The Canadian federal budget for the 2008–09 fiscal year was presented to the House of Commons of Canada by Finance Minister Jim Flaherty on February 26, 2008.

In addition, the government announced the creation of a new independent crown corporation to administer the Employment Insurance System while gas tax rebate fund to the cities was made permanent.

The NDP argued that the budget failed to address the need for average workers while the winners were banks, polluting industries and the well-off.

[11] Canadian Taxpayers Federation director John Williamson mentioned and applauded that the registered savings plan was "very good" for the middle class.

Economist Andrew Jackson, from the Canadian Labour Congress, mentioned however that the plan will give little to the average worker while Don Scott, a taxation specialist, added that the program may incite some investors to contribute less to their RRSP.

The creation of the new savings account also had positive reviews from several Canadian newspapers including Le Devoir, La Presse, The Globe and Mail and the National Post.

[12] Aaron Freeman, policy director for the Environmental Defence, criticized the government for having no clear direction on the environment making reference to the suspension after 2008 of the tax-rebate program on fuel-efficient vehicles but praised the funding for transit and for the protection of consumers from toxins in products.