Cookbooks, Cartoons, and Corporate Plans: A Selection of Works from the History of the Department: Section 4: Budget 1998

T-shirt commemorating the 1998 Budget. Donated by Kevin Shoom. 

Department of Finance Canada. (1998). 1998 Budget. Ottawa: Department of Finance Canada. Library Reserve Collection HJ13 A29 1998.

Budget 1998

In 1998, Finance balanced the Budget for the first time in nearly thirty years and the 1998 Budget marked a significant milestone for the department. That year, all Finance employees were gifted a t-shirt with the design of a maple leaf and three zeros to commemorate the work that went into the Budget for that year. The t-shirt presented in the exhibition was donated by Kevin Shoom. As he relayed, the t-shirt was given to thank all employees for the hard work and dedication that went into the preparation of the budget. The t-shirt is presented alongside the 1998 Budget Speech and corresponding Budget documents, which provide context on the measures taken to reduce the deficit.

The 1998 Budget was produced under Finance Minister Paul Martin. In the Budget Speech, he discussed the government's commitment to supporting Canadians and noted that the Budget established a precedent for the future,

"Our goal must be to make Canada, not just a participant in the modern economy, but a world leader. A country which provides its citizens with access to the highest standard of living and the widest scope of opportunities possible.

Our responsibility as we go forward is very clear.

It is to balance the budget. But it is also to bring forth budgets that are balanced. 

It is to work to build not simply an economy of growth, but also to safeguard a society that is fair.

Our challenge today is to put our values to work in new ways for a new century.

It is also to turn opportunity for some into opportunity for all. 

Mr Speaker, that is what this budget seeks. That is what we will strive for in each and every year that lies ahead. For that is the foundation on which a great nation is built."

The Budget Speech echoes true today. It is not always possible to balance the Budget but any budget serves as a testament to the work of the department and is a continuation of the directive set out in Paul Martin's speech--to provide citizens with the highest standard of living and the widest scope of opportunities possible.