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標題: Harper budget sending Canada $85 billion into deficit [打印本頁]

作者: soli 時間: 2009-1-29 03:07 標題: Harper budget sending Canada $85 billion into deficit

Harper budget sending Canada $85 billion into deficit
By Bruce Cheadle, CANADIAN PRESS

The Conservative government dove for economic and political cover Tuesday with a federal budget that submerges Canada in a sea of red ink after more than a decade of clear fiscal sailing.

Finance Minister Jim Flaherty presented a spending blueprint that projects almost $85 billion in deficits by the spring of 2013, when Flaherty hopes Canada's finances can come up for air.

Across-the-board income tax cuts amounting to roughly $2 billion annually were the final conservative stabilizer bolted to a rambling, make-shift budget the Harper Tories had been leaking for days with unprecedented candour.

In a remarkable document for the ostensibly centre-right government of Prime Minister Stephen Harper, the budget exerts Ottawa's influence on everything from multibillion-dollar credit markets to whether to build a new deck on your cottage.

"Deciding whether and how to spend the resources of our fellow Canadians is one of our most serious responsibilities," Flaherty told the newly returned House of Commons in his budget speech.

"In this extraordinary time in our history, it is also one of our most urgent responsibilities."

So urgent, said the government, that Canada has already fallen into deficit for the first time since 1996-97 and will post a $1.1 billion shortfall for the current fiscal year that ends March 31.

It's just the first of five consecutive deficits, according to Finance Department projections. And the $84.9 billion in cumulative deficits will reverse more than four fifths of the national debt repayment Canadians have managed over the past decade.

Program spending will leap 10.7 per cent to $229 billion in 2009-10, up from roughly $207 billion this year, then rise another 3.2 per cent in 1010-11 before falling slightly the following year.

In the meantime, Ottawa's ballast gates are wide open.

There's money for social housing, aboriginals, high-speed Internet networks, home retrofits and cultural projects.

There's cash for bridges and highways, for parks and promoting tourism, for railways and Arctic research.

There's government credit support for automobile leasing and business IT expenditures, and there are improvements to Employment Insurance and job retraining programs.

Among the few details saved for the actual budget release was some taxpayer eye candy: A modest increase in the basic personal exemption that will help all tax filers; and raising the upper limit of the two lowest personal income-tax brackets.

It's all part of a bid to meet "the challenge of our time," said Flaherty - not to mention the challenge of Canada's 40th Parliament.

A Liberal-NDP coalition, backed by the Bloc Quebecois, was prepared to defeat the Harper government before Christmas after Flaherty delivered an economic update that proposed slashing government spending, selling off assets - and no economic stimulus.

Both the Bloc and the NDP immediately torpedoed Tuesday's Tory do-over, each claiming - somewhat bizarrely - that the big-spending document reflects Harper's "ideology."

"Nothing in there to obtain our support," sniffed Bloc Leader Gilles Duceppe.

Thomas Mulcair, finance critic of the NDP, said the budget provides federal stimulus of only 0.7 per cent of GDP, not the 1.9 per cent that Flaherty touted in his budget speech. Flaherty's figure combined both federal and as-yet unknown provincial expenditures.

"There's no way the NDP can support this document," said Mulcair.

Liberal Leader Michael Ignatieff, whose party holds the fate of the Harper government in its hands, will not pronounce on the budget until Wednesday after consulting with his caucus.

Few observers think the Liberals will sink the Tories over such an ecumenically airtight blueprint.

Kevin Dancey, CEO of the Canadian Institute of Chartered Accountants, said all budgets are political documents and this one is acutely so.

"It almost says, 'I want to get passed' on it," said Dancey.

For all its red ink, the Conservative budget may also be overly optimistic.

"There will be no long-running or permanent deficit," Flaherty promised, but soon after added a major qualifier.

"While our projections are based on the best possible information, we cannot guarantee them absolutely."

Derek Holt, senior economist at Scotia Capital, said the government is banking on a short, sharp recession followed by a rapid recovery, a trend-line he and some other private sector economists don't share.

"The $700 million surplus they have (forecast) five years out faces a downside risk if they don't get as quick and sharp a recovery as they're predicting," said Holt.

That's economist-speak for: don't hold your breath waiting for the return of surplus budgets.

