The Start of The Year For The Minister Of Finance

There are a lot of people that have begun to set their New Year’s resolutions as we have talked about in previous posts. Most individuals want to start the New Year with a fresh start. This year is unique for us Canadians as we are starting the New Year with a new government.

This year we went through the election and it went on for some period of time, however, we were far more keenly interested in hearing what all of the candidates had to say prior to making our decision of who we were going to put into office.

During that time we heard many different promises and plans of what the future of Canada would be depending on the politicians that were running for office. Our ultimate decision came down to the Liberals putting Prime Minister Trudeau into office.

It wasn’t long before he chose all those that would be fulfilling the promises that he had given in his platform. For us as average citizens we often forget about the totality of the promises and focus on those that are most important to us. Naturally in most cases our finances are a priority and anything in the election platform that had to do with finances drew our interest.

Post election we were most interested in who was going to become the Minister of Finance as this is the individual that is going to be responsible for making sure that a good bulk of Mr. Trudeau’s promises are put into action as promised.

The Minister responsible for this now is Mr. Morneau. It makes one wonder if Mr. Morneau when accepting this position knew exactly just what his mandate was going to be. No doubt he had a good idea but if there was any doubt, upon receiving a letter from Mr. Trudeau these were put to rest.

There are 27 specific points that are covered in this letter that Mr. Morneau has the responsibility of attending to. The letter itself is most impressive as it outlines and summarizes every key point that Mr. Trudeau brought to the public through his election campaign. It shows his intentions and his expectations that he is placing on this new Minister of Finance. There are some important key points that Mr. Trudeau has outlined, to bring real change both in what the government does and how they do it.

  • The focus is being a point on the growing middle class. Investment in growing the economy
  • Strengthening the middle-middle class
  • More help to those who need it and less to those who do not
  • Spur economic growth
  • Job creation
  • Transparent fiscal plan

Throughout the letter Mr. Trudeau outlines what his expectations are. He expects the Finance Minister to report regularly on his progress towards fulfilling all of the mandate. This letter basically says it all and is something that outlines what the proposed next year at least is going to look like for Canadians. Basically It covers aspects that are out of our control and in the hands of the government. It is important to take a close look at each of the areas of responsibility that have been put on this new Minister and how they will affect us. With there being a so many decided that we will break this down into a series for this week so that we can understand it better.

Share Your Thoughts!


Sam Seidman, CPA, CA, LPA
629 Sheppard Avenue West
Toronto, Ontario
M3H 2S3

Telephone: (416) 398-1700
Fax: (416) 398-6226

Chartered Professional Accountant, Chartered Accountant, Licensed Public Accountant


Contact Sam today

The information provided here and throughout the site of TorontoAccountant.CA is intended for general tax information only, and should not be misconstrued as a legal source of information regarding your tax situation, or be used for any other purposes other than for general information.
Sam Seidman, Chartered Accountant - Copyright ©2013. All Rights Reserved.