• a budget that is balanced or better

17

• improved fiscal situation

• a balanced budget that will maintain the debt-to-GDP ratio on a downward path

18

• extended period of budgets that are balanced, or better, and declining debt burden to restore further the government's fiscal credibility

18

• a reduced debt burden over the medium-term without higher taxation

18

• a reduced debt burden to minimize potential intergenerational unfairness

18

• a tax system that adapts to changing fiscal, economic and social realities

19

• a tax system that responds to changing fiscal, economic and social realities

• lower overall tax burden

19

• increased disposable income

19

• increased support for families with children

19

• possible need for investments in other priority areas

19

• improve the overall fairness and neutrality of the tax system

20

• reduce the variation in effective tax rates for different sectors

20

• contribute to enhanced economic growth

20

• help provide a stable revenue base

20

• maintenance of the existing revenue base

21

• effective implementation of changes to the income tax law

21

• a business tax system that is more competitive internationally

21

• a lower tax burden for corporations facing the highest income tax rate

21

• enhanced investment and corporate activity

21

• help make the Canadian tax system more efficient by filling the gap created by the Indian Act exemption

32

• an improved and expanded tax treaty network

22

• Maintaining and expanding Canada's tax treaty network

• provinces have more flexibility to meet their objectives

33

• Improved federal administration of provincial taxes

• both provinces and the federal government have a set of guidelines that are clear and objective

33

• the common tax base is preserved

33

• supply coinage at a reasonable cost to meet the needs of the economy

37

• coinage supply meets the needs of the economy and at a reasonable cost

• accurate, appropriate and timely payment of domestic coinage production and distribution costs

38

• a new coin contract with the Royal Canadian Mint containing terms and business arrangements that are more economical

38

• debt charges not to exceed those projected in the budget, including the contingency reserve

43

• Enhanced efficiency and effectiveness of the federal government's borrowing program

• a refinancing schedule that is moderate

43

• successful auctions and active trading of Government of Canada securities

43

• lower costs

43

• broad distribution of federal market debt

43

• adequate levels of reserves and cash balances to meet operational and liquidity needs

44

• successful foreign financing operations

44

• effective risk-management processes

45

• Effective financial risk-management processes

• launch and advertise a pilot service allowing individual Canadians to purchase Treasury bills and marketable bonds directly from the Government of Canada at the time of the auctions

46

• Diversifying the government's investor base

• continue conversion of payroll companies and introduce the Canada Premium Bond as an option

46

• continue the six-month sales pilot project

46

• conduct research and feasibility studies to introduce new distribution channels

46

• further expand the "New Canada Savings Bonds" brand

46

• pursue the reorganization and restructuring of the Canada Investment and Savings sales force

46

• identification of potential new retail debt products or services, or new features for existing products or services

47

• establishment of an updated memorandum of understanding with the Bank of Canada

47

• development through the Bank of Canada of a Technology Architecture and Implementation Plan in support of the Customer Care Service Vision

47

The Knowledge-based Economy

• better incentives for economic growth, investment, work effort and entrepreneurship

19

• Incentives for economic growth, investment and entrepreneurship

• better incentives for economic growth, entrepreneurship and productivity

21

• a competitive and dynamic financial services sector that is also responsive to consumer needs

29, 30

• a competitive and dynamic financial services sector that is responsive to consumer needs

• broader range of entry options for foreign institutions wishing to enter Canada

30

• increased competition in the Canadian financial services sector

30

• enhance Canada's contribution to international efforts to detect and deter money-laundering

31

• Increased efforts to detect and deter money-laundering, aiding in the international fight against organized crime

• contribute to the fight against organized crime

31

Social Advantage for Canada

• all governments to work together to reach an agreement on a national action plan to support early childhood development

23

• Improved support for Canadian children

• a significant increase in benefits to low-income families with children

24

• tax relief for families with children and low, modest and middle incomes

24

• annual report on the operations of the Canada Pension Plan

24

• a secure and stable Canada Pension Plan

• a federal-provincial /territorial agreement in 2002–03 on changes, if any, to be made to the CPP

24

• amendment of the Canada Pension Plan Investment Board regulations

24

• research and consultation with provinces and territories, leading to work plans for major transfers from here to the renewal of the legislation (federal-provincial fiscal arrangements)

25

• Improved support for provinces and territories in providing social and other public services

• timely and accurate payments to provinces consistent with statutory requirements

50

• identification of possible adjustments to the Equalization program

50

• funding available to provinces in accordance with the Fiscal Arrangements Act

50

• provide funding to territories in accordance with Territorial Formula Financing Agreements

51

• elaboration of federal policy on financial arrangements to support Aboriginal governance

32

• Enhanced support for effective and transparent Aboriginal governments

• new and innovative fiscal transfer models that support effective Aboriginal governments

32

• facilitate and promote the exercise of taxation powers by First Nations

32

• help First Nations achieve a greater degree of self-government, self-reliance and accountability to their members

