May 1974 Canadian Federal Budget
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May 1974 Canadian Federal Budget
The May 1974 Canadian federal budget was presented by Minister of Finance John Turner in the House of Commons of Canada on 6 May 1974. It was meant to serve as the federal budget for fiscal year 1974–1975, but it was never implemented as the government was defeated in a vote of confidence before it was adopted. The NDP, which had been propping up Pierre Trudeau’s minority government for the past two years, withdrew their support because they were displeased with the content of this budget. This paved the way for the 1974 Canadian federal election The 1974 Canadian federal election was held on July 8, 1974, to elect members of the House of Commons of Canada of the 30th Parliament of Canada. The governing Liberal Party was reelected, going from a minority to a majority government, and ga ..., in which Trudeau's Liberal Party won with a majority of the seats. The budget saw the inception of the Registered Home Ownership Savings Plan. External links Budget SpeechBudget ...
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29th Canadian Parliament
The 29th Canadian Parliament was in session from January 4, 1973, until May 9, 1974. The membership was set by the 1972 federal election on October 30, 1972, and it was dissolved prior to the 1974 election. It was controlled by a Liberal Party minority led by Prime Minister Pierre Trudeau and the 20th Canadian Ministry, with the support of David Lewis's New Democratic Party. The Official Opposition was the Progressive Conservative Party, led by Robert Stanfield. The Speaker was Lucien Lamoureux. The government lost the confidence of the house in 1974 when finance minister John Turner's budget was defeated by a vote of 137 to 123, prompting the prime minister to seek dissolution of parliament for the next election. There were two sessions of the 29th Parliament. The first was from January 4, 1973, to February 26, 1974, and the second was from February 27 to May 9, 1974. Members of the House of Commons Members of the House of Commons in the 29th parliament arranged by provi ...
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Liberal Party Of Canada
The Liberal Party of Canada (french: Parti libéral du Canada, region=CA) is a federal political party in Canada. The party espouses the principles of liberalism,McCall, Christina; Stephen Clarkson"Liberal Party". ''The Canadian Encyclopedia''. and generally sits at the centre to centre-left of the Canadian political spectrum, with their rival, the Conservative Party, positioned to their right and the New Democratic Party, who at times aligned itself with the Liberals during minority governments, positioned to their left. The party is described as "big tent",PDF copy
at UBC Press.
practising "brokerage politics", attracting support from a broad spectrum of voters. The Liberal Party is the longest-serving and oldest active federal political party in the country, and has dominated federal

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John Turner
John Napier Wyndham Turner (June 7, 1929September 19, 2020) was a Canadian lawyer and politician who served as the 17th prime minister of Canada from June to September 1984. He served as leader of the Liberal Party of Canada and leader of the Official Opposition from 1984 to 1990. Turner practised law before being elected as a member of Parliament in the 1962 federal election. He served in the cabinet of Prime Minister Pierre Trudeau as minister of justice and attorney general from 1968 to 1972, and minister of finance from 1972 to 1975. As a cabinet minister, Turner came to be known as a leader of the Business Liberal faction of the Liberal Party. Amid a global recession and the prospect of having to implement unpopular wage and price controls, Turner resigned from his position in 1975. From 1975 to 1984, Turner took a hiatus from politics, working as a corporate lawyer on Bay Street. Trudeau's resignation in 1984 triggered a leadership election, in which Turner succe ...
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Minister Of Finance (Canada)
The minister of finance (french: ministre des Finances) is the minister of the Crown in the Canadian Cabinet who is responsible for overseeing the Department of Finance and presenting the federal government's budget each year. It is one of the most important positions in the Cabinet. Chrystia Freeland serves as the 40th and current finance minister, assuming the role in August 2020 following the resignation of Bill Morneau. She concurrently serves as the deputy prime minister of Canada. Because of the prominence and responsibility of this cabinet position, it is not uncommon for former ministers of finance to later become prime minister. Charles Tupper, R. B. Bennett, John Turner, Jean Chrétien, and Paul Martin all became prime minister after previously serving as minister of finance. Responsibilities In addition to being the head of the Department of Finance, the minister of finance is also the minister responsible for: *Bank of Canada *Canada Deposit Insurance Corpor ...
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House Of Commons Of Canada
The House of Commons of Canada (french: Chambre des communes du Canada) is the lower house of the Parliament of Canada. Together with the Crown and the Senate of Canada, they comprise the bicameral legislature of Canada. The House of Commons is a democratically elected body whose members are known as members of Parliament (MPs). There have been 338 MPs since the most recent electoral district redistribution for the 2015 federal election, which saw the addition of 30 seats. Members are elected by simple plurality ("first-past-the-post" system) in each of the country's electoral districts, which are colloquially known as ''ridings''. MPs may hold office until Parliament is dissolved and serve for constitutionally limited terms of up to five years after an election. Historically, however, terms have ended before their expiry and the sitting government has typically dissolved parliament within four years of an election according to a long-standing convention. In any case, an ac ...
