded by a detailed "budget update".
The budget was the second last presented by Paul Martin as Minister of Finance. It was marked by the poor Canadian economy of the year before that saw very slow growth. In order to keep the budget balanced, Martin proposed only limited new spending. The largest outlay was $7.7 billion over five years to improve security. This was partially paid for by a new levy on airline tickets and $3 billion in spending cuts. The budget was criticized by the opposition Bloc Québécois
Bloc Québécois
The Bloc Québécois is a federal political party in Canada devoted to the protection of Quebec's interests in the House of Commons of Canada, and the promotion of Quebec sovereignty. The Bloc was originally a party made of Quebec nationalists who defected from the federal Progressive Conservative...
and New Democratic Party
New Democratic Party
The New Democratic Party , commonly referred to as the NDP, is a federal social-democratic political party in Canada. The interim leader of the NDP is Nycole Turmel who was appointed to the position due to the illness of Jack Layton, who died on August 22, 2011. The provincial wings of the NDP in...
, and by provincial governments for its lack of spending, especially on health care
Health care
Health care is the diagnosis, treatment, and prevention of disease, illness, injury, and other physical and mental impairments in humans. Health care is delivered by practitioners in medicine, chiropractic, dentistry, nursing, pharmacy, allied health, and other care providers...
. It was criticized by the Canadian Alliance
Canadian Alliance
The Canadian Alliance , formally the Canadian Reform Conservative Alliance , was a Canadian conservative political party that existed from 2000 to 2003. The party was the successor to the Reform Party of Canada and inherited its position as the Official Opposition in the House of Commons and held...
party for not cutting taxes.