Treasury Board News
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Canadian Finance Minister Jim Flaherty will say in a budget today how he plans to cope with a weakening revenue outlook that is hampering efforts to eliminate the country’s deficit before the 2015 election.
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Finance Minister Jim Flaherty will deliver the next federal budget on March 21, saying he will still eliminate a deficit by 2015 even with signs of slower economic growth.
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Saskatchewan’s potash producers were targets of a cyber attack in January that resulted in the theft of classified federal data, the Ottawa Citizen reported.
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Stockwell Day, head of Canada’s treasury board, said the government is seeking to save C$1.7 billion ($1.68 billion) from reviews of government spending.
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Barrick Gold Corp. and Visa Canada Corp. are exploiting an exemption in ethics legislation to hire former Harper administration aides as lobbyists, triggering calls for increased regulation as Canadian lawmakers prepare to review the rules.
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Alberta’s dependence on revenue from sales of discounted oil means the Aaa-rated province will miss its target of a balanced budget in the fiscal year ending March 2014 and could run a C$4 billion ($4 billion) deficit instead, according to Moody’s Investors Service.
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China-based hackers looking to derail the $40 billion acquisition of the world’s largest potash producer by an Australian mining giant zeroed in on offices on Toronto’s Bay Street, home of the Canadian law firms handling the deal.
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Canadian Finance Minister Jim Flaherty said concerns about cyberattacks on government websites haven’t affected preparations for next month’s budget.
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The government would be breaking the law by yielding to pressure from the opposition New Democratic Party to hold public hearings into Cnooc Ltd.’s takeover of Nexen Inc., Treasury Board President Tony Clement said.
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Canada’s federal budget deficit narrowed in October from a year earlier as tax revenue accelerated.
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