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PRUDENT FISCAL CONSERVATISM
Tuesday, September 26, 2006


PRUDENT FISCAL CONSERVATISM

Andrew Sullivan is more than a little disgusted over the Bush administration’s fiscal profligacy. The end of small government conservatism it appears. Well, not so in Canada where the Harper government is extraordinary careful in managing the huge surpluses that the country’s economy keeps spewing out:

The Stephen Harper government racked up a $13.2-billion surplus for last fiscal year, all of which will go toward reducing the national debt.

This is one of the largest single debt repayments in Canadian history. It will help bring Canada's debt down to $481.5-billion.

And:
Finance Minister Jim Flaherty and Treasury Board President John Baird announced the surplus Monday afternoon, when they also announced cuts to government spending this year and next.
It should be noted that this is one brave move in handling the budget, especially considering the fact that Harper and friends are still in minority territory. While throwing the Canadian electorate some appetizing bones - the GST cut in particular – they have remained principled bookkeepers. If following an early election next spring they will get a parliamentary majority the temptation of radically cutting taxes could be too much even for Harper, but judging from these fresh numbers, he has some room.

Posted by Pieter Dorsman at 12:00 AM | DIGG This | del.icio.us | TrackBack (0)