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Noah Schafer

Battle to slay the budget deficit continues to stall - The Globe and Mail - 0 views

  • The Department of Finance estimates that the budget balance for the fiscal year 2010-11 will come in below what had been forecasted, and well below the deficit of 2009-10.
  • he Department of Finance estimates that the budget balance for the fiscal year 2010-11 will come in below what had been forecasted, and well below the deficit of 2009-10. It was expected and hoped that the budget balance would improve as the econom
  • The deficit has been stalled in the $35-billion a year range for the past 8-10 months.
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  • The steep decline in the 12-month moving sum that was produced by the recession finally turned around in early 2010, but the rebound lasted only a few months.
  • The graph also makes it clear that the trend to deficit began in early 2008, several months before the recession began.
  • The federal government’s decision to cut the GST would have produced a deficit even if the economy had remained stable.
Ms Cuttle

Show cards on structural deficit, watchdog tells Tories - The Globe and Mail - 0 views

  • “Distinguishing between structural and cyclical components of a government’s budget balance is crucial because, while the cyclical component may be expected to dissipate over a medium-term horizon as the economy returns to its full potential, the structural component may necessitate policy measures,”
  • he PBO’s own analysis concludes that if the Conservative government succeeds at reigning in spending as planned over the coming years, the structural deficit will fall from $25-billion this year to only $1.6-billion in 2016-17.
ngodup yaklha

http://www.theglobeandmail.com/report-on-business/economy/eu-grapples-with-greek-crisis... - 0 views

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    The second was failure to deal with its huge structural costs, the result of excessive government hiring and lack of deregulation. Stefanos Manos, the retired politician who was minister of economy and finance in the early 1990s, launched Greece's deregulation and privatization process. Before he lost his job in 1993, the telecom industry deregulation was well under way and public-private partnerships were put in place. Later, banking was deregulated to some degree. But then the political will to keep going evaporated and the deregulation process pretty much stopped. By last year, Greece's debt as a percentage of GDP was about 112 per cent, more than double that of Spain (another ailing euro zone country) while its budget deficit reached 12.7 per cent of GDP, the EU's highest. The spectre of Greece going bust sent Greek bond yields soaring last week, sending the euro in the opposite direction.
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