Canada awaits as Finance Minister Joe Oliver is set to deliver his long-awaited federal budget in Ottawa today.
The main focus is expected to be on fiscal policy, the big question being if the government has any room to make changes to last October’s tax cuts. The cuts contributed to the economic fallout from the subsequent plunge in oil prices that have wreaked havoc on the Canada’s resource economy.
This will be the first time Oliver has delivered a budget since he succeeded the late Jim Flaherty last year. He has promised to balance the budget ahead of a federal election, which is expected in October.
The ruling Conservative government has already announced tax cuts and benefits for families, much to the relief of the party’s supporters.