Misplaced Pages

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13-589: The 1995 Canadian federal budget announced that both the Established Programs Financing and the Canada Assistance Plan would be combined into a new block-fund fiscal arrangement called the Canada Health and Social Transfer starting in 1996–97 fiscal year. The first agreement on Established Programs Financing was reached in 1977 and set to expired in 1987. It stipulated that increases in

26-617: A more commercial basis. Most of the content of the budget was included in the Bill C-76 ( An Act to implement certain provisions of the budget tabled in Parliament on February 27, 1995 ) that was adopted by the House of Commons on 6 June 1995. Reform , Bloc , NDP and one of the two Progressive-conservative ( Elsie Wayne ) MPs voted against the budget while Gilles Bernier (the only independent MP elected in 1993) and Jag Bhaduria (formerly part of

39-507: A scheduled cut amounting to 60.4% between 1994–95 and 1997–98. The budget announced major changes to transfers to provinces. Up until 1995, transfers consisted mostly of: The budget announced that the first two programs are to be combined into a single block transfer called the Canada Health and Social Transfer (CHST) starting in the fiscal year 1996–97. In the budget the CHST is designated as Canada Social Transfer (CST) which coincidentally

52-428: Is maintained for farming and small businesses. In order to increase revenues, the budget plans for new cost recovery and user fees initiatives, notably: These initiatives were to generate $ 450 millions in annual revenues in 1995–96 and up to $ 600 millions when fully implemented. The budget announces massive cuts to program expenditures, amounting to 18.9 % by 1997–98. A new Expenditure Management System (EMS)

65-462: Is the Canadian government's transfer payment program in support of post-secondary education , social assistance , and social services , including early childhood development and early learning and childcare . It was made independent from the Canada Health and Social Transfer program on 1 April 2004 to allow for greater accountability and transparency for federal health funding. In 2008/2009,

78-525: Is the name of a successor transfer to the CHST. The Public Utilities Income Tax Transfer Act (PUITTA) is suspended after April 1, 1995 and the PUITTA is repealed on March 31, 1999, providing the federal government with more than $ 200 millions in annual savings. The budget announced the privatization efforts were to continue with multiple state-owned corporations to be sold to the private sector. Many other federal departments and agencies were to operate on

91-540: The 1991 budget that EPF entitlements would be frozen through fiscal year 1994–95 and would then resume growth based on GDP per capital growth minus 3% . The measure was implemented by the Budget Implementation Act, 1991 which received royal assent on 17 December 1991. This Canadian government –related article is a stub . You can help Misplaced Pages by expanding it . 1995 Canadian federal budget The Canadian federal budget for fiscal year 1995–96

104-533: The maximum escalator rate is repealed but the escalation only considers GDP growth above 2% . EPF growth rate was further reduced by 1% in the 1989 budget resulting in additional savings of $ 200 million in 1990–91. The 1990 budget froze EPF per-capita entitlements through fiscal year 1991–92, a measure implemented by the Government Expenditure Restraint Act that received royal assent on 1 January 1991. A few weeks later Wilson announced in

117-481: The Liberal caucus), voted in favor like. One Liberal MP ( Warren Allmand ) voted against the budget, protesting budget cuts and was shortly thereafter relieved of his position as chair of the House of Commons Standing Committee on Justice. The bill received royal assent on 22 June 1995. Canada Social Transfer The Canada Social Transfer ( CST ) ( French : Transfert canadien en matière de programmes sociaux )

130-485: The program were tied to the growth in the national economy. The agreement was legislated through the Federal-Provincial Fiscal Arrangements and Established Programs Financing Act, 1977 which received royal assent on 31 March 1977. The EPF was subjected to multiple rounds of cuts since the mid 1980s, under both Liberal and Progressive-Conservative governments. Starting on 1 April 1983, EPF growth

143-570: Was announced prior to the budget announcement on February 15 by Art Eggleton , the President of the Treasury Board. The EMS aimes to implement a new results-based approach to public management and strict cost control. The 2 $ banknote is discontinued and replaced by a 2 $ coin starting in early 1996. Other administrative restructuring is also announced in the budget: The most dramatic cuts are related to subsidies to business organizations, with

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156-456: Was presented by Minister of Finance Paul Martin in the House of Commons of Canada on 27 February 1995. The budget is presented in a context of a fast-growing US economy and moderate inflation but a severe increase in interest rates that started in early 1994 dramatically increased public debt charges and in turn reduced budgetary margin for the Liberal government. The capital gains exemption

169-410: Was restricted to the lower of GDP growth and a maximum escalator rate of 6%. That rate was further lowered to 5% starting on 1 April 1984. In the 1985 federal budget , Finance Minister Michael Wilson announced a plan to limit the rate of the growth of EPF to save $ 2 billion by fiscal year 1990–91. The savings are achieved by modifying the escalation clause : for fiscal years 1986–87 through 1989–90

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