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Budget analysis by Bank of Montreal weighs Canada's 1940 plan
The Bank of Montreal’s Business Review examines Canada’s 1940 budget and its link to cyclical taxation theory. It notes a contrast with 1948, where deficits funded debt reduction and tax relief aimed to stabilize demand. The piece questions the budget’s ability to smooth cycles, flags deflation risks, and discusses broader social costs and tax changes.
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Canada
Bank of Montreal
Lates Business Review
B of M