November 21, 2018 / 9:20 PM / a year ago

Canada unveils investment tax break, C$18.1 bln budget deficit forecast

OTTAWA, Nov 21 (Reuters) - Canada will allow businesses to write off more of their capital investments to make them more competitive, Finance Minister Bill Morneau said on Wednesday as he unveiled a budget update that projected a C$18.1 billion deficit for 2018-19.

The projected deficit for this fiscal year was smaller than a revised C$18.8 billion projection in the February budget. (Reporting by David Ljunggren; Writing by Fergal Smith; Editing by Peter Cooney,)

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