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Harper says 2013-14 deficit projected at $5.2B, down from $16.6B

‘The government has no plan or no intention to move this year into a surplus,’ PM says in presentation to two boards of trades


 

Darren Calabrese/CP

Darren Calabrese/CP


BRAMPTON, Ont. – The federal deficit for the last fiscal year is expected to come in at $5.2 billion — well below earlier forecasts, Prime Minister Stephen Harper said Thursday.

The government had projected a deficit of $16.6 billion for 2013-14 in the last budget, but it’s expected to be about a third of that, he told members of two board of trades in Brampton, Ont.

“The government has no plan or no intention to move this year into a surplus,” Harper said in a presentation ahead of a moderated question-and-answer session.

“We continue to intend to run a small deficit this year before returning to surplus.”

The rest of the figures remain unchanged from the estimates made in February’s budget: a $2.9 billion shortfall in the 2014-15 fiscal year — which runs from April to next March — then climbing to a $6.4 billion surplus the following year, he said.

One-time factors played a significant role in the improvement this past year, Harper added, but didn’t offer details.

The timing is hardly a happy coincidence for the Conservatives, who find themselves well on their way to reaping a surplus just in time for a federal election, scheduled to take place in October 2015.

Harper said the Tories do intend “to move quickly to implement promises that we made to Canadians in the last election.”

One of those planks — an expansion of income splitting for couples with children — was announced during the 2011 campaign, but was contingent on the government balancing the books.

The Conservatives are expected to come up with other goodies to finance the coming campaign, depending on how large the actual surplus turns out to be.

Harper said the Tories didn’t wrestle down the deficit by cutting transfers to provinces and territories, but by controlling direct program spending, which he said has been flat or declining in most federal departments.


 
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Harper says 2013-14 deficit projected at $5.2B, down from $16.6B

  1. We had a surplus when he got into office….he was the one who created the deficit. So now that he’s trying to pay it off…..

    • When the Liberals were in office we saw massive cutting of transfers to the provinces for Health, Education and Social Services, the raiding of the pensions of the Public Service, the RCMP and the Military, the illegal appropriation of some $54 Billion Dollars paid by workers and their employers into EI, myriad scandals involving graft and corruption by the Liberal Party, the most notable being ADSCAM, and one of the most infamous quotes coming from Justice Gomery saying of the Liberal Party, ‘they are criminally organized”.

      The Liberal Party is toast, there is no way back.

      And when will they pay back that missing $40 Million from ADSCAM?

      What about the $162 Million Taxpayer Dollars Paul Martin’s CSL received while he was Finance Minister?

      Dion……………loser

      Iggy…………really was just visiting

      Turdfeau 2 is a vapid waste of space, the Liberals will remain da turd pardi

      • LOL Libs are way ahead, luv. It’s time to heave Steve.

        • The polls predicted Martin would win a majority until days before the election.

          Dion was to win a minority, according to the polls.

          Iggy was really just visiting.

          Turdeau 2 is about to join them under that Liberal bus.

          There’s only one poll that counts.

          • @ Billy Bob. It’s not Turdeau, it’s Trudeau. That you despise the Liberals, that’s fine, everyone is entitled to their opinions, but being respectful and adult like will add weight to your comments. By calling Trudeau Turdeau you’re acting like a teenager, not a responsible citizen.

          • Yes, polls can be wrong…..we all know that.

            However, pinning your hopes on that after Trudeau has been ahead for over a year is just silly.

          • JC you can FO.

          • Those who ignore history are bound to repeat it Emily.

            The Liberals will still be da turd pardi after the next election.

          • Yes, Billy Bob….people who ignore history are bound to repeat it.

            ‘The party dominated federal politics for much of Canada’s history, holding power for almost 69 years in the 20th century—more than any other party in a developed country—which resulted in its being sometimes referred to as Canada’s “natural governing party”.’

            It will be the same in the 21st century.

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