Greece’s fiscal crisis may improve the euro’s long-run viability if it forces nations using the currency to deepen their fiscal integration, according to Craig Wright, Royal Bank of Canada’s chief economist.
Canada’s budget projects almost C$45 billion ($41 billion) in surpluses over four years, giving Prime Minister Stephen Harper a war chest for increased spending and tax cuts ahead of next year’s election campaign.
Canadian Finance Minister Jim Flaherty will release a budget today that will keep the country on path for surpluses starting next year, and set the stage for a political battle over how to use the coming fiscal room.
Canadian Finance Minister Jim Flaherty ramped up efforts to return the country to surplus in a budget that raises taxes on cigarettes and cuts benefits to retired government workers while providing more aid for carmakers.
Canadian Finance Minister Jim Flaherty said his next budget on Feb. 11 will show a surplus of just under C$4 billion ($3.6 billion) in the fiscal year starting April 2015 and said policy makers are not attempting to quicken a decline in the nation’s currency.