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New Democratic Party
The New Democratic Party (NDP; french: Nouveau Parti démocratique, NPD) is a federal political party in Canada. Widely described as social democratic,The party is widely described as social democratic: * * * * * * * * * * * * the party occupies the left, to centre-left on the political spectrum, sitting to the left of the Liberal Party. The party was founded in 1961 by the Co-operative Commonwealth Federation (CCF) and the Canadian Labour Congress (CLC). The federal and provincial (or territorial) level NDPs are more integrated than other political parties in Canada, and have shared membership (except for the New Democratic Party of Quebec). The NDP has never won the largest share of seats at the federal level and thus has never formed government. From 2011 to 2015, it formed the Official Opposition, but apart from that, it has been the third or fourth-largest party in the House of Commons. However, the party has held considerable influence during periods o ...
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Pierre Trudeau
Joseph Philippe Pierre Yves Elliott Trudeau ( , ; October 18, 1919 – September 28, 2000), also referred to by his initials PET, was a Canadian lawyer and politician who served as the 15th prime minister of Canada The prime minister of Canada (french: premier ministre du Canada, link=no) is the head of government of Canada. Under the Westminster system, the prime minister governs with the Confidence and supply, confidence of a majority the elected Hou ... from 1968 to 1979 and from 1980 to 1984. He also briefly served as the Leader of the Opposition (Canada), leader of the Opposition from 1979 to 1980. He served as leader of the Liberal Party of Canada from 1968 to 1984. Trudeau was born and raised in Montreal, Quebec; he rose to prominence as a lawyer, intellectual, and activist in Quebec politics. Although he aligned himself with the social democratic New Democratic Party, he felt that they could not achieve power, and instead joined the Liberal Party. He was e ...
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1974 Canadian Federal Election
The 1974 Canadian federal election was held on July 8, 1974, to elect members of the House of Commons of Canada of the 30th Parliament of Canada. The governing Liberal Party was reelected, going from a minority to a majority government, and gave Prime Minister Pierre Trudeau his third term. The Progressive Conservatives, led by Robert Stanfield, did well in the Atlantic provinces, and in the West, but the Liberal support in Ontario and Quebec ensured a majority Liberal government. Overview The previous election had resulted in the Liberals emerging as the largest party, but far short of a majority, and only two seats ahead of the Progressive Conservatives. They were able to form a government with the support of the New Democratic Party, but the NDP withdrew their backing in May 1974 and voted with the Progressive Conservatives to bring down Trudeau's government in protest of a budget proposed by finance minister John Turner, which the opposition parties felt did not go far ...
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Canadian Budgets
Canadians (french: Canadiens) are people identified with the country of Canada. This connection may be residential, legal, historical or cultural. For most Canadians, many (or all) of these connections exist and are collectively the source of their being ''Canadian''. Canada is a multilingual and multicultural society home to people of groups of many different ethnic, religious, and national origins, with the majority of the population made up of Old World immigrants and their descendants. Following the initial period of French and then the much larger British colonization, different waves (or peaks) of immigration and settlement of non-indigenous peoples took place over the course of nearly two centuries and continue today. Elements of Indigenous, French, British, and more recent immigrant customs, languages, and religions have combined to form the culture of Canada, and thus a Canadian identity. Canada has also been strongly influenced by its linguistic, geographic, and e ...
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1974 In Canadian Law
Major events in 1974 include the aftermath of the 1973 oil crisis and the resignation of President of the United States, United States President Richard Nixon following the Watergate scandal. In the Middle East, the aftermath of the 1973 Yom Kippur War determined politics; following List of Prime Ministers of Israel, Israeli Prime Minister Golda Meir's resignation in response to high Israeli casualties, she was succeeded by Yitzhak Rabin. In Europe, the Turkish invasion of Cyprus, invasion and occupation of northern Cyprus by Turkey, Turkish troops initiated the Cyprus dispute, the Carnation Revolution took place in Portugal, and Chancellor of Germany, Chancellor of West Germany Willy Brandt resigned following an Guillaume affair, espionage scandal surrounding his secretary Günter Guillaume. In sports, the year was primarily dominated by the 1974 FIFA World Cup, FIFA World Cup in West Germany, in which the Germany national football team, German national team won the championshi ...
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1974 Government Budgets
Major events in 1974 include the aftermath of the 1973 oil crisis and the resignation of United States President Richard Nixon following the Watergate scandal. In the Middle East, the aftermath of the 1973 Yom Kippur War determined politics; following Israeli Prime Minister Golda Meir's resignation in response to high Israeli casualties, she was succeeded by Yitzhak Rabin. In Europe, the invasion and occupation of northern Cyprus by Turkish troops initiated the Cyprus dispute, the Carnation Revolution took place in Portugal, and Chancellor of West Germany Willy Brandt resigned following an espionage scandal surrounding his secretary Günter Guillaume. In sports, the year was primarily dominated by the FIFA World Cup in West Germany, in which the German national team won the championship title, as well as The Rumble in the Jungle, a boxing match between Muhammad Ali and George Foreman in Zaire. Events January–February * January 26 – Bülent Ecevit of CHP forms the ...
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