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Federal coffers fattening

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Published: May 24, 2001

The federal government had recorded a surplus of almost $20 billion by the end of March, 11 months into its fiscal year.

That had dropped to $15 billion by the end of April, finance minister Paul Martin said May 17.

According to finance department figures, agriculture was playing its part in building a surplus.

Figures published May 17 indicated that by the end of March, subsidies and other transfers to agriculture totaled $1.23 billion.

Even with a sharp increase in March, the 11-month totals indicated a 20.5 percent decrease from spending the previous year.

Government expenditures on agricultural subsidies and transfers to the end of March 2000 had totaled $1.55 billion.

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