Federal Budget to be Introduced on Feb 27

In the House of Commons Monday Afternoon federal Finance Minister Bill Morneau announced that the federal budget will be introduced on February 27.

Morneau said that budget will focus on equality and a more diverse Canada.

Combined federal and provincial net debt has increased from $833 billion in 2007/08 to a projected $1.4 trillion in 2016/17.

Federal budgets are usually released in February or March, before the start of the fiscal year. All of the provinces also present budgets. Since provincial finances are dependent on money from the federal government, these budgets are usually released after the federal one.

The Government of Canada Fiscal Year runs from April 1 to March 31.