Jim Flaherty misses target as Canada deficit $1.4-billion above forecast

By Michael Babad
The Globe and Mail
Published Friday, Oct. 05 2012, 11:26 AM EDT
Last updated Friday, Oct. 05 2012, 2:29 PM EDT

These are stories Report on Business is following Friday, Oct. 5, 2012.

Follow Michael Babad and the Globe’s top business stories on Twitter.

Flaherty misses target
The Canadian government’s deficit sure looks better than a year ago, but it’s shy of the mark set by Finance Minister Jim Flaherty.

Today’s report from Mr. Flaherty puts the 2011-2012 shortfall at $26.2-billion. That’s down markedly from $33.4-billion a year earlier and $55.6-billion the year before that.

More Related to this Story

But Mr. Flaherty’s March budget called for a 2011-2012 deficit of $24.9-billion, so the government is short of its target. The miss is actually $1.4-billion, though the numbers don’t match up because of rounding.

“This positive performance is encouraging and reflects Canada’s sound economic and fiscal fundamentals,” Mr. Flaherty said in a statement.

“However, the global economic environment is still fragile and uncertain, and recent economic developments suggest that there are downside risks to the fiscal outlook contained in Economic Action Plan 2012. Nonetheless, our government remains committed to achieving our goal of returning to balanced budgets over the medium term.”

continue reading: http://www.theglobeandmail.com/report-on-business/top-business-stories/jim-flaherty-misses-target-as-canada-deficit-13-billion-above-forecast/article4591562/

Please feel free to add feedback, additional info, alternative contact details, related links, articles, anonymous submission, etc. as a comment below, via web-form, through social media or mail us directly and confidentially at: dumpharper [at] live [dot] ca

This site may contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in an effort to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. and intend its use to be for education and instructional purposes only. Therefore, we believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. If you wish to use copyrighted material from this site for purposes of your own that go beyond “fair use,” you must obtain permission from the copyright owner.

ShareAlike Statement: https://dumpharper.wordpress.com/sharealike/


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s