CANADIAN FINANCES
Deficit Slightly Smaller (N.Z. Press Asm.—Copyright) _OTTAWA March 12. A Federal Budget deficit of an estimated 685 million dollars for the year ending on March 31—a slender reduction of 6,600,000 dollars from the 1962-83 deficit—was reported today by Canada’s Finance Minister (Mir Walter Gordon). The total deficit on Government accounts for the seven years since April 1, 1957, is 3,369,000 dollars. The White Paper which announced the details contained one big sign of optimism for next year—the view that toe long-lasting economic upswing which began early in 1961 "shows no signs of weakening.” Barring major tax cuts in the new Budget—and these are unlikely—the economic buoyancy will fatten Government revenue. Last year’s growth in national output, rated at 6 per cent, pushed Federal revenues up 5.6 per cent. Mr Gordon will present toe Budget on Monday.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19640314.2.216
Bibliographic details
Press, Volume CIII, Issue 30390, 14 March 1964, Page 19
Word Count
138CANADIAN FINANCES Press, Volume CIII, Issue 30390, 14 March 1964, Page 19
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.