Canada to Cut Taxes, Reduce Debt

Prime Minister Jean Chretien's newly elected government is going ahead with plans to make sweeping tax cuts and drastically reduce its debt, based on the country's strong economy and budget surpluses. Social programs will not be affected by the plan. In the third quarter of 2000, the country's economy grew an annualized 4.8%, consumer spending went up 1.3%, and the current account surplus for the quarter totaled $2.2 billion.
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