STATEMENT BY THE PRIME MINISTER ON THE BALANCED BUDGET FOR 2014/2015

Today, the Prime Minister responded to the Department of Finance’s posting of the Annual Financial Report for 2014-15, showing a budgetary surplus of $1.9 billion for the fiscal year that ended on March 31, 2015:

 

“The protection of our economy is our number one priority. Amid increasing instability in the global economy, our Conservative Government’s Economic Action Plan is working; delivering new jobs and economic growth through lower taxes and a balanced budget.

“Today, Finance Canada confirmed that under our Conservative Government’s careful economic stewardship, we ran a near $2B surplus in the 2014-2015 fiscal year, one full year ahead of schedule. This is in addition to last month’s news that we have confirmed a five-billion-dollar surplus for the first three months of the current fiscal year.

“Our low-tax, balanced budget plan has helped the Canadian economy grow for the seventh straight year and create nearly 1.3 million net new jobs – the best job creation record in the G7.

“The Liberals and the NDP are both pledging to raise taxes on families, seniors and small businesses that will endanger job-creation and expose our economy to global instability. The Liberal and NDP plans will kill jobs and destabilize the economy by raising EI payroll taxes by at least $2 billion per year, and imposing thousands of dollars in new CPP payroll taxes on every worker and employer in this country. The wrong government decision on taxes, spending or deficits can upset the fragile economy, causing business closures, downsizing and job losses in communities across Canada.

“Now is not the time for long-term deficits or higher taxes. Only our Conservative government has a plan to protect Canada’s economy by ensuring our budget remains balanced and lowering taxes to create new jobs and make life more affordable for Canadian families and seniors.”