本文发表在 rolia.net 枫下论坛Ottawa posts much smaller budget surplus after GST cut, spending boosts KEVIN CARMICHAEL
September 27, 2008
OTTAWA -- Canada's budget surplus is shrinking, reflecting Prime Minister Stephen Harper's decision to cut taxes and boost spending rather than run up the huge fiscal cushions that became the norm under Liberal governments.
The federal government recorded a surplus of $2.9-billion in the first four months of the current fiscal year, much less than the $6.7-billion surplus registered over the same period a year ago, but in line with the projections in Finance Minister Jim Flaherty's February budget.
Mr. Harper's decision to drop the goods and services tax to 5 per cent from 6 per cent at the start of the year has so far cost the federal treasury $1-billion in the fiscal year that started on April 1, according to a report released by the Finance Department yesterday.
Program spending is 8 per cent higher in the current fiscal year compared with the same period in 2007, for a total gain of $4.9-billion, reflecting increased transfers to the provinces for health care and education.
Defence spending was $5.6-billion in the four months through July, an 8.8 per cent jump from a year earlier.
The state of Canada's finances are getting a regular airing in the campaign for the Oct. 14 election as Mr. Harper's Conservatives try to position themselves as best suited to steward the economy through uncertain times. The Tory Leader's opponents, meanwhile, say Conservative policies are partly to blame for the weakest economic growth since the 1991 recession.
Mr. Harper used the Finance Department's latest budget figures to trumpet his government's management of the country's finances, issuing a statement in Calgary that the report shows the government is "ahead of schedule" in fulfilling its February pledge to post a "modest surplus."
In his February budget, Mr. Flaherty predicted a surplus in the fiscal year ending March 31, 2009, of $2.3-billion after an estimated surplus of $10.2-billion in the previous fiscal year.
Canada's economy contracted in the first quarter of 2008 and rebounded somewhat in the next three months, posting an annual growth rate of 0.3 per cent. That means Canada's growth rate in 2008 won't be anywhere near the 1.7 per cent pace Mr. Flaherty used as a basis for his budget.
Mr. Flaherty cut his 2008 forecast to 1.1 per cent in August. The Wall Street financial crisis could force him to reduce that estimate again, although few economists say Canada is in danger of slipping into a recession.
Mr. Harper's press release yesterday focused on the budget surplus for July alone, which was $1.7-billion compared with $1.1-billion in July, 2007.
The monthly figures are less reliable snapshots because they are easily skewed by big corporate income-tax payments or business rebates that are made in the month.更多精彩文章及讨论，请光临枫下论坛 rolia.net
September 27, 2008
OTTAWA -- Canada's budget surplus is shrinking, reflecting Prime Minister Stephen Harper's decision to cut taxes and boost spending rather than run up the huge fiscal cushions that became the norm under Liberal governments.
The federal government recorded a surplus of $2.9-billion in the first four months of the current fiscal year, much less than the $6.7-billion surplus registered over the same period a year ago, but in line with the projections in Finance Minister Jim Flaherty's February budget.
Mr. Harper's decision to drop the goods and services tax to 5 per cent from 6 per cent at the start of the year has so far cost the federal treasury $1-billion in the fiscal year that started on April 1, according to a report released by the Finance Department yesterday.
Program spending is 8 per cent higher in the current fiscal year compared with the same period in 2007, for a total gain of $4.9-billion, reflecting increased transfers to the provinces for health care and education.
Defence spending was $5.6-billion in the four months through July, an 8.8 per cent jump from a year earlier.
The state of Canada's finances are getting a regular airing in the campaign for the Oct. 14 election as Mr. Harper's Conservatives try to position themselves as best suited to steward the economy through uncertain times. The Tory Leader's opponents, meanwhile, say Conservative policies are partly to blame for the weakest economic growth since the 1991 recession.
Mr. Harper used the Finance Department's latest budget figures to trumpet his government's management of the country's finances, issuing a statement in Calgary that the report shows the government is "ahead of schedule" in fulfilling its February pledge to post a "modest surplus."
In his February budget, Mr. Flaherty predicted a surplus in the fiscal year ending March 31, 2009, of $2.3-billion after an estimated surplus of $10.2-billion in the previous fiscal year.
Canada's economy contracted in the first quarter of 2008 and rebounded somewhat in the next three months, posting an annual growth rate of 0.3 per cent. That means Canada's growth rate in 2008 won't be anywhere near the 1.7 per cent pace Mr. Flaherty used as a basis for his budget.
Mr. Flaherty cut his 2008 forecast to 1.1 per cent in August. The Wall Street financial crisis could force him to reduce that estimate again, although few economists say Canada is in danger of slipping into a recession.
Mr. Harper's press release yesterday focused on the budget surplus for July alone, which was $1.7-billion compared with $1.1-billion in July, 2007.
The monthly figures are less reliable snapshots because they are easily skewed by big corporate income-tax payments or business rebates that are made in the month.更多精彩文章及讨论，请光临枫下论坛 rolia.net