Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Flaherty to Provide Update on Canada’s Finances Next Week

Nov. 7 (Bloomberg) -- Canadian Finance Minister Jim Flaherty will release an update next week of his plan to bring the nation’s budget back to balance by 2015.

Flaherty will deliver the update Nov. 12 at about 2:45 p.m. New York time during an event in Edmonton, Alberta.

The nation’s budget deficit has narrowed more quickly than Flaherty forecast in his 2013 budget, delivered on March 21, primarily because of an unexpected drop in operating and capital spending.

Canada recorded a shortfall of C$18.9 billion ($18.1 billion) in the fiscal year that ended March 31, the Finance Department said on Oct. 22. That figure is C$7 billion less than Flaherty projected in the March budget, which also forecast a deficit of C$18.7 billion for the current fiscal year before swinging to a surplus in the 2015 fiscal year.

The government has promised legislation over the next two years to end budget deficits once it returns to balance.

To contact the reporter on this story: Theophilos Argitis in Ottawa at targitis@bloomberg.net

To contact the editor responsible for this story: David Scanlan at dscanlan@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.