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Dear John,
This year marks the 30th anniversary of the Chrétien Liberal government’s 1995 federal budget — one of the most important budgets in Canadian history — which contains key lessons for today’s federal and provincial policymakers.
After decades of budget deficits and debt accumulation brought Canada to the brink of a fiscal crisis, the 1995 federal budget reduced spending, imposed clear and effective limits on new spending and borrowing, and established a swift path to a balanced budget.
Fast-forward to today — due to successive years of large deficits and debt accumulation, federal finances have markedly deteriorated.
To reverse course, in its upcoming budget the federal government should emulate the 1995 budget reforms.
Learn more here, and be sure to help us spread this news far and wide.
Sincerely,
Niels Veldhuis
President
The Fraser Institute
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