Editing Pierre Trudeau (section)

=== Economy and oil ===
In the government's first budget, delivered in October 1980 by Finance Minister Allan MacEachen (a long-time Trudeau loyalist), the [[National Energy Program]] (NEP) was introduced. One of the Liberals' most contentious policies, the NEP was fiercely protested by the Western provinces and was seen as unfairly depriving them of the full economic benefit of their oil and gas resources, in order to pay for nationwide social programs and make regional transfer payments to poorer parts of the country. Sentiments of this kind were especially strong in oil-rich [[Alberta]], where unemployment rose from 4% to 10% following passage of the NEP.<ref name="Stamp">{{cite encyclopedia |last=Stamp |first=Robert M. |title=Alberta (Economy section) |encyclopedia=The Canadian Encyclopedia |date=April 23, 2019 |publisher=Historica Canada |edition=online |url=https://www.thecanadianencyclopedia.ca/en/article/alberta}}</ref> The western provinces blamed the devastating oil bust of the 1980s on the NEP, which led to what many termed "[[Western alienation]]". Alberta premier Peter Lougheed entered into tough negotiations with Trudeau, reaching a revenue-sharing agreement on energy in 1982.{{sfn|Trudeau (1993)|p=?}} Estimates have placed Alberta's losses between $50&nbsp;billion and $100&nbsp;billion because of the NEP.<ref>{{cite journal |first = Mary Elizabeth |last = Vicente |title = The National Energy Program |journal = Canada's Digital Collections |publisher = Heritage Community Foundation |year = 2005 |url = http://www.abheritage.ca/abpolitics/events/issues_nep.html |access-date = April 26, 2008 |archive-date = April 24, 2005 |archive-url = https://web.archive.org/web/20050424231001/http://www.abheritage.ca/abpolitics/events/issues_nep.html |url-status = live }}</ref><ref>{{citation |first = Robert |last = Mansell |last2 = Schlenker |first2=Ron |last3 = Anderson |first3=John |title = Energy, Fiscal Balances and National Sharing |publisher = Institute for Sustainable Energy, Environment and Economy/[[University of Calgary]] |year = 2005 |url = http://www.iseee.ca/files/iseee/ISEEEResearchReportNov1805.pdf |access-date = April 26, 2008 |archive-url = https://web.archive.org/web/20080626113516/http://www.iseee.ca/files/iseee/ISEEEResearchReportNov1805.pdf <!-- Bot retrieved archive --> |archive-date = June 26, 2008 |url-status = dead }}</ref>

