Timothy Huyer
@tim4hire.bsky.social
Absolutely no content, regardless whether original or retweeted, represents the views of any person or panda. He/him. Apanthropic. Canadian
I should probably point out, if it hasn't already been made clear by my timeline, that I really don't know anything
I should probably point out, if it hasn't already been made clear by my timeline, that I really don't know anything
Nevertheless, while the Budget is the key document on a Government's economic policy, it is in essence a policy document as opposed to a budget in the true sense of the word.
/fin
/fin
November 7, 2025 at 3:22 PM
Nevertheless, while the Budget is the key document on a Government's economic policy, it is in essence a policy document as opposed to a budget in the true sense of the word.
/fin
/fin
The Budget, however, does present some overall information, such as expectations for revenues and spending (and resulting fiscal balances, etc.), which is not as immediately discernible (if at all) from the other processes. So, there can be political consequences from not having one in a year.
21/
21/
November 7, 2025 at 3:21 PM
The Budget, however, does present some overall information, such as expectations for revenues and spending (and resulting fiscal balances, etc.), which is not as immediately discernible (if at all) from the other processes. So, there can be political consequences from not having one in a year.
21/
21/
Because a Budget is primarily a policy document, it is not necessary for it to be done annually, or even before the start of a fiscal year. The actual decisions on how much to spend and on what are made through separate processes (primarily, the Estimates).
20/
20/
November 7, 2025 at 3:18 PM
Because a Budget is primarily a policy document, it is not necessary for it to be done annually, or even before the start of a fiscal year. The actual decisions on how much to spend and on what are made through separate processes (primarily, the Estimates).
20/
20/
However, if it had been a standalone announcement, implementation might have been delayed on the basis that Parliament might have decided it wasn't as important a priority as other matters before it. Adding it to a Budget avoided that risk.
19/
19/
November 7, 2025 at 3:17 PM
However, if it had been a standalone announcement, implementation might have been delayed on the basis that Parliament might have decided it wasn't as important a priority as other matters before it. Adding it to a Budget avoided that risk.
19/
19/
An example of this would be that following the accession of King Charles III to the throne, a Budget was used to announce changes to the Royal Style and Titles. This was something that needed to be done and better sooner than later given that the Sovereign had changed.
18/
18/
November 7, 2025 at 3:15 PM
An example of this would be that following the accession of King Charles III to the throne, a Budget was used to announce changes to the Royal Style and Titles. This was something that needed to be done and better sooner than later given that the Sovereign had changed.
18/
18/
There can also be some measures where it is simply just expedient to use the Budget as the "vehicle" to announce and implement a measure. Budgets have the advantage of generally proceeding through Parliament without getting hung-up. Hence, it is useful if there is some urgency to a measure.
17/
17/
November 7, 2025 at 3:13 PM
There can also be some measures where it is simply just expedient to use the Budget as the "vehicle" to announce and implement a measure. Budgets have the advantage of generally proceeding through Parliament without getting hung-up. Hence, it is useful if there is some urgency to a measure.
17/
17/
The Minister of Finance, naturally, will also use the Budget to advance measures under Finance's mandate that don't necessarily involve the fiscal framework. For example, there are a number of measures in the Budget relating to financial institutions that fall under the Minister's mandate.
16/
16/
November 7, 2025 at 3:10 PM
The Minister of Finance, naturally, will also use the Budget to advance measures under Finance's mandate that don't necessarily involve the fiscal framework. For example, there are a number of measures in the Budget relating to financial institutions that fall under the Minister's mandate.
16/
16/
In other cases, it may be that there are political reasons for including them, such as that they may make the Budget more politically acceptable, or that any controvery relating to those measures would be lost in the larger noise of the Budget as a whole.
15/
15/
November 7, 2025 at 3:06 PM
In other cases, it may be that there are political reasons for including them, such as that they may make the Budget more politically acceptable, or that any controvery relating to those measures would be lost in the larger noise of the Budget as a whole.
15/
15/
It has also become common that Budgets will announce some measures that do NOT affect the fiscal framework. There can be a number of reasons for including these measures. Sometimes, it is because they are sufficiently related to fiscal measures that their incluion in the Budget may be expected.
14/
14/
November 7, 2025 at 3:04 PM
It has also become common that Budgets will announce some measures that do NOT affect the fiscal framework. There can be a number of reasons for including these measures. Sometimes, it is because they are sufficiently related to fiscal measures that their incluion in the Budget may be expected.
14/
14/
Budgets do typically announce almost all, if not all, tax and related revenue measures are being amended, as these will affect the fiscal framework. Again, there may be exceptions, including those in an Economic Statement and the odd one-off announcements.
12/
12/
November 7, 2025 at 3:02 PM
Budgets do typically announce almost all, if not all, tax and related revenue measures are being amended, as these will affect the fiscal framework. Again, there may be exceptions, including those in an Economic Statement and the odd one-off announcements.
12/
12/
Budgets typically do not announce when a sun-setting program is NOT renewed, as this is rarely good politics (renewals are typically announced, as this does involve a change in the fiscal framework). Some digging may be required to figure out which sun-setting programs were not renewed.
