CANADA’S FINANCES
Debt Nearly All Domestic (Received June 27, 9.30 p.m.) OTTAWA, June 26. The Minister of Finance, Mr. Ilsley, presenting the Budget for the financial year ended March *3l, said that the total revenue was 2,8u5,701,000 dollars, and the total expenditure 5,360,122,000 dollars, but the total cash requirements for the year were 5,841,000,000 dollars greater than the total expenditure, because of advances on war purchases, payment of indebtedness abroad and the purchase of securities for adjustments. The year s cash deficiency totalled 2,935,000,000 dollars. . , Canada's gross unmatured funded debt amounted to 10,689.000,000 dollars on March 31, of which 97 per cent, was held in Canada, the annual interest charge being 274,000,000 dollars, at an average interest rate of 2.57 per cent. Mr. Ilsley said that though the debt had increased, national income had almost doubled sinee the war began. The debt was almost wholly domestic. Interest payments were distributed among 60 per cent, of the income-earners of Canada. The budgetary deficit for the four years of the war totalled 2,659,000,000 dollars.
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Dominion, Volume 37, Issue 232, 28 June 1944, Page 5
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172CANADA’S FINANCES Dominion, Volume 37, Issue 232, 28 June 1944, Page 5
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