Finance Minister Jim Flaherty restated his fondness for market forces, but otherwise made no real mention of the film and television industries in his latest budget, tabled Monday afternoon in Ottawa.

The second budget of the Tory government stressed debt reduction and payments to the provinces and territories, and will ‘strengthen the federation by restoring much-needed fiscal balance,’ said Flaherty. ‘Canadians come out ahead through real tax relief that benefits working families.’

The 478-page document includes only a few nods towards the Department of Canadian Heritage — earmarking $30 million per year for local arts and heritage festivals, funding for museums, sports such as lacrosse and the creation of a national trust, similar to that of the U.K., to protect significant lands, buildings and other ‘national treasures.’ The Tories renewed the government’s commitment to the Canadian Television Fund in January, pledging $200 million over two years via Heritage.

The budget goes on to note that the Tories are rethinking Canada’s competition policies, in particular the choice between regulation and free markets, a subject of much speculation as the CRTC prepares to review its policies on mega-media buyouts such as the impending deals for Alliance Atlantis and CHUM. The budget notes that the CRTC has been told to rely on market forces ‘as much as possible’ when making regulatory decisions, and says an independent review of the government’s competition policies is expected before the 2008 budget.