Canada Actually Scrutinized For Improving Finances

[Economy 53,144]

http://blogs.wsj.com/canadarealtime/2014/10/06/how-did-canadas-deficit-shrink-so-much/ http://www.theglobeandmail.com/news/politics/conservatives-should-soften-proposed-balanced-budget-law-watchdog-says/article20737848/

 

A small deficit of $16.6 Billion was expected for this year (2013-2014 fiscal year) but actually came in at $5.2 Billion (over $10 Billion below forecast). The Government explained that revenue came above expectations while expenses came in below expectations.

 

Because the past 10/12 years the finances have always "surprisingly" came better then expected, the Conservative Government is being criticized for purposely under-estimating revenue and over-estimating expenses to justify spending cuts that arent really needed

 

Despite National Debt being at a very safe 33% of GDP, the Conservative Government insists on going back to surplus by next year which they are also criticized for "rushing the process"

[Sebastien 16]

I love that they're doing that!! People who "act" poor usually have more in the end. 

[Economy 53,144]

I love that they're doing that!! People who "act" poor usually have more in the end. 

well, its best to make a conservative budget to be on the safe side in my opinion

 

and when is it the right time for austerity? it never feels like the right time and so many Countries dont do it until they get to the point they have no choice and it becomes more painful

 

any debt above 60% of GDP is not considered safe and tones of developed Nations are hovering around 100% of more

 

Our solid finances are part of the reason we survived the recession better than most.

 

I just hope some Provinces in bad financial state get their act together as well... Here in Canada Provincial Governments make up a big percentage of taxes and spending now-a-days... more than US States believe it or not so its a big deal for Provinces to follow the Federal Governments example

[Emvee 8,869]

Criticized by whom? The rivaling political parties?

[Economy 53,144]

Criticized by whom? The rivaling political parties?

well opposition parties (no surprise there), but by much of the public as well

 

many say debt levels are very manageable and theres no need to rush with austerity during a time when the economy is still weak

 

some also say the Government is just doing this to keep a promiss they made back in 2010 that they would bring Canada back to surplus by 2015 before elections and that they are doing it just to not look bad even though its not in the Countries best interest

 

And the budgets on top of adding in a $3 billion cushion for risk into the budget, the budgets even without that are typically made conservative with a tendency of under-estimating revenue and over-estimating expenses

 

since the opposition parties dont support as much cuts as the Conservatives, one way they get get cuts they want is by making the financial situation worse than it actually is by inflating deficits. Or at least so the accusations go

[Woolfsmck 2,763]

I love that they're doing that!! People who "act" poor usually have more in the end.

I am fairly certain that has to do with 'spending' practices... (ahem mr. Obama) ...

[Economy 53,144]

I am fairly certain that has to do with 'spending' practices... (ahem mr. Obama) ...

hes reckless tbh

Reminds me of a certain lesbian premier *Cough* Kathelene* *cough* Wiyn*. Its so obvious ppl voted for her cause shes Lesbian just like they voted for Obama cause hes black

Just like they may vote for Hilary if she runs cause shes a woman.

In this society, the current trend is favour people who used to be unfavoured

Back to topic, i hate that they scrutinizing the Conservatives. They are the only party Canada has that actually knows how to run anything :roll: