Sentences with phrase «public spending deficit»

Not exact matches

The Bank of Canada said nothing in public about the possible merits of deficit spending as it twice cut its benchmark interest rate last year to offset the collapse of oil prices.

«Public - sector spending — a strong, steady contributor to the economy over the past decade — is now being curtailed as federal and provincial governments try to bring deficits under control,» the Conference Board of Canada noted in a recent forecast.

As talk about the economy has largely focused on tax cuts, the U.S. budget deficit and the potential for trade tariffs, one of the biggest things investors and the general public seem to be missing is the increased spending soon to be pumped into the U.S. economy by the government.

However, a budget deficit that takes the form of transfer payments to banks, as in the case of the post-September 2008 bank bailout, the Federal Reserve's $ 2 trillion in cash - for - trash financial swaps and the $ 700 billion QE2 credit creation by the Federal Reserve to lend to banks at 0.25 % interest in 2011, has a different effect from deficits that reflect social spending programs, Social Security and Medicare, public infrastructure investment or the purchase of other goods and services.

Under the Canada Economic Action Plan the deficit will be eliminated by 2015 - 16; although total net public debt will have increased by $ 150 billion, the debt ratio will have declined to 33.0 per cent in 2015 - 16 and reach the government's target of 25 percent by 2019 - 20; program spending will fall to below 13 percent of GDP and will continue to fall thereafter; public sector jobs have been eliminated; and income and corporate taxes have been cut.

The only time this has happened in history for a three year period or more was during World War II, when we were obviously printing enough money to finance a lot of deficit spending on infrastructure and public programs.

Without the inflow of Chinese funds and the trade deficit, we could finance more public spending from the higher taxes on higher GDP.

Prime Minister Justin Trudeau and some of the provinces were able to offset the commodity - price crash of 2014 - 15 with deficit spending because Canada's public finances were in excellent shape.

When planning for the future, it's worth considering the following possible public policy risks that could affect your clients» ability to save for retirement and the money they have available to spend in retirement: Will income tax rates rise with current government deficit spending?

However, the Liberal platform also envisaged temporary deficits to finance higher spending on social programs such as child benefits, a higher Guaranteed Income Supplement for single seniors, public health care, child care and First Nations programs, and did not increase overall federal tax revenues.

'' The next two years will provide no shortage of challenges for our Conference, its partners in government and all New Yorkers: A multi-billion dollar budget deficit needing closure, a government that is still too big and spends too much, chronic unemployment, some of the nation's highest taxes and a continued lack of public confidence in state government,» Kolb said.

The big banks, having caused the crisis in the first place and led governments to borrow vast sums to come to their aid, have successfully redefined the resulting fiscal deficits as entailing cuts to public spending and social protection.

The government perceives that curtailing public spending and lowering the deficit is key for stabilizing the economy.

This is the real background to this summer's Spending Review - living standards falling, growth flatlining, a deficit reduction plan wildly off track and a coalition forced to extend cuts to public services into the next parliament.

In August 2011, unable to come to an agreement on whether the best way to combat the deficit was to repeal tax - breaks for the rich — introduced by George W. Bush and supported by the Republicans — or to reduce public spending defended by the Democrats — the two parties made an unpalatable deal.

This lower deficit is delivered by our public spending plans and we are going to stick with those plans.

Of course, it is true that population growth of any kind puts pressure on infrastructure, but in reality falling investment in public services represents a political choice by the current Conservative government, which has opted to spend the tax revenues generated by immigrants and refugees on tax cuts for businesses and reducing the deficit rather than expanding healthcare and education provision.

The deficit reduction programme takes precedence over any of the other measures in this agreement, and the speed of implementation of any measures that have a cost to the public finances will depend on decisions to be made in the Comprehensive Spending Review.

The quickest way to bring down the deficit would be to wage a war on waste in the public sector so that public spending is brought back under control once again.

This is a tough and difficult situation that the economy is in, but the one thing we mustn't do is abandon public spending and deficit reduction plans because the solution to a debt crisis can not be more debt.

Take the issue of public spending cuts to reduce the Budget deficit.

George Osborne's plans to cut public spending to reduce the deficit would be «devastating» for the UK, Business Secretary Vince Cable has claimed.

Austerity is purely aimed at reducing public spending which in turn will reduce the deficit - in theory.

