Ottawa spending plans appear to be on track
Posted Sep 27, 2011 8:29 am.
This article is more than 5 years old.
The Parliamentary Budget Officer says spending by the federal government in the first quarter was generally in line with the plan set out in the spring budget.
Kevin Page says spending in some departments is up over the past year, but for the most part the Harper Tories are managing to meet their various financial targets.
The Jury is still out on whether Finance Minister Jim Flaherty will be able to meet his deficit slashing targets and produce a balanced budget by 2014/2015.
Scotia Capital Economist Fred Ketchen tells 660News because of reduced economic growth forecasts moving forward, Flaherty might have to push back that date a little.
Ketchen says Canada is in an enviable position because our financial house is in much better shape than most, and low interest rates are helping the government when it comes to paying down its debt.
Later today the Prime Minister, Finance Minister and the Governor of the Bank of Canada will meet in Ottawa to talk dollars and cents and review the recommendations put forward during the recent G-20 leaders meeting in Washington.
