below = | previous _ bud get = 1 9 8 8 ▁Canadian ▁federal ▁budget | previous _ year = 1 9 8 8 | next _ bud get = 1 9 9 0 ▁Canadian ▁federal ▁budget | next _ year = 1 9 9 0 | country = Can ada | de pt _ payment = | de pt = | de bt _ to _ g dp = }} ▁ ▁The ▁Canadian ▁federal ▁budget ▁for ▁fis cal ▁year ▁ 1 9 8 9 – 1 9 9 0 ▁was ▁presented ▁to ▁the ▁House ▁of ▁Commons ▁of ▁Canada ▁by ▁fin ance ▁minister ▁Michael ▁Wilson ▁on ▁ 2 7 ▁April ▁ 1 9 8 9 . ▁It ▁was ▁the ▁first ▁budget ▁after ▁the ▁ 1 9 8 8 ▁Canadian ▁federal ▁election . ▁ ▁The ▁budget ▁set ▁the ▁stage ▁for ▁a ▁plan ▁to ▁eliminate ▁the ▁def ic it ▁within ▁three ▁years . ▁It ▁would ▁do ▁so ▁through ▁sp ending ▁cut s ▁and ▁raising ▁tax es . ▁▁ ▁Background ▁▁ ▁In ▁the ▁November ▁ 1 9 8 8 ▁election ▁campaign , ▁the ▁issue ▁of ▁the ▁deb t ▁and ▁the ▁def ic it ▁was ▁s eld om ▁raised . ▁However , ▁in ▁February ▁ 1 9 8 9 , ▁International ▁Mon er at ary ▁Fund ▁had ▁public ly ▁war ned ▁the ▁Canadian ▁government ▁that ▁its ▁Canadian ▁national ▁deb t ▁had ▁gone ▁out ▁of ▁control , ▁and ▁that ▁radical ▁measures ▁were ▁needed ▁to ▁cur b ▁the ▁def ic it . ▁At ▁the ▁time , ▁it ▁tot aled