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46 Tax Memo 1 (1968)

handle is hein.journals/taxmmo46 and id is 1 raw text is: TAX MEMO June, 1968 © 1968, Canadian Tax Foundation PROVINCIAL FINANCES, 1967-68 With this memo, we bring up to date our biennial publication, Provincial Finances, last issued in 1967, by adding the provincial revenue and expenditure estimates for fiscal year 1967-68. This is being released just after the provincial budgets for the 1968-69 fiscal year have been presented. The delay in publishing the 1967-68 analysis is inevit- able if we are to present figures for all ten provinces that are comparable, for we rely on the Dominion Bureau of Statistics' compilations of provincial estimates which were released in Feb- ruary of this year. We have included a summary of the 1968-69 provincial budgets, but this information is not comparable to the D.B.S.-based material. Throughout our analysis, we use the Bureau's concepts of net general revenue and net general expenditure which com- bine both ordinary and capital account transactions, adjusted according to pro- cedures developed through federal-pro- vincial consultation. Consequently, some of the figures shown in this publication will differ from those presented in pro- vincial budget statements or Public Accounts. In particular, the differences between net general revenue and net general expenditure do not necessarily indicate budgetary surpluses or deficits, but they must be interpreted within the conceptual framework of the D.B.S. analysis. Total net general expenditure (exclud- ing provision for debt retirement) for It had been planned to include in this issue an analysis of provincial debt. As the data for March 31, 1966, will not be available from D.B.S. until late July, we have not included this section. When the D.B.S. debt figures are available, they will be incorporated into our debt analysis which will then be issued as a supplement to this TAx MEMO. Additional copies of this Memo may be obtained at a price of 25¢. CANADIAN TAX FOUNDATION L'ASSOCIATION CANADIENNE D'ETUDES FISCALES No. 46

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