Jim Flaherty lowered his outlook for this year’s deficit to $16.6-billion from the $17.9-billion estimate in his November fiscal update. For 2014-15, the shortfall forecast has been lowered to $2.9-billion from $5.5-billion. At the same time, the minister has raised his surplus target for 2015-16 to $6.4-billion from $3.7-billion.

In the coming years, that surplus is projected to grow steadily before reaching $10.3-billion in 2018-19, the government’s current forecast horizon. “It’s been a long road back from the Great Recession to a balanced budget,” he said.

Here are 10 other things you need to know about the federal budget: – HERE