Transcript: Ask an MPP/Duncan | Jul 21, 2021

A man in his fifties, clean-shaven and with short straight brown hair appears on screen. HE wears a midnight blue suit, a blue shirt and a striped blue tie.

He says A BUDGET DELIVERED IN THE
PROVINCIAL LEGISLATURE
OUTLINES THE GOVERNMENT'S
ENTIRE FISCAL PLAN,
AND TAX PLAN FOR A YEAR.
IT'S PRECEDED BY
A BUDGET MOTION,
WHICH HAS TO BE APPROVED BY
THE LEGISLATIVE ASSEMBLY
AND IS ALSO ACCOMPANIED BY
LEGISLATION TO GIVE EFFECT
TO THE IDEAS THE
GOVERNMENT BRINGS FORWARD.
THAT IS THE GUIDING
DOCUMENT IN TERMS OF WHAT
THE GOVERNMENT'S SPENDING
PRIORITIES ARE GOING TO BE
AND TAXING PRIORITIES.
IT ALSO HAS TO FOLLOW
A THRONE SPEECH.
SO IF THERE'S NO THRONE
SPEECH, YOU CAN'T DO A BUDGET.
A FALL ECONOMIC STATEMENT,
ON THE OTHER HAND,
IS SIMPLY AN UPDATE ON WHAT'S
BEEN DONE IN THE BUDGET
NORMALLY IT DOESN'T
CONTAIN TAX MEASURES.
NORMALLY IT DOESN'T
CONTAIN SPENDING MEASURES.
SOMETIMES THE GOVERNMENT
WILL UPDATE ASSUMPTIONS
THEY'VE MADE FOR THE
YEAR TO TRY AND CLARIFY
IF WE'RE ON TARGET OR IF
WE'RE NOT ON TARGET.
AND SO IT GIVES THE GOVERNMENT
THE OPPORTUNITY TO ADJUST
ITS BUDGETARY NUMBERS WITHOUT
ADJUSTING THE POLICIES.
FROM TIME TO TIME,
FINANCE MINISTERS WILL,
AS PART OF THE
FALL STATEMENT,
BRING IN LEGISLATION.
NORMALLY THERE'S A
FALL BUDGET BILL, THAT,
AGAIN, GIVES IMPLEMENTATION
TO THE BUDGET ITSELF.
SO THE FALL STATEMENT REALLY
UPDATES WHAT'S IN THE BUDGET.

Watch: Ask an MPP/Duncan