Canada says expensing total value of auto loans

Newswire

(Figures in U.S. dollars, unless otherwise noted) OTTAWA, May 27 (Reuters) - The Canadian government is for now booking the entire amount of loans or expected loans to struggling North American automakers as deficit-boosting expenditure, officials said on Thursday. That would help explain a good portion of the C$16 billion ($14.4 billion) increase in the projected budget deficit for the current fiscal year, announced by Finance Minister Jim Flaherty on Tuesday. In the case of Chrysler ...

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