The December 2010 Fiscal Monitor shows the deficit for the first nine months of 2010-11 was $27.4 billion, $12 billion lower than reported for the same period last year. The improvement to date is about $2 billion more than that expected in the October 2010 Update for the year as a whole ($10.2 billion).Read More
On February 15, 2011, the Parliamentary Budget Officer (PBO) appeared before the House of Commons Standing Committee on Finance to present his updated fiscal forecast and to raise with the Committee a number of issues in the context of the upcoming 2011 Budget.
Economics AssumptionsRead More
Introduction and SummaryRead More
On January 31, the Government released its Seventh Report on the Economic Action Plan (EAP). The report provided an update on the status of the various measures introduced since the January 2009 Budget. As in the previous reports, it was full of self-congratulations on taking timely and aggressive actions to ensure a quick recovery from the 2008 recession. It again contained selective quotes supporting the Government’s actions. On balance, however, the Seventh Report provided little new information. There were, however, a number of things that the Report did noRead More
On February 1, 2011, the Department of Finance released its December 2010 survey of private sector economic forecasts. For the components surveyed, the December results are “broadly” consistent with the September 2010 survey.Read More