2014 Canadian federal budget
| Presented | 11 February 2014 |
|---|---|
| Parliament | 41st |
| Party | Conservative |
| Finance minister | Jim Flaherty |
| Total revenue | 276.3 billion(requested) |
| Total expenditures | 279.2 billion(requested) |
| Surplus | 1.9 billion(actual) |
| Deficit | 2.9 billion(requested) |
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The Canadian federal budget for fiscal year 2014–2015 was presented to the Canadian House of Commons by Jim Flaherty on 11 February 2014. This was the last budget presented by the Finance Minister before his resignation in March and death in April.
The budget cut C$3,100,000,000 from the Department of National Defence budget allocated for procurement of equipment via the Canada First Defence Strategy. Flaherty stated the funds will be restored in the future when "key purchases will be made".
The government plans to establish the National Disaster Mitigation Program, which it will begin funding in the 2015–2016 fiscal year in the 2015 budget. The program "will invest in structural mitigation projects" and provide residential flood insurance in conjunction with provincial, territorial, and private insurance plans.
The budget will establish the Canada First Research Excellence Fund, which will receive $50 million in the 2015–2016 fiscal year for research funding at post-secondary institutions. Four grant councils, including the Canadian Institutes of Health Research and the Natural Sciences and Engineering Research Council, will receive a combined $46 million annually.
The proposed budget will increase excise taxes on cigars, cigarettes, chewing tobacco, and tobacco sticks, and will also impose a tax increase on duty-free tobacco products. Flaherty stated that the increase was to account for the effects of inflation since 2002, will be indexed to inflation every five years, and will take effect 12 February 2014. The budget allocates $92 million of tobacco tax revenues over five years to establish the Geospatial Intelligence and Automated Dispatch Centre and to install sensors to detect movement of contraband tobacco products in high-risk areas.
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