• Something for Everyone: Federal Government Maintains Balancing Act with 2005 Budget
  • March 9, 2005 | Authors: Michael Friedman; David G. Wentzell
  • Law Firm: McMillan LLP - Toronto Office
  • The annual federal budget is widely regarded as the cornerstone of a government's ongoing fiscal and economic vision. The significance of the budget is further heightened when a government does not hold a majority of the seats in the House of Commons. While Lester B. Pearson's 1963 government survived its first minority budget, Joe Clark's 1979 minority government fell as a result of being unable to secure adequate Parliamentary support for its proposed budgetary measures.