This article was last updated on April 16, 2022
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Finance Minister, Jim Flaherty, finally announced his plans to table the 2014 budget on Tuesday February 11. A date which puts the Conservative government’s budget in competition for spotlight with the Sochi Winter Olympics, which is taking place from Feb. 7 to 23. The expected date was announced by Mr. Flaherty in the House of Commons on Monday afternoon.
Earlier, Flaherty held a meeting in Ottawa with private sector economists, after which he addressed reporters and alleged that there is “no doubt” that the budget will return to balance in the 2015-16 fiscal year. However, The Finance Minister refused to answer a question inquiring if the surplus could appear a year earlier. In addition to that, Mr. Flaherty was inquired if there was a resolutely effort among Canadian policy makers to lessen the value of the loonie to boost the economy. In response to that, Flaherty straightforwardly replied “no. The currency of the Canadian dollar is a market currency and it moves in response to market forces,” and added that “you know, I never talk about the Canadian dollar.”
However, the minister’s comments conflicted with his own doings since the minister is previously sited passing a statement on value of the Canadian dollar in an interview that aired earlier this month. Mr. Flaherty mentioned at the time, that a “dollar in the 90s somewhere” is good for manufacturing without hurting Canadians who travel abroad, and since that time, the value of the loonie dropped from about 94 cents to about 90 cents U.S.
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