32

Global Advantage for Canada

• successful launch of the G–20

26

• a more secure international financial system

• statement of principles on domestic policy actions to reduce countries' vulnerability to crises

26

• set agenda for reform of International Financial Institutions to contribute to international financial stability

26

• successful meetings of the WHFM and G–7 to build on the work of the G–20

26

• strengthened IMF surveillance through greater emphasis on countries' financial vulnerabilities, as well as macroeconomic fundamentals

26

• make available to markets through the IMF more information on countries' economic and financial policies and their implementation of international standards and codes of good practice

36

• improved and streamlined the Fund's financial facilities

37

• Canada anticipates net economic gains through increased access to foreign markets for goods and services

26

• advance Canada's international trade and investment interests

• have recourse to the dispute settlement mechanisms available to Canada under trade agreements

27

• implementation of unilateral tariff changes

28

• tariff and trade remedy policies supportive of Canadian competitiveness

• development of a cost-effective national strategy appropriate for Canada

29

• a cost-effective national strategy on climate change

• funding identified to allow continuation of the Heavily Indebted Poor Countries (HIPC) Initiative

36

• Improved financial stability of poor countries

• significant number of HIPCs reach their Decision Points in 2000

36

• Poverty Reduction Strategy Papers (PRSPs) developed for a significant number of HIPCs

36

• improved the World Bank's ability to advise and assist developing countries in supervising and regulating their financial systems adequately

37

Air Canada Public Participation Act

(R.S. 1985, c. 35, 4^th Suppl.)

Bank Act

(1991, c. 46, unofficial B-1.01)

Bank of Canada Act

(R.S.C. 1985, c. B 2)

Bills of Exchange Act (with the exception of Part IV)

(R.S.C. 1985, c. B-4)

Bretton Woods and Related Agreements Act

(R.S.C. 1985, c. B-7)

Canada Deposit Insurance Corporation Act

(R.S.C. 1985, c. C-3)

Canada Development Corporation Reorganization Act

(1985, c. 49)

Canada-Newfoundland Atlantic Accord Implementation Act

(S.C. 1987, c. 3)

Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, Parts IV and V

(1988, c. 28)

Canada Pension Plan Act (ss. 109 to 113 and 115)

(R.S.C. 1985, c. C-8)

Canada Pension Plan Investment Board Act

(S.C. 1997, c. 40)

Canada-U.S. Free Trade Agreement Implementation Act, Part II

(S.C. 1988, c. 65)

Canadian Payments Association Act

(R.S.C. 1985, c. C-21)

Cooperative Credit Association Act

(R.S.C. 1991, c. 48, unofficial C-41.01)

Currency Act

(R.S.C. 1985, c. C-52)

Customs and Excise Offshore Application Act

(R.S.C. 1985, c. C-53)

Customs Tariff

(R.S.C. 1985, c. C-54)

Debt Servicing and Reduction Account Act

(1992, c. 18, unofficial D-0.5)

Diplomatic Service (Special) Superannuation Act

(R.S.C. 1985, c. D-2)

European Bank for Reconstruction and Development Agreement Act

(1991, c. 12, unofficial E-13.5)

Excise Act

(R.S.C. 1985, c. E-14)

Excise Tax Act

(R.S.C. 1985, c. E-15)

Federal-Provincial Fiscal Arrangements Act

(R.S.C. 1985, c. F-8)

Federal-Provincial Fiscal Revisions Act, 1964–65

(1964–65, c. 26)

Financial Administration Act (shared with the President of the Treasury Board)

(R.S.C. 1985, c. F-11)

Financial Consumer Agency of Canada Act

(2001, c.9)

Garnishment, Attachment and Pension Diversion Act (as it relates to MPs' pensions)

(R.S.C. 1985, c. G-2)

Halifax Relief Commission Pension Continuation Act

(S.C. 1974–75–76, c. 88)

Income Tax Conventions Interpretation Act

(R.S.C. 1985, c. I-4)

Insurance Companies Act

(1991, c. 47, unofficial I-11.8)

Interest Act

(R.S.C. 1985, c. I-15)

Newfoundland Additional Financial Assistance Act

(R.S.C. 1985, c. N-23)

Oil Export Tax Act

(S.C. 1973–74, c. 53)

Payment, Clearing and Settlement Act

(S.C. 1996, c. 6)

Pension Benefits Standards Act

(R.S.C. 1985, c. P-7)

Petro-Canada Limited Act

(R.S. 1985, c. P-11)

Prince Edward Island Subsidy Act, 1912

(S.C. 1912, c. 42; 1926–27, c. 76)

Proceeds of Crime (Money Laundering) Act

(S.C. 2000, c. 17)

Special Import Measures Act

(R.S.C. 1985, c. S-15)

Supplementary Fiscal Equalization Payments 1982–87 Act

(S.C. 1985, c. 29)

Trust and Loan Companies Act

(1991, c. 45, unofficial T-19.8)

Winding-up and Restructuring Act

(R.S. 1985, c. W-11)

Important Notices