Kevin Page, Parliament's independent budget officer, issued a report last week that projected deficits could total as much as $105 billion over the next five years.

All this sobering news comes barely three months after an election campaign in which Harper flatly dismissed the possibility of short-term deficits, and exactly two months after an economic statement that projected balanced books.

"We are in uncharted waters," Flaherty told reporters inside Tuesday's budget lockup.

"The economists have been wrong in their predictions. All of the so-called experts continue to become more pessimistic in their forecasts. Things could get worse and if they get worse, we'll do more."

As it is, Flaherty said the budget will inject some $40 billion in economic stimulus into the economy over the next two years, even as deficits total $64 billion.

作者: soli 時間: 2009-1-29 03:38

o甘大新聞竟然無人貼~
Harper 真係面皮厚呢~
諗起之前不少老友記極力支持哈巴﹐唔知會唔會有被出賣既感覺呢?

http://www.loyaukee.com/forum/vi ... &extra=page%3D3

哈巴之前話加拿大經濟極其量只會少少衰退﹐唔需要特別做D乜﹐要平衡預算﹐又話如果學美國o甘勁洗錢就實衰云云。o甘而加財政預算以人均計﹐洗得仲勁過美國﹐o甘加拿大咪實死無生?

究竟係保守黨覺今是而昨非﹐認之前係自己短視無料到﹐錯判經濟形勢﹐定係仍然認為加拿大無需要run deficit﹐但為了私慾不甘被倒台﹐不惜置加國人民於死地呢?

作者: news 時間: 2009-1-29 06:55

i think they are jsut trying to save their asses in the parliament

作者: B2L2 時間: 2009-1-29 10:33

If they are being kick out from the parliament, what kind of budget you think we will be getting?

作者: siumaibb 時間: 2009-1-29 10:55

天下烏鴉一樣黑

作者: BiscottiGelato 時間: 2009-1-29 11:17

原帖由 B2L2 於 2009-1-29 10:33 發表
If they are being kick out from the parliament, what kind of budget you think we will be getting?

x2. Blame the treasonous 'coalition party' if you want to blame the root cause.

They all have self-fish political motives, but the Bloc and NDP definately is the worse of them all. At least the Conservative tried to give a balanced budget to start with but was threatened down. While Dion is just a liar, who promised to step down, but upon chance to overthrow the current government over any random excuse, broke his promise and we are left with this revised budget today.

I am sure that if our country is ran by crooks who have no concept of national macro economics (NDP/Bloc), and are just solely concerned with distributing candies to their supporters, we will be in much more dire situation.

Don't want this to repeat? Stop voting for those bastards and get a majority government with the right party next time!

[ 本帖最後由 BiscottiGelato 於 2009-1-29 11:20 編輯 ]

作者: peter236 時間: 2009-1-29 12:32

The Conservatives are always good at having deficits. It was them who accumulated huge public debt for the country. Then it was the Liberals who gradually made some surplus years and paid down the debt. Now the Conservatives are having huge deficits again.

[ 本帖最後由 peter236 於 2009-1-29 13:48 編輯 ]

作者: soli 時間: 2009-1-29 12:59

If they are being kick out from the parliament, what kind of budget you think we will be getting?

在加拿大歷史裡﹐ 要數大花筒政黨﹐ 非保守黨莫屬﹐ 滅財赤執手尾的都是自由黨~

如果保守黨堅持認為要平衡預算﹐ 大可要求總督解散國會﹐ 重開大選﹐ 這才是上次阿力哥所講既正途呀﹐說不定可以組成大多數政府呢

如果總督決定讓自由黨組聯合政府﹐ 之後出了個更變態(不認為有可能)的預算案﹐ 責任也不在保守黨﹐ 哈巴又何必要當千古罪人呢? LOL

I am sure that if our country is ran by crooks who have no concept of national macro economics (NDP/Bloc), and are just solely concerned with distributing candies to their supporters, we will be in much more dire situation.

既然搬出macro economics, 經濟好境時就平衡預算﹐減稅減GST; 經濟差時就增加政府開支﹐run deficit。請問這究竟是那個school 的 macro economics 理論? 是保守黨發明的嗎? 哈巴個學位係點混返黎架?

