(Next Canadian PM) Martin to reap rising surplus - Globe and Mail

[Screaming Lord Byron]

OTTAWA — Ottawa's books are in much better shape than government officials are letting on, inside and outside observers believe, which would give Paul Martin more room to implement new programs than has been publicly acknowledged.

Finance Minister John Manley projected a slim surplus of $2.3-billion when he presented a fiscal update early last month, but economists put the number a few billion dollars higher than that.

The surplus is estimated by some to be around $9 bn.
Reckon Martin will sneak in some tax cuts before the (April?) election, or some more spending?

http://www.globeandmail.com/servlet/story/RTGAM.20031204.wxbudget04/BNStory/Front/

[La_Serpiente]

1. link?

also, is there a large national debt in Canada?

[Screaming Lord Byron]

2. Duh! knew I forgot something. There is a fair-sized debt but

it has been declining in recent years, or at least, large sums have been put on it. I don't know if these figures are above and beyond debt payments.

[Tommy_Douglas]

4. Chretien and Martin's entire philosophy...

Was to be committed to preserving social programs, balancing the budget, and reducing the deficit.

Tax Breaks would not be considered until the debt had been dealt with. Mind you Martin had mentioned at some point that he was considering a tax break, but then again he recently speak of increasing funding to social programs and overseas aid to Africa.

[Screaming Lord Byron]

5. I'd rather see him make a good fist of overseas aid.

Our taxes aren't so bad.

[Frederic Bastiat]

7. Depends where you live

Our taxes aren't so bad.

My municipal taxes (Montreal) just shot up 6% this year alone. When you factor in Federal and Provincial taxes it makes us the highest taxed city in all of North America.

Oh and services will be reduced - that is public transport, library services, snow clearance etc

Makes me wonder where half my paycheck goes.

:eyes:

[Screaming Lord Byron]

8. Well, I am an Albertan, of course.

:)

[denverbill]

6. How about sending some aid to America too?

Say a billion or so to help poor Americans pay for prescription drugs? God knows we are incapable of helping ourselves.

[Spazito]

3. I am not surprised that it will come in higher...

Martin, like Manley used to always lowball his projection too. I suspect Martin will spend prior to the election and then tighten up after.

It will be interesting to see if there is any debt repayment done with this surplus or if it will be only in spending on programs.