Federal coffers are overflowing with an $11.2-billion budget surplus -- nearly three times more than predicted -- and Finance Minister Ralph Goodale said he expects the annual windfalls will continue for half a decade, adding up to $54.5-billion by 2010-2011.
That's cash that Ottawa didn't know about at the time of the February budget but predicted in yesterday's $39-billion mini-budget, which will double as an election platform if the shaky Liberal minority government is defeated in the weeks ahead.
The Liberals are proposing to use more than 70 per cent of this future cash to finance its mini-budget.
Buoyed by Canada's good fortune, Ottawa also announced a more aggressive target for shrinking the federal debt to levels not seen since the mid-1970s.
"Canada has gone from economic laggard to leader and we can look forward to the future with tremendous confidence," Mr. Goodale said in his economic update address.