The public expects the Finance Minister Jim Flaherty to announce some positive news when he announces the government’s fall economical update on Tuesday, November 19. Jim Flaherty hinted earlier that the deficit would be less in the current fiscal year and that an increase in surplus would be observed in the 2015 fiscal year. The minister’s signal has provoked speculation that the government may be able to eliminate deficits one year prior to th
e planned fiscal year.
I deem this as a great news, for the successful early elimination of financial deficits will benefit the Canadian Economy greatly. Such action not only boosts the public’s confidence on the Canadian government, but also signifies possible taxation reductions in the future. Therefore, the Finance Minister has put himself into a favourable position by announcing the great news.