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Ottawa, November 29, 1995
1995-097

Sales Results Announced for 1995 Canada Savings Bonds

Finance Minister Paul Martin today announced that gross sales of the 1995 Series of Canada Savings Bonds totalled $4.6 billion. After allowing for redemptions of past series since the beginning of October, the amount of net new funds raised totalled $3.4 billion.

"Canada Savings Bonds provide both an excellent investment opportunity for Canadians and a cost-effective source of domestic financing for the federal government," Mr. Martin said. Although gross sales were lower than last year, the amount of net new funds raised is in line with the average of $3.2 billion raised over the five previous years (see attached table).

The $4.6 billion in gross sales this year includes $1.6 billion purchased through the Payroll Savings Plan. "I want to thank employers and organizers across the country for their co-operation in offering employees the opportunity to purchase Canada Savings Bonds through the convenient Payroll Savings Plan," Mr. Martin said.

The 1995 Canada Savings Bonds issue is part of the government's retail debt strategy to give Canadians greater opportunities to invest in their country. A new organization has been established to develop, market and distribute an expanding range of secure and competitive financial products to meet the evolving needs of Canadian savers and investors.

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For further information:

J.R. LaBrosse
Department of Finance
(613) 992-9214

Canada Savings Bonds

Gross Sales and Net Funds Raised during the Campaign Period