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Macleans

Martin's 1999 Budget

"I wasn't sure if he was running for leader of the party or president of Cuba," one Liberal backbencher whispered as Finance Minister Paul Martin wrapped up his one-hour, 20-minute budget speech to Parliament last week.

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Toronto Star

Founded in 1892, the Toronto Star (originally the Evening Star and later the Toronto Daily Star) grew under the direction of Joseph E. Atkinson, who became editor and manager of the newspaper in 1899. The newspaper was officially named the Toronto Star in 1971. As of April 2015, the Toronto Star is Canada’s largest daily newspaper.

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VIA Rail Canada Inc.

In 1981 VIA cancelled or reduced numerous routes in an attempt to make passenger service more efficient. Services in parts of the country were seriously affected and the Liberal government was widely criticized. A nonconfidence vote over the issue in October 1981 was won by the government.

Macleans

Dollar Falls

In Quebec, they call it referendum fever. And of all those who fell into its grip last week, perhaps no one was more surprised than René Lepage, director of the community health clinic in the lower St. Lawrence River town of Matane.

Macleans

Martin's 1995 Budget

This article was originally published in Maclean’s magazine on March 13, 1995. Partner content is not updated.

A few minutes before Finance Minister Paul Martin was to deliver his budget speech in the House of Commons last week, he and Prime Minister Jean Chrétien met in Chrétien's second-floor office on Parliament Hill along with Martin's wife, Sheila, and Aline Chrétien.

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Northern Gateway Pipeline Proposal

The $7.9 billion Northern Gateway project was a pipeline proposal that Enbridge put forward in 2008. Northern Gateway would have carried diluted bitumen (“dilbit”) about 1,170 km from Bruderheim, Alberta to a terminal on the Pacific Ocean at KitimatBritish Columbia. Enbridge claimed that the project would create $1.2 billion in tax revenue for BC, as well as 560 jobs. The Federal Court of Appeal overturned the pipeline’s approval in 2016. That same year, the Liberal government of Prime Minister Justin Trudeau rejected the project.

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Political Party Financing in Canada

The financial activities of political parties in Canada were largely unregulated until the Election Expenses Act was passed in 1974. Canada now has an extensive regime regulating federal political party financing; both during and outside of election periods. Such regulation encourages greater transparency of political party activities. It also ensures a fair electoral arena that limits the advantages of those with more money. Political parties and candidates are funded both privately and publicly. Election finance laws govern how parties and candidates are funded; as well as the ways in which they can spend money. (See also Canadian Electoral System.)

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Carbon Pricing in Canada

Carbon pricing refers to a cost that is imposed on the combustion of fossil fuels used by industry and consumers. Pricing can be set either directly through a carbon tax or indirectly through a cap-and-trade market system. A price on carbon is intended to capture the public costs of greenhouse gas (GHG) emissions and shift the burden for damage back to the original emitters, compelling them to reduce emissions. In 2016, Prime Minister Justin Trudeau announced a national climate change policy that includes a system of carbon pricing across Canada. Provinces can either create their own systems to meet federal requirements or have a federal carbon tax imposed on them. Nine provinces and territories have their own carbon pricing plans that meet federal requirements. Ottawa has imposed its own carbon tax in Alberta, Saskatchewan, Manitoba and Ontario.

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Global Affairs Canada (GAC)

Global Affairs Canada (GAC) was originally founded as the Department of External Affairs in 1909 by Prime Minister Sir Wilfrid Laurier. The operations, mandate and title of the department have evolved over the years. Although legally incorporated as the Department of Foreign Affairs, Trade and Development, its public designation since 2015 has been Global Affairs Canada.  The department is responsible for overseeing Canada’s international engagement, including diplomatic relations, providing consular services, promoting international trade and international law, and leading Canada’s international development and humanitarian assistance.

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Radical Economics

Originally the word "radical" meant relentlessly seeking the root of a problem and not shrinking from the action that follows as a logical consequence of its findings. More popularly, it denotes a sharp departure from conventional, orthodox interpretations of reality.

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Canopy Growth Corporation

Canopy Growth Corporation was the first cannabis company in North America to be federally regulated and publicly traded. The Canadian company, headquartered in Smiths Falls, Ontario, produces a large portion of Canada’s legal cannabis flower, oils and edibles under its various brands. Its products are sold in all 13 Canadian provinces and territories. With more than two dozen subsidiaries and operations on five continents, Canopy is one of the world’s largest cannabis and hemp corporations. It employs 2,700 people full-time and is worth more than $20 billion.

Macleans

Martin's 1996 Budget

This article was originally published in Maclean’s magazine on March 18, 1996. Partner content is not updated.

If Martin has his way, there will be one more budget - if only because he could then announce the virtual elimination of the federal deficit by the turn of the century.

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TC Energy (formerly TransCanada)

TC Energy Corporation (formerly TransCanada Corporation) is a natural gas, oil and power-generation company headquartered in Calgary, Alberta. TC Energy owns more than 92,600 km of natural gas pipeline in North America and transports more than 25 per cent of the gas consumed on the continent. It also operates power plants and gas storage facilities. A public company, it trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol TRP. In 2018, TC Energy registered $13.7 billion in revenue and $3.5 billion in profit and held $98.9 billion in assets. The company employs about 7,300 people, more than half of them in Canada.

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Reciprocity

Reciprocity was a free trade agreement between the United States and Canada. It mutually reduced import duties and protective tariffs on certain goods exchanged between the two countries. It was in effect from 1854 to 1866 and was controversial at times on both sides of the border. It was replaced in 1878 by the Conservative Party’s protectionist National Policy. It involved levying tariffs on imported goods to shield Canadian manufacturers from American competition. A narrower reciprocity agreement was introduced in 1935 and expanded in 1938. However, it was suspended in 1948 after both countries signed the General Agreement on Tariffs and Trade (GATT).

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Canada Pension Plan

The Canada Pension Plan (CPP) is an earnings-related public pension plan. The CPP makes a monthly payment to Canadians and their families to partially replace their income after retirement, disability or death. Working Canadians make regular contributions to the CPP in order to be eligible. The CPP covers all Canadian workers except those in Quebec who are covered by the parallel Quebec Pension Plan (QPP). The Canada Pension Plan Investment Board (CPPIB) manages CPP assets, making it one of the largest pension fund managers in the world. As of 31 March 2021, CPPIB ended its 2021 fiscal year with net assets of 497.2 billion.

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Canada and NAFTA

The North American Free Trade Agreement (NAFTA) was an economic free trade agreement between Canada, the United States and Mexico. Designed to eliminate all trade and investment barriers between the three countries, the free trade agreement came into force on 1 January 1994. In addition to being one of the most ambitious trade agreements in history, NAFTA also created the world’s largest free trade area. It brought together two wealthy, developed countries (Canada and the United States) with a less developed state (Mexico). The agreement built on the earlier Canada-US Free Trade Agreement (CUSFTA), which came into effect on 1 January 1989. After NAFTA was signed, trade and investment relations between the three countries expanded rapidly, but political co-operation remained weak. NAFTA continued to be controversial, particularly in the United States. In 2017, US president Donald Trump threatened to renegotiate or cancel the deal. More than a year of negotiations produced a revised version of NAFTA called the Canada-United States-Mexico Agreement (CUSMA). CUSMA came into effect on 1 July 2020.