The Canadian Press

2015-04-21 | FedBudget

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The Conservative government is making good on its promise to deliver a balanced budget in advance of the scheduled federal election in October -- but it comes at a cost. The budget projects a 1.4-billion dollar surplus for the current fiscal year, but the government's rainy-day fund -- usually three billion dollars -- will be just one-billion until 2019. finance Minister Joe Oliver says it's acceptable to reduce that fund now, because the economy has put the oil price shock behind it. (The budget also reveals the sale earlier this month of the government's remaining shares of General Motors yielded a net gain of over two billion dollars, half of which has been applied to the bottom line.)

Date: 2015-04-21
Placeline: OTTAWA.
Source: The Canadian Press
Length: 23 seconds

Transcript Prediction: << we have gone through a significant decline more than a 50% decline in the price of oil so that particular eventuality has already occurred and that we don't have to take account of it further More I Drink periods of surplus the reason to need for the same contingency >>


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