12/
12/
November 7, 2025 at 3:00 PM
Budgets typically do not announce when a sun-setting program is NOT renewed, as this is rarely good politics (renewals are typically announced, as this does involve a change in the fiscal framework). Some digging may be required to figure out which sun-setting programs were not renewed.
12/
12/
Other decisions may be "sun-setters" in that the funding expires after a particular period of time. This can be funding for a particular project (e.g., high-speed rail), or where the Government will want to review and potentially adjust the program after a period of time.
11/
11/
November 7, 2025 at 2:56 PM
Other decisions may be "sun-setters" in that the funding expires after a particular period of time. This can be funding for a particular project (e.g., high-speed rail), or where the Government will want to review and potentially adjust the program after a period of time.
11/
11/
For the funding decisions, some are for indefinite measures (e.g., a new, long-term decision, such as increasing the number and pay for the Canadian Armed Forces).
10/
10/
November 7, 2025 at 2:55 PM
For the funding decisions, some are for indefinite measures (e.g., a new, long-term decision, such as increasing the number and pay for the Canadian Armed Forces).
10/
10/
Very little detail is included on ongoing spending where the policy on these matters has not changed. Details on that tend to be found elsewhere, although there are arguments that this may not be as transparent as some would like.
9/
9/
November 7, 2025 at 2:53 PM
Very little detail is included on ongoing spending where the policy on these matters has not changed. Details on that tend to be found elsewhere, although there are arguments that this may not be as transparent as some would like.
9/
9/
Thus, the contents of the Budget are announcements regarding *changes* to the fiscal framework. That is, the Budget announces policy decisions that lead to new spending, or sometimes changes in when spending will occur, as well as policy decisions that change revenues or how revenues occur.
8/
8/
November 7, 2025 at 2:51 PM
Thus, the contents of the Budget are announcements regarding *changes* to the fiscal framework. That is, the Budget announces policy decisions that lead to new spending, or sometimes changes in when spending will occur, as well as policy decisions that change revenues or how revenues occur.
8/
8/
There are also occasional one-offs, where a decision may be made and announced outside of any Budget or Economic Statement.
But, for the most part, these are exceptions.
7/
But, for the most part, these are exceptions.
7/
November 7, 2025 at 2:48 PM
There are also occasional one-offs, where a decision may be made and announced outside of any Budget or Economic Statement.
But, for the most part, these are exceptions.
7/
But, for the most part, these are exceptions.
7/
Of course, there are proposals where it isn't desirable to wait for the next Budget cycle to decide if they should be funded/proceed. In many cases, they may be considered as part of a "mini-Budget" (as they used to happen in the Fall, they were typically called Fall Economic Statements).
6/
6/
November 7, 2025 at 2:47 PM
Of course, there are proposals where it isn't desirable to wait for the next Budget cycle to decide if they should be funded/proceed. In many cases, they may be considered as part of a "mini-Budget" (as they used to happen in the Fall, they were typically called Fall Economic Statements).
6/
6/
This is because when you consider a number of proposals at the same time, you can rank them so that only the best ones get "funded". Thus, there is better control over the fiscal framework and less risk that good proposals can't proceed because money was already applied to less-good proposals.
5/
5/
November 7, 2025 at 2:45 PM
This is because when you consider a number of proposals at the same time, you can rank them so that only the best ones get "funded". Thus, there is better control over the fiscal framework and less risk that good proposals can't proceed because money was already applied to less-good proposals.
5/
5/
Most of these decisions are taken place in the context of a Budget cycle. Part of the reason for this is that it may be convenient/good politics to announce them this way. But another part is that this allows for better prioritizations as to which proposals should go forward.
4/
4/
November 7, 2025 at 2:42 PM
Most of these decisions are taken place in the context of a Budget cycle. Part of the reason for this is that it may be convenient/good politics to announce them this way. But another part is that this allows for better prioritizations as to which proposals should go forward.
4/
4/
In particular, whenever a decision affects "the fiscal framework", i.e., requires a change in spending and/or revenues, the Minister of Finance and the Prime Minister are the key decision makers (while the decisions can end up going to Cabinet, other ministers must either agree or resign).
3/
3/
November 7, 2025 at 2:38 PM
In particular, whenever a decision affects "the fiscal framework", i.e., requires a change in spending and/or revenues, the Minister of Finance and the Prime Minister are the key decision makers (while the decisions can end up going to Cabinet, other ministers must either agree or resign).
3/
3/
The Government (i.e., Cabinet) makes lots of policy decisions over the course of the year. Often, these decisions are first considered in a Cabinet Committee, before being ratified by a larger Cabinet meeting. However, special processes apply to certain decisions.
2/
2/
November 7, 2025 at 2:36 PM
The Government (i.e., Cabinet) makes lots of policy decisions over the course of the year. Often, these decisions are first considered in a Cabinet Committee, before being ratified by a larger Cabinet meeting. However, special processes apply to certain decisions.
2/
2/