這次預算案一部份滿足了自由黨的要求﹐看來是不會推翻保守黨﹐之前不少人認為自由黨只以經濟作籍口來奪權的指控也不攻自破吧。 Dion 若果真的執意要當總理﹐又怎肯這麼爽快地辭職呢?

作者: Lik 時間: 2009-1-29 20:26

呢個世界真係多狗噏人。

全世界經濟都唔好係鐵一般嘅事實。個市唔好而政府拎錢出來救市／托市又有乜野唔妥？就算要財赤咁又如何？普羅大眾依家最關心嘅係個市幾時好番，定係政府財唔財赤？

唔好唔記得 Bloc 同 NDP 連份財政預算都未出果陣就經已話左老虎蟹都唔會支持。呢D唔係對現狀於不顧，而只係好學唔學，好似台南班深綠鄉下佬咁死都要為意式型態而撐阿扁一樣？！

換左係自由黨上台、換左係佢地出財政預算又點？佢地推出來個方案會有幾大？會有幾多赤字？會 cover D乜野？自己無料嘅話，唔該去聽下D有料嘅分析家、評論員講過D乜。

D狗噏人講野唔經大腦，同佢多講都徙氣。

-力

作者: Lik 時間: 2009-1-29 20:38

反正講開，等我響到順便小埋明報加西版班KT。

今日頭版個大字標題係 "葉禮庭暫放生哈珀"。吓？！ Ignattif 暫時放生 Harper？！條KT老編有無腦㗎？說話要出口之前，唔該用個腦來隔一隔。Liberals 如果自己有種又夠能力去砌低 Conservatives 嘅話就唔使死死地氣去支持個 Budget 啦？佢地自己咩唔起令政府倒台而又要再一次叫選民去投票嘅責任，亦推唔出一個同個 Conservative Budget 有重大唔同嘅方案。咁都算 "放生"？明報加西版班契弟編輯要西瓜靠大邊都唔識做得高章D，真係 cheap 到出面。

-力

作者: soli 時間: 2009-1-29 20:49

咦~

I hate to say this, but your post reveals how little understanding you have towards the Canadian economy. While the US recession will invariably drag the Canadian economy down to a certain extent, Canada is in a far better shape than the US is. The Canadian financial system remains strong, and in particular, our banking system is in a far better shape than what the US is struggling with. As a matter of fact, experts agree that among the G20, Canada is arguably in the best financial shape. Just because the US is throwing money every which way doesn't mean we have to do the same thing. More importantly, just because the US can afford to do this doesn't mean Canada can -- like it or not, the USD is the world currency, and that means the Feds has a licence to print money. The Bank of Canada, unfortunately, is not the Feds....etc

同保守黨一樣﹐ 今天的我打倒昨天的我?
真係為支持而支持﹐ 保守黨放個屁都係香既.

作者: soli 時間: 2009-1-29 20:56

全世界經濟都唔好係鐵一般嘅事實。個市唔好而政府拎錢出來救市／托市又有乜野唔妥？就算要財赤咁又如何？普羅大眾依家最關心嘅係個市幾時好番，定係政府財唔財赤？

如果是認為"個市唔好而政府拎錢出來救市"﹐ 在個巿好既時候就要留有盈余﹐ 好天斬落雨柴﹐ 唔係有少少盈余就全拿出來買選票否則永遠支出大過收入﹐ 遲早要破產。
所以話﹐ 保守黨是最不會搞經濟的政黨就是了。

作者: sheep 時間: 2009-1-29 21:39

change 丫嘛
溫市要加地稅呀救命呀
change 要付出代價

作者: peter236 時間: 2009-1-30 02:19

原帖由 Lik 於 2009-1-29 21:26 發表
呢個世界真係多狗噏人。

全世界經濟都唔好係鐵一般嘅事實。個市唔好而政府拎錢出來救市／托市又有乜野唔妥？就算要財赤咁又如何？

Of course, we can still remember during the Asian financial crisis, when Hong Kong government supported the Hong Kong stock market, all those foreign racists bashed HK for "interfering the free economy".
Now, all these same foreigners are doing everything they can to bailout/support their own bankrupt companies and to "nationalize" their banks. These racists should apologize to all the Hong Kong people for their comments.

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