The Future of The Program
In 2004, consultants gave the Department of Finance a report suggesting the CSB program be scrapped, giving an overall program cost savings of about $650 million in 9 years. And with record budget surpluses recorded by the Liberal government since 1997, the importance of CSBs to finance the government had waned.
Then-finance minister Ralph Goodale rejected the recommendation, and opted to have the program changed to be more competitive and attract investors. The intentions of the current Conservative government are not known.
Many Canadians still rely on this program for their investment portfolio, and the program is recognized by 2 out of 3 Canadians as their first investments.This program recognition may give potential to an improved and more popular program. This may suggest that the program may not be scrapped for many years to come.
Read more about this topic: Canada Savings Bond
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