when did canada last have a balanced budget
Canadian public debt With a recession, and an increase in federal spending from 2008, the federal debt grew by $5.8 billion in 2008â€“09. Large annual deficits from 2008 to 2013 has Canadian debt surpassing the $600 billion mark by November 2012, making it larger than the 1997 peak in absolute dollars (although far smaller in comparison to GDP). Starting in 2014, Canada returned to balanced budgets and has posted a small surplus (despite the debt continuing to increase in the following table).
Prime Minister of Canada The Canadian prime minister serves at Her Majesty's pleasure, meaning the post does not have a fixed term. Once appointed and sworn in by the governor general, the prime minister remains in office until he or she resigns, is dismissed, or dies.[14] The lifespan of parliament was limited by the constitution to five years and, though the governor general may still, on the advice of the prime minister, dissolve parliament and issue the writs of election prior to the date mandated by the Canada Elections Act; the King–Byng Affair was the only time since Confederation that the governor general deemed it necessary to refuse his prime minister's request for a general vote. As of 2007, with an amendment to the Elections Act, Section 56.1(2) was changed to limit the term of a majority government to four (4) years, with election day being set as the third Monday in October of the 4th calendar year after the previous polling date. [15]