Posted by & filed under Advanced Accounting, Canadian Government.

Description: This year represents the 150th anniversary of confederation for Canada. And both the previous Conservative administration and the current Liberal government have been piling up the cash to help the celebration along. All told, $500 million has been budgeted to commemorate the anniversary in various forms. Meanwhile, the Department of Finance is predicting the federal government will not return to surpluses until the 2050s.

Date: January 6, 2017

Source: theglobeandmail.com

Link: http://www.theglobeandmail.com/opinion/editorials/why-exactly-are-we-spending-500-million-on-an-anniversary/article33528594/

Discussion Points:

1) Were you aware that this was Canada’s 150th birthday?

2) What do you think of the plan to essentially borrow $500 million to celebrate the sesquicentennial while forecasting deficits for years to come?

3) How would the Government of Canada account for this $500 million in spending in its financial statements?

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