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Friday, March 21, 2014

Harpers in over his head ...... Flaherty's legacy

Corporate Canada's cash hoard exceeds national debt

This is quite a milestone.

The amount of cash held by private non-financial corporations in Canada stood at $626 billion in the fourth quarter of 2013, up from $591 billion in the third quarter, according to Statistics Canada.

The big jump means corporate Canada's accumulated stock of cash now exceeds the federal government's accumulated deficit, Erin Weir, an economist with the United Steelworkers union, points out. (The national debt stood at $612 billion at the end of 2013.)

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