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Another yearly surplus in the works for Canadian government.

KrispyKreme50

Member
Jan 21, 2008
62
0
0
Kudos to Canada. Now they need to bolster their economy. According to the article, economic growth this year is only estimated to be at 1.4 pct.
 

charrison

Lifer
Oct 13, 1999
17,033
1
81
The surplus should either be returned the tax payers or pay down debt. But I bet a good bit of that surplus get spent.
 

babylon5

Golden Member
Dec 11, 2000
1,365
1
0
Canadians just want Americans feel bad. Shame on Canada with responsible budgeting!!
 

silverpig

Lifer
Jul 29, 2001
27,708
9
81
Originally posted by: charrison
The surplus should either be returned the tax payers or pay down debt. But I bet a good bit of that surplus get spent.
We've had tax cuts the past few years already (GST from 7% to 6% to 5%), and the debt is being paid down every year too.
 

KrispyKreme50

Member
Jan 21, 2008
62
0
0
Honestly I was surprised that the surplus was this low with oil prices as high as they are right now. Other petroleum exporting countries are almost all experiencing record surpluses. Look at Norway for example - its surplus as a percentage of GDP is staggering compared to Canada.
 

Moonbeam

Elite Member
Nov 24, 1999
66,969
3,757
126
Americans will doubtless invade and take it over when we collapse down here.
 

Vic

Elite Member
Jun 12, 2001
48,103
8,537
126
Originally posted by: KrispyKreme50
Honestly I was surprised that the surplus was this low with oil prices as high as they are right now. Other petroleum exporting countries are almost all experiencing record surpluses. Look at Norway for example - its surplus as a percentage of GDP is staggering compared to Canada.
In a word: NAFTA
 

Vic

Elite Member
Jun 12, 2001
48,103
8,537
126
Originally posted by: silverpig
Originally posted by: charrison
The surplus should either be returned the tax payers or pay down debt. But I bet a good bit of that surplus get spent.
We've had tax cuts the past few years already (GST from 7% to 6% to 5%), and the debt is being paid down every year too.
That's because your conservatives are actually conservative.
 

silverpig

Lifer
Jul 29, 2001
27,708
9
81
Originally posted by: Vic
Originally posted by: silverpig
Originally posted by: charrison
The surplus should either be returned the tax payers or pay down debt. But I bet a good bit of that surplus get spent.
We've had tax cuts the past few years already (GST from 7% to 6% to 5%), and the debt is being paid down every year too.
That's because your conservatives are actually conservative.
Well the Conservatives are the ones responsible for the GST in the first place, and they are the ones who largely put us into debt. They got voted out, the Liberals came in, kept the taxes, but balanced the budget and worked up huge surpluses. Now the Conservatives are back in, they're just cutting the taxes down again and riding the surplus wave out.
 

dennilfloss

Past Lifer 1957-2014 In Memoriam
Oct 21, 1999
30,550
8
0
dennilfloss.blogspot.com
Our conservatives were basically your democrats but they have undergone a shift towards the right the last decade or so. Still, they could not act like total neocons in a minority parliament or their governmental ass would be grass in short order.
 

dennilfloss

Past Lifer 1957-2014 In Memoriam
Oct 21, 1999
30,550
8
0
dennilfloss.blogspot.com
Originally posted by: KrispyKreme50
Kudos to Canada. Now they need to bolster their economy. According to the article, economic growth this year is only estimated to be at 1.4 pct.
We are still linked very much to the US economy so your recession will have an echo here.

 

sandorski

No Lifer
Oct 10, 1999
68,206
3,256
126
Originally posted by: KrispyKreme50
Honestly I was surprised that the surplus was this low with oil prices as high as they are right now. Other petroleum exporting countries are almost all experiencing record surpluses. Look at Norway for example - its surplus as a percentage of GDP is staggering compared to Canada.
Along with Tax Cuts, there has been increased Spending. Especially on the Military which languished when the Deficit reduction cut Spending across the board. There's a couple decades worth of Equipment upgrades being made through all branches of the Military.
 

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