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Borrowing Authority

Borrowing powers may be needed when there is a shortfall between government expenditures (as authorized by Parliament in the main and supplementary estimates and in interim supply) and government revenues (projected levels of which are also approved by Parliament).

The Government borrows principally by issuing treasury bills, marketable bonds, and Canada Savings Bonds, on domestic and foreign markets.

Borrowing authority is consolidated into one general provision of the Financial Administration Act, under the authority of the Governor in Council.

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