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E-12.00002 - Balanced Budget Act

Section 7
Disposition versions

Full text
7. Where for a fiscal year a budget deficit recognized in the public accounts is greater than the revenues recorded in the Generations Fund for that year, the Minister must, in the first or second Budget Speech after the presentation of the public accounts, present a plan to return to a balanced budget of not more than five years commencing at the beginning of the fiscal year of the Budget Speech concerned.
The plan must present decreasing deficits and anticipate, for the fiscal year preceding the fiscal year of the return to a balanced budget, a deficit of 25% or less of the budget deficit referred to in the first paragraph.
2023, c. 30, s. 29.
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