DEFICIT CUT
Canadian Budget
(N.Z.P.A.-Reuter —Copyright) OTTAWA, April 13.
The Canadian Finance Minister, Mr Walter Gordon, yesterday announced a huge cut in the Federal Budget deficit for the fiscal year, ended on March 31.
In a pre-Budget White Paper presented to the House of Commons, he said the deficit dropped to only 83m dollars compared with 619.2 m dollars in the previous fiscal year. Canada has had a slxyear run of deficits. Mr Gordon, who will present his Budget later this month, predicted that “the Canadian economy as a whole should move forward to new and higher levels of activity in 1965.”
The White Paper attributed the massive cut in the deficit to the buoyancy of the economy. Budgetary revenues reached 7,136 m dollars, an increase of 14 per cent from 1963-64. Budgetary expenditures increased 5 per cent to 7,219 m dollars.
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Bibliographic details
Press, Volume CIV, Issue 30725, 14 April 1965, Page 17
Word Count
142
DEFICIT CUT
Press, Volume CIV, Issue 30725, 14 April 1965, Page 17
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