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NEW - Canada’s Reduced Deficit: The Oil Money Nobody Wants to Credit
Canada's spring fiscal update shows a lower deficit. The revenue driving that improvement comes largely from higher energy prices. Jamie Ellerton and Lindsay Broadhead track the contradiction: a decade of policy aimed at limiting energy investment, followed by a fiscal win nobody wants to attribute to energy.
The sovereign wealth fund announcement lands in that context. Norway's version was built on oil surpluses too large to spend domestically. Canada's version is deficit financed. Ellerton flags the structural problem: the P3 model this fund resembles has repeatedly left taxpayers holding…
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