This first budget was one of a series of unpopular budgets delivered in response to the oil shock of 1979 and the ensuing [[early 1980s recession|severe global economic recession]] which began at the start of 1980.<ref name="BLS_Moy_1985">{{cite journal |last1=Moy |first1=Joyanna |year=1985 |title=Recent Trends in Unemployment and the Labor Force: 10 Countries |journal=Monthly Labor Review |volume=108 |issue=8 |pages=9–22 |url=http://www.bls.gov/opub/mlr/1985/08/art2full.pdf |access-date=February 20, 2020 |archive-date=September 28, 2020 |archive-url=https://web.archive.org/web/20200928163228/https://www.bls.gov/opub/mlr/1985/08/art2full.pdf |url-status=live }}</ref><ref name="independent_Hammes_2005">{{cite journal |title=Black Gold The End of Bretton Woods and the Oil-Price Shocks of the 1970s |first1=David |last1=Hammes |first2=Douglas |last2=Wills |journal=The Independent Review |volume=9 |number=4 |pages=501–511 |url=https://www.independent.org/pdf/tir/tir_09_4_2_hammes.pdf |date=2005 |issn=1086-1653 |jstor=24562081 |access-date=May 15, 2022 |archive-date=March 19, 2022 |archive-url=https://web.archive.org/web/20220319021952/https://www.independent.org/pdf/tir/tir_09_4_2_hammes.pdf |url-status=live }}</ref> In his budget speech, MacEachen said that the global oil price shocks— in [[1973 oil crisis|1973]] and again in [[1979 oil crisis|1979]] — had caused a "sharp renewal of inflationary forces and real income losses" in Canada and in the industrial world...They are not just Canadian problems&nbsp;... they are world-wide problems."<ref name="Budget_1980" /> Leaders of developed countries raised their concerns at the Venice Summit, at meetings of Finance Ministers of the [[International Monetary Fund]] (IMF) and the [[OECD|Organisation for Economic Co-operation and Development]] (OECD).<ref name="Budget_1980">{{citation |url=http://www.budget.gc.ca/pdfarch/1980-plan-eng.pdf |title=Budget 1980 |date=October 28, 1980 |access-date=January 27, 2015 |first=Allan J. |last=MacEachen |location=Ottawa, Ontario |publisher=Department of Finance Canada |archive-date=August 20, 2015 |archive-url=https://web.archive.org/web/20150820003334/http://www.budget.gc.ca/pdfarch/1980-plan-eng.pdf |url-status=dead }}</ref> The [[Bank of Canada]] wrote that there was a "deeply troubling air of uncertainty and anxiety" about the economy.<ref name="Budget_1980"/><ref name="Bank_of_Canada">{{citation |url=http://www.bankofcanada.ca/en/rates/inflation_calc.html |publisher=Bank of Canada |title=Inflation calculation |access-date=February 20, 2020 |archive-date=May 10, 2007 |archive-url=https://web.archive.org/web/20070510124111/http://www.bankofcanada.ca/en/rates/inflation_calc.html |url-status=dead }}</ref><ref name="canada_bubble">{{citation |url=http://canadabubble.com/charts/bank-of-canada-interest-rate-history.html |title=Bank of Canada Interest Rate History |work=Canada Bubble |access-date=May 15, 2022 |archive-date=July 8, 2011 |archive-url=https://web.archive.org/web/20110708113116/http://canadabubble.com/charts/bank-of-canada-interest-rate-history.html |url-status=live }}</ref><ref>"Uncertain Country." Canada: A People's History. CBC Television. Prod & Dir: Susan Dando. Aired: TVO: CICI, Toronto. January 10, 2005.</ref>

Amongst the policies introduced during Trudeau's last term in office were an expansion in government support for Canada's poorest citizens.<ref name="Penniman1988">{{cite book |last = Clarkson |first = Stephen |author-link = Stephen Clarkson |editor-last = Penniman |editor-first = Howard Rae |title = Canada at the Polls, 1984: A Study of the Federal General Elections |chapter-url = https://books.google.com/books?id=pC3wqzDBlCcC&pg=PA98 |access-date = November 28, 2014 |year = 1988 |publisher = Duke University Press |location = Durham, NC |isbn = 978-0-8223-0821-8 |pages = [https://archive.org/details/canadaatpolls1980000unse/page/98 98–99] |chapter = The Dauphin and the Doomed: John Turner and the Liberal Party's Debacle |lccn = 87027252 |url = https://archive.org/details/canadaatpolls1980000unse/page/98 }}</ref> By the time Trudeau left office in 1984, the budget deficit was at $37 billion (fiscal year [[1984 Canadian federal budget|1984–1985]]). Trudeau's first budget (fiscal year [[1968 Canadian federal budget|1968–1969]]) only had a deficit of $667 million. Inflation and unemployment marred much of Trudeau's tenure as prime minister. When Trudeau took office in 1968, Canada had a debt of $18&nbsp;billion (24% of GDP) which was largely left over from World War II. When he left office in 1984, that debt stood at $200&nbsp;billion (46% of GDP), an increase of 83% in real terms.<ref>{{cite web | url=http://www.csls.ca/data/ipt2006.pdf | title=GDP figures | publisher=Centre for the Study of Living Standards | date=2006 | access-date=January 25, 2018 | archive-date=October 6, 2006 | archive-url=https://web.archive.org/web/20061006013324/http://www.csls.ca/data/ipt2006.pdf | url-status=live }}</ref>