Saturday, April 14, 2012
says the Tories are on target to balance budget even sooner than thought!! That's from kevin page, hardly a friend of this government. The government needs to cut more, but tis is good news. OTTAWA — A new report from Parliament's spending watchdog shows federal expenditures are on pace to be billions of dollars less than expected in the fiscal year that just ended, meaning the Conservative government could balance the books earlier than anticipated and in time for the next election. A spending analysis of the first nine months of the 2011-12 fiscal year (April to December), released Friday by the parliamentary budget officer, shows expenditures decreased 2.4 per cent to $177 billion compared to the same period a year earlier. It also suggests federal spending — and the associated deficit — for the entire 2011-12 budget year that ended in March will be billions of dollars less than the Harper government projected in last month's federal budget. The fiscal blueprint estimated a deficit of $24.9 billion for 2011-12, with the budget being balanced by 2015-16. The government predicted a one-per-cent ($2.4-billion) increase in spending in 2011-12, but it looks like expenditures will actually drop several billion dollars (a possible reduction of between two and three per cent).