2014 Canadian federal budget

none April 2026 Budget of the Canadian Federal Government 2014 Canada 2013 Canadian federal budget 2013 2015 Canadian federal budget 2015 2014 Canadian federal budget logo.svg 200 11 February 2014 41st Conservative Jim Flaherty 276.3 billion (Projected)CablePulse24282.3 billion (Actual)https://www.fin.gc.ca/afr-rfa/2015/report-rapport-eng.asp#toc1 Archived - Annual Financial Report 2014-2015 Government of Canada, Department of Finance www.fin.gc.ca 2018-10-21 279.2 billion (Projected)CablePulse24282.9 billion (Actual)https://www.fin.gc.ca/afr-rfa/2015/report-rapport-eng.asp#toc1 Archived - Annual Financial Report 2014-2015 Government of Canada, Department of Finance www.fin.gc.ca 2018-10-21 2.9 billion (Projected)CablePulse24550 million (Actual) budget.canada.ca The Canadian federal budget for fiscal year 2014–15 was presented to the House of Commons of Canada by Jim Flaherty on 11 February 2014. This was the last budget presented by the Finance Minister before his resignation in March and death in April. At the end of the fiscal year, the government was surprised to post a budgetary surplus of $1.9 billion.How to react to Canada's surprising budget surplus https://www.theglobeandmail.com/globe-debate/editorials/how-to-react-to-canadas-surprising-budget-surplus/article26361999/ 28 September 2015 Globe and Mail 14 September 2015 This however would later be overturned to a small deficit of $550 million due to improper accounting methodologies for the Government's unfunded pension obligations, as pointed out for years by the Auditor General.https://www.fin.gc.ca/afr-rfa/2018/report-rapport-eng.asp#_Toc525903642 Annual Financial Report of the Government of Canada 2017-2018 Government of Canada, Department of Finance www.fin.gc.ca 2018-10-21 22 October 2018 https://web.archive.org/web/20181022221547/https://fin.gc.ca/afr-rfa/2018/report-rapport-eng.asp#_Toc525903642 dead Programs The budget cut 3.1 billion CAD from the Department of National Defence budget allocated for procurement of equipment via the Canada First Defence Strategy.Cudmore 2014 Flaherty stated the funds would be restored in the future when "key purchases will be made".Cudmore 2014 The government announced a plan to establish the National Disaster Mitigation Program, which it would begin funding in the 2015–2016 fiscal year under the 2015 budget.Wingrove Blaze Carlson Mackrael 2014 The program "will invest in structural mitigation projects" and provide residential flood insurance in conjunction with provincial, territorial, and private insurance plans.Wingrove Blaze Carlson Mackrael 2014 The budget established the Canada First Research Excellence Fund, which was to receive $50 million in the 2015–2016 fiscal year for research funding at post-secondary institutions.Wingrove Blaze Carlson Mackrael 2014 Four grant councils, including the Canadian Institutes of Health Research and the Natural Sciences and Engineering Research Council, would receive a combined $46 million annually.Wingrove Blaze Carlson Mackrael 2014 Taxes and tariffs The proposed budget increased excise taxes on cigars, cigarettes, chewing tobacco, and tobacco sticks, and also imposed a tax increase on duty-free tobacco products.Fekete 2014 Flaherty stated that the increase was to account for the effects of inflation since 2002, and would be indexed to inflation every five years. the Tax took effect 12 February 2014.Fekete 2014 The budget allocated $92 million of tobacco tax revenues over five years to establish the Geospatial Intelligence and Automated Dispatch Centre and to install sensors to detect movement of contraband tobacco products in high-risk areas.Fekete 2014Curry 2014 The budget included a reduction in sick leave benefits for public servants, a doubling of the Public Service Health Care Plan premium for retired civil servants, and increasing eligibility requirements to reduce enrollment in the program.May 2014Curry 2014 The government said it also expected to replace the sick leave benefit program with a short-term disability program in future collective bargaining with public sector unions, and included in the budget the expected compensation savings from that change.May 2014 The small business hiring tax credit was eliminated by the budget,Curry 2014 as was a tariff for mobile offshore drilling systems.Wingrove Blaze Carlson Mackrael 2014 The tax credit for adopting children was increased to 15000 CAD.CablePulse24Janus 2014 Search and rescue personnel with 200 hours of service per year received a tax credit similar to that received by volunteer fire fighters in the 2011 budget.CablePulse24Janus 2014 "Immigration trusts" were eliminated by the budget.Golombek 2014 These trusts were used by immigrants to shelter investment income from Canadian income tax.Golombek 2014 Graduated tax rates for testamentary trusts were also eliminated.Golombek 2014 Business The Automotive Innovation Fund was increased by $500 million over two years.Curry 2014 The budget also allocated $78 million per year for five years for the Canadian Food Inspection Agency to improve inspections and establish the Food Safety Information Network.Wingrove Blaze Carlson Mackrael 2014 The budget bill also included a proposal to update some regulations. The Food and Drug Regulations would be amended to redefine the term beer to "reflect innovation" in brewing.Janus 2014 It updated the compositional standards, allowing the use of flavouring ingredients such as nutmeg by craft breweries.Wingrove Blaze Carlson Mackrael 2014 Intellectual property laws relating to trademarks, service marks, and patents were changed for consistency with the Madrid Protocol, the Singapore Treaty, the Nice Agreement, the Patent Law Treaty, and the Hague Agreement.Payton 2014 The budget document also stated that Service Canada would operate the Canada Job Grant, which had been announced in the 2013 federal budget, in jurisdictions with which the federal government failed to secure agreements.CBC News March 2014 Notes 20em References http://www.cbc.ca/news/politics/budget-2014-military-wings-clipped-again-1.2532827 Budget 2014: Military wings clipped again Cudmore James CBC News 11 February 2014 11 February 2014 https://www.theglobeandmail.com/news/politics/flaherty-delivers-federal-budget/article16788927/ Federal budget takes aim at erasing deficit by 2015 Curry Bill The Globe and Mail 11 February 2014 11 February 2014 https://nationalpost.com/news/politics/federal-budget-unveils-major-tax-hike-for-smokers-that-will-see-jump-in-cost-of-cigarettes-tobacco-and-cigars Federal budget unveils major tax hike for smokers that will see jump in cost of cigarettes, tobacco and cigars Fekete Jason National Post 11 February 2014 11 February 2014 http://business.financialpost.com/2014/02/11/canada-federal-budget-2014-targets-wealthys-tax-shelters/ Federal Budget 2014 targets wealthy's tax breaks Financial Post Golombek Jamie 11 February 2014 12 February 2014 https://www.ctvnews.ca/politics/article/fun-facts-from-budget-2014-good-news-for-microbrews/ Fun facts from Budget 2014: Good news for microbrews Janus Andrea CTV News 11 February 2014 12 February 2014 https://nationalpost.com/news/politics/canada-budget-2014-looks-to-slash-public-servants-benefits-in-effort-to-save-billions Canada budget 2014 looks to slash public servants' benefits in effort to save billions May Kathryn National Post Postmedia Network 11 February 2014 11 February 2014 http://www.cbc.ca/news/politics/budget-2014-flaherty-comes-close-to-surplus-while-keeping-promises-vague-1.2531234 Budget 2014: Flaherty comes close to surplus while keeping promises vague Payton Laura CBC News 11 February 2014 11 February 2014 https://www.theglobeandmail.com/news/politics/2014-federal-budget-canada-canadian-jim-flaherty-highlights/article16789139/ 13 must-know items from the 2014 federal budget Wingrove Josh Blaze Carlson Kathryn Mackrael Kim The Globe and Mail 11 February 2014 11 February 2014 http://www.cp24.com/news/highlights-from-flaherty-s-2014-federal-budget-1.1681335 Highlights from Flaherty's 2014 federal budget The Canadian Press CP24 11 February 2014 12 February 2014 CablePulse24 http://www.cbc.ca/news/canada/new-brunswick/n-b-1st-atlantic-province-to-sign-canada-job-grant-agreement-1.2574026 N.B. 1st Atlantic province to sign Canada Job Grant agreement CBC News 15 March 2014 22 January 2015 CBC News March 2014 External links Budget 2014 at Finance Canada 2014 Canada Category:2014 in Canadian politics Budget, 2014 Budget, 2014 Budget, 2014 Category:February 2014 in Canada