Forgot your account information?  |  Create a CME account

Deficit reduction may take longer than expected

Published by Steve Coleman on September 28, 2011

The Parliamentary Budget office has given the federal Conservatives longer odds they'll balance the budget in three years.

Projections done since the global economy's future got a little cloudier say it may take longer than the 2014-15 target to bring the books back into the black.

Canada's growth rate has been scaled back because of worries about a possible European recession and a flat US economy. Along with that are concerns lower demands for resources could give the Canadian economy a hit.

In June, Finance Minister Jim Flaherty forecast a 2011-2012 deficit of $32.2 billion, down from $36.3 billion last year.

The federal government hopes to find at least $4 billion in excess spending to trim to help balance the books.

Found in: news

National Office

Alberta British Columbia
Manitoba New Brunswick
Newfoundland & Labrador Nova Scotia
Ontario Québec
Prince Edward Island Saskatchewan