Jim Flaherty Archives - Teaching Kids News

State Funeral For Former Finance Minister Jim Flaherty

Joyce Grant — Mon, 14 Apr 2014 01:15:58 +0000

A "state funeral" will be held in Toronto on Wednesday for Jim Flaherty.

Nancy Miller — Tue, 25 Mar 2014 00:29:23 +0000

In February, Jim Flaherty, Canada’s Minister of Finance, announced that the country’s finances were in good shape when he gave the 2014 budget.

Nancy Miller — Mon, 02 Apr 2012 01:58:09 +0000

Last week Canada’s Finance Minister, Jim Flaherty, spent $138.98 on a new pair of black dress shoes.

Why? Because he was announcing a new budget.

Flaherty is in charge of presenting Canada’s budget, which is why he bought the new shoes.

It’s a tradition in Canada that the Finance Minister wears new shoes to present the budget.

According to Wikipedia no one really knows why, but it’s something most Canadian Finance Ministers have done since the 1960s. It’s a tradition.

This year, the federal government structured its budget to reduce Canada’s annual deficit to zero by 2015.

A deficit happens when a government spends more than it collects in a year.