In this collection of essays leading Canadian policy analysts focus on a range of issues and implications arising from the 1997 federal budget. Essays include a comparative assessment of the Paul Martin and Michael Wilson budgets, an assessment of the emerging fiscal dividend and an evaluation of alternative ways in which it can be spent, a comprehensive overview of the proposed child benefits package, an in-depth examination of new proposals for both the Canada Pension Plan/Quebec Pension Plan and employment insurance, and an empirical review of the fiscal stance as it relates to employment...

When will the fiscal dividend appear and what is its likely magnitude? Should deficit targets be replaced by debt targets or debt/GDP targets? Should the fiscal dividend focus on tax cuts and increases in program expenditures? Should the Canadian government shift away from an annual deficit target to budget balance over the cycle to allow automatic stabilizers to play their important buffering role? And if so, what level of contingency reserve is necessary to ensure that cyclical budget balance can be met? Addressing these and other important questions, Fiscal Targets and Economic Growth...