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Affichage des résultats pour les étiquettes 'savings'.
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Alberta's heritage savings fund hit hard The Canadian Press October 14, 2008 at 4:45 PM EDT Edmonton — Falling stock prices have sliced roughly $1 billion from Alberta's rainy-day savings account. Finance Minister Iris Evans told the legislature that the value of the Heritage Savings Trust Fund has been reduced to $16-billion — a drop of roughly 6 per cent since June. But she says the loss is only on paper because the province isn't selling any of the stocks that have lost value recently. Evans is promising a further update on the heritage fund at a public meeting Thursday in Edmonton and again in the second-quarter fiscal update next month. Premier Ed Stelmach has said there's nearly $8 billion set aside in a separate fund that will be used to maintain government programs at current levels if the economy falters. Mr. Stelmach said last week the province is not immune to current market fluctuations, but is “prepared to weather any storm.”
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Desjardins financial grows outside Quebec The Gazette Published: 1 hour ago Desjardins Financial Security, the life and health insurance arm of the $152-billion Desjardins Group, said yesterday that business growth outside Quebec was strong in the second quarter. Premium income was up 6.1 per cent from a year earlier in Quebec, where it already has a large market presence, and rose 16.8 per cent in the rest of Canada. Desjardins Financial has been working hard to build market share outside Quebec, especially for group business. Desjardins Financial also sells group and individual retirement savings products, including mutual funds, and growth in this business came mainly from its new guaranteed investment contracts. "We continue to gain ground in an extremely competitive insurance market," chief operating officer Richard Fortier said. Second-quarter net income was $59.3 million vs. $68.4 million a year earlier.
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Ottawa pledges tax cuts as surplus soars STEVEN CHASE Globe and Mail Update September 27, 2007 at 1:02 PM EDT 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. Prime Minister Stephen Harper congratulates Finance Minister Jim Flaherty on March 19 after the government's budget speech. It is an embarrassment of riches for the Conservative government of Prime Minister Stephen Harper, which said Canadians were overtaxed when it took office and vowed that there would be no more surplus surprises. Ottawa's coffers are swollen by extra personal and corporate income-tax revenue generated by richer profits from a commodity boom. By law, all this excess cash – $14.2 billion – has been used to pay down Canada's debt and is not available for spending. However, the interest savings generated by the debt paydown – a fraction of the overall surplus – will be used to fund tax reductions, as promised by the Harper government. The surplus hit $13.8-billion and Ottawa ultimately reduced its debt by $14.2-billion last year, the government announced.
