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Sunday, November 27, 2016

Canada's spends to boost economy: Deficit doubles in September



   Canada column for Sunday, Nov. 27/16

   THE CANADIAN REPORT
   (c) By Jim Fox

   Canada’s spending deficit under the new Liberal government doubled to $2.4 billion in September from a year earlier.
   Prime Minister Justin Trudeau earlier backed away from his election campaign vow for a balanced budget by the end of the government’s four-year term.
   Instead, the current budget spending plan is said to help create 100,000 jobs and boost national economic growth.
   Revenues in the month were about $21.7 billion, down from $22 billion, with lower corporate income taxes, non-resident income taxes and excise taxes, and duties, the Finance Department reported.
   Infrastructure and other program spending to stimulate the economy rose to $22.2 billion, up from $21.2 billion a year ago.
   In the first half of the fiscal year, there was a deficit of $7.8 billion compared with a surplus of $1.6 billion in the April-to-September period last year with the previous Conservative government.
   For the current fiscal year, the government has forecast a $25.1-billion deficit.

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   Marineland, a themed amusement park with marine and other animals in Niagara Falls, Ontario, faces five animal cruelty charges.
   The Ontario Society for the Prevention of Cruelty to Animals says the charges concern 35 American black bears, peacocks and guinea hens.
   The charges include failing to provide adequate and appropriate food and water for the bears.
   Marineland also faces charges for allowing a peacock to be in distress and failing to comply with the prescribed standards of care for them and guinea hens.
   The society said it expects further charges as the investigation continues.

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   News in brief:
   - The days of a “bloated, taxpayer-subsidized CBC (Canadian Broadcasting Corp.) are numbered,” federal Conservative leadership candidate Kellie Leitch says. If elected leader and prime minister, Leitch said she would dismantle the national radio-tv broadcaster. The Member of Parliament for Simcoe-Grey said taxpayers “should not have to subsidize the CBC to keep it afloat.”
   - The union at Postmedia wants five of its newspaper executives to reject bonuses amounting to $2.275 million as the chain continues to reduce staff. The bonuses range from $200,000 for National Post president Gordon Fisher to $900,000 for Postmedia president and ceo Paul Godfrey. The Communications Workers of America said the executives shouldn’t accept the payments while asking employees to take buyouts and face further layoffs.

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   Facts and figures:
   Canada’s dollar is lower at 73.90 cents U.S. while the U.S. dollar returns $1.353 Canadian, before exchange fees.
   The Bank of Canada’s key interest rate remains at 0.5 percent while the prime-lending rate is 2.7 percent.
   Stock markets are mixed, with the Toronto exchange index higher at 15,120 points while the TSX Venture index is down at 733 points.
   The average price for gas in Canada is $1 a liter or $3.80 (Canadian) for a U.S. gallon.
   Lotto 6/49: (Nov. 23) 6, 12, 13, 21, 31 and 42; bonus 22. (Nov. 19) 9, 11, 21, 26, 28 and 45; bonus 49. Lotto Max: (Nov. 18) 7, 10, 21, 24, 38, 40 and 49; bonus 3.

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   Regional briefs:
   - Two planes clipped wings at the Vancouver International Airport on Thursday, putting both of them out of service for repairs. The incident involved a United Airlines Airbus being towed to a gate and a stationary WestJet aircraft that was Flight 1722 to Palm Springs. There were no passengers on board either plane at the time.
   - The Atlantic nesting grounds of the roseate tern, an endangered seabird, are being protected by the Canadian government. The surrounding waters and lands of four islands off Nova Scotia, including Sable Island, are now listed as protected habitat for them. This boosts measures already in place by Nova Scotia’s government. The terns have a black cap and bill with a red base and a long, forked white tail that resembles streamers in flight.
   - Sixteen “dognapped” canines, taken when a cargo van was stolen in downtown Toronto, have been found unharmed. The dogs were out with a doggy day-care worker to visit a park. They were missing most of the day until three railway workers noticed the van parked at the rear of an industrial building. Police and the pet owners had conducted a desperate search throughout the day.

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Jim Fox can be reached at canadareport@hotmail.com

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