News Summary

• Historically, budget secrecy has been taken very seriously.
• In the U.K., any breach of budget secrecy could lead to the resignation of the chancellor of the exchequer.
• In Canada, our Parliamentary Convention has been less strict.
• Prior to budget day, many of the spending announcements — especially the larger ones — have been purposely ‘leaked’ or announced by the government of the day.
• Many new tax measures are also “strategically’ leaked to friendly journalists.