The Government is fulfilling its promise to balance the budget in 2015 , pursuant to its long - standing commitment to responsible fiscal management . Economic Action Plan 2015 will see the budget b alanced and Canadians can rest assured that Canada’s fiscal house is in order . Under the Government’s Economic Action Plan, the deficit has been reduced from $55.6 billion at the height of the global economic and financial crisis to a projected surplus of $ 1.4 billion for 2015 – 16 (Chart 1.1 ). Canada’s Economic Action Plan ha s been underpinned by prudent fiscal management and the Government’s low - tax pla n for ... (full story)