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The offer to support hospital finances "offset my ideological concerns when I realized that a material improvement would occur for patients we serve," he said.
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The money it generated, estimated at 15.4 billion Canadian dollars a year, or $14.5 billion, would finance offsetting income tax reductions and special energy tax credits for the poor.
A theory called "Ricardian equivalence" holds that increases in public saving are cancelled out by falls in private saving as individuals anticipate future tax cuts.A recent OECD study of 16 rich countries between 1970 and 2002 finds that, on average, around half of any improvement in public finances is offset by lower private saving in the short term, and around two-thirds in the long term.
The central bank is also being sought out by banks that are desperate for cheap financing to offset losses.
Should disaster aid, as a matter of sound public finance, be offset by immediate cuts in other spending?
The move is aimed at helping societies access finance and offset the losses they face this year amid plunging real estate values.
For decades, studios have produced their fare with what is called deficit financing: To offset some of the costs during the early years of a program's run, its studio will charge the network a fee for the exclusive right to air it for a period of time.
In December 2001, having reportedly been swayed by Gripen International's generous financing and offset programme, the Czech Government announced that the Gripen had been selected.
External funding and low interest financing were necessary for electric cost-savings to offset finance payments.
But absent the offset financing, this would have been a hard sell.
Big-time athletics, touted to offset financing cuts, has cost Rutgers its academic stature.
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