Posted AT 5:09 PM EDT on 27/09/07
Ottawa pledges tax cuts as surplus soars
The Canadian government racked up a monster surplus of about $14-billion for the last fiscal year, Ottawa reported Thursday.
It said it has used the surplus to retire national debt and will funnel the $725-million interest saved as a result to Canadian taxpayers through tax cuts.
That is a break of about $30 to $40 per tax filer in annual savings, depending on how it is allocated.
That surplus far exceeds the $9.2 billion forecast in the last budget.
The full text of this article has 800 words.
To continue reading this article, you will need to purchase this article.
Already have a member account? Login now
Pay-Per-View Offers To read the complete article, select one of the following options
Purchasing from globeandmail.com is quick and secure.
