Budget 1998 - Information
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Archivé - The 1998 Budget - Overview

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The government's plan for a strong economy and a secure society is paying off. With the budget deficit about to be eliminated, the next fiscal challenge is to bring down the debt.

A Strong Economy

Eliminating the Deficit

Reducing the Debt Burden

The Debt Repayment Plan

The Debt Repayment Plan is based on three key elements:

Inflation Targets

To preserve the gains of low inflation, the federal government and the Bank of Canada have agreed to extend the current inflation control targets -- which are to hold inflation inside the 1- to 3-per-cent range -- until the end of 2001. Together with the sound public finances now in place, this will help maintain the low interest rates that have revived job creation and economic growth in Canada.

The Canadian Opportunities Strategy

This budget builds on actions taken in previous budgets to provide Canadians with greater opportunities to acquire the knowledge and skills needed to access better jobs now and in the future. The proposed Canadian Opportunities Strategy will make the knowledge and skills Canadians will need for better jobs and a better life in the 21st century more accessible and affordable.

The Strategy takes action on seven fronts by:

A Secure Society

The 1998 budget also proposes new initiatives to help build a secure society including:

The budget confirms funding for commitments made in Securing Our Future Together and for other policy initiatives announced over the past year including funding to:

General Tax Relief for Canadians

This budget marks the beginning of general tax relief, starting with those who need it most -- low- and middle-income Canadians.

Overall Fiscal Impacts

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