March 27, 2000

Documentation of government's budget plan has been prepared by Treasury Board Staff based on the direction of the Minister of Finance and Treasury Board.

The revenue, expenditure, deficit and debt estimates included in the budget plan have been developed by professionals on my staff in consultation with staff in ministries and in the Crown corporations.

The "Economic Review and Outlook" (Report A) in this document includes a summary of the advice received from the Economic Forecast Council at their January 27, 2000 meeting, and the range of economic forecasts provided for the 2000 and 2001 calendar years.

The major economic, demographic, accounting policy and other assumptions that underpin the revenue, expenditure, deficit and debt forecasts, have been disclosed in Report A and the "Fiscal Review and Outlook" (Report B) of this document. The material financial risks associated with changes to these assumptions have also been disclosed in Report B.

Disclosure of the adjustment to the most likely forecast of the deficit is found in the "Fiscal Review and Outlook" (Report B).

Disclosure in future years will continue to improve as we work to implement the provisions of the Budget Transparency and Accountability Act.