| Presented | 16 November 1978 |
|---|---|
| Parliament | 30th |
| Party | Liberal |
| Finance minister | Jean Chrétien |
| Total revenue | 43.310 billion [1] |
| Total expenditures | 55.277 billion [1] |
| Deficit | $11.967 billion[1] |
1979 › | |
The Canadian federal budget for fiscal year 1979-1980 was presented by Minister of Finance Jean Chrétien in the House of Commons of Canada on 16 November 1978.[2]
The budget follows the announcement by Prime Minister Pierre Trudeau of a $2-billion spending cuts package on 1 August 1978. Details for $1.5-billion of the cuts were released on 16 August 1978 and affected more than 100 federal programs and many organisms including the Department of National Defence ($150-million), the CBC ($71-million), the Canadian International Development Agency ($133-million) and many other federal institutions. Construction of a heavy water plant in La Prade (Quebec) was immediately suspended to generate $150-million in savings.[3]