Even if there were no deficit, we should still reduce public spending because at close to 50 % of gross domestic product it is too high.

He also partially distanced himself from the policy of Alistair Darling, the previous Labour Chancellor, to make public spending cuts sufficient to halve the government deficit in four years, by calling it a starting point.

«Indeed, it is one thing to respond to a record deficit after a long period of rising public spending, as we have since 2010.

In 2010 he announced that the main priority of the coalition was to eliminate the public deficit by 2015 and that this would be achieved through a draconian programme of public spending cuts.

The governor raised the specter of the unprecedented furloughs late last month as he expressed frustration with the Legislature's refusal to cut state spending as well as the refusal of the public - employee unions to agree to concessions to help close a looming $ 9.5 billion budget deficit.

This is the conclusion of my paper, Free Universities, that the government's claim that «our student finance reforms will deliver savings to help address the large Budget deficit we were left» was disingenuous at best and that in fact the public spending crisis was used as an excuse to private higher education.

Perhaps best known for advocating that the nation guard against the potential influence of the military — industrial complex, a term he is credited with coining, the speech also expressed concerns about planning for the future and the dangers of massive spending, especially deficit spending, the prospect of the domination of science through Federal funding and, conversely, the domination of science - based public policy by what he called a «scientific - technological elite».

Politicians are falling over themselves to tell us how hard, how fast and how deep they will cut public spending in order to rein - in the spiralling Budget deficit.

«This is a tough and difficult situation that the economy is in, but the one thing we mustn't do is abandon public spending and deficit reduction plans because the solution to a debt crisis can not be more debt,» he added.

Labour also said today they would pledge better value for public money while making no big spending commitments in a bid to reduce a record budget deficit.

One point eight million television views tune in to watch the three men vying to be chancellor after the next election clash over the public deficit, taxation policy and spending cuts.

He said the deficit was still too high, which is why public sector workers face another year of pay restraint and welfare spending will be capped from 2015.

He added: «They have stuck at it but deficit reduction has come at the cost of an unprecedented squeeze in public spending.»

-- Once recovery is assured, the elimination of the structural deficit through a series of progressive tax rises and cuts in wasteful public spending

If this is true (and it hasn't been denied), it does reveal that New Labour were also planning to tackle the deficit overwhelmingly through public spending cuts, albeit slightly less so than the Tories.

10:45 - Poll after poll shows the public accept both ideas: that the deficit must be reduced, which will mean cuts to public services, but also that no confidence means no spending, no spending means lay offs, and lay offs mean a higher unemployment benefit bill, among other things.

«If we do not implement these changes it will be impossible to rally people behind public sector spending cuts and any serious attempt to cut the deficit will fail.»

The government seeks to take money out of the economy by public spending cuts and tax increases to reduce the budget deficit.

The public is divided, split down the middle, on the merits of deficit reduction if it means cuts to spending on public services.

During his Labour leadership campaign, Jeremy Corbyn claimed # 120bn could be recovered from tax avoidance and evasion - enough to eliminate the UK's budget deficit without cutting welfare or public spending.

«His aim to half the deficit still leaves us with crippling interest payments at the expense of future public spending.

We have therefore agreed that there will need to be: - a significantly accelerated reduction in the structural deficit over the course of a Parliament, with the main burden of deficit reduction borne by reduced spending rather than increased taxes; - arrangements that will protect those on low incomes from the effect of public sector pay constraint and other spending constraints; and - protection of jobs by stopping Labour's proposed jobs tax.

Instead the Chancellor's opponents must put the case for civilised levels of public spending in general and a more flexible approach towards the deficit, a bigger argument that would legitimise their opposition to specific cuts.

The opposition wants to spend the cash from the City on tax credits, cutting the deficit, spending on public services, the bits of the regional growth fund Miliband likes, and even turning empty shops into cultural community centres.

Some 94 per cent believe that the deficit in the public finances should be tackled more by cutting spending than raising taxes, while only 2 per cent disagree.

Blair rejected suggestions that he had allowed Brown to go on a spending spree over tax credits and public services that has allowed the deficit to spiral out of control.

Miliband: yes, mansion tax and attacks on non-doms, energy companies and unscrupulous landlords, but also tougher immigration controls, continuing deficit reduction and curbs on public spending.