Harper Claims Shows Good Faith in Balancing the Budget before Elections

This article was last updated on April 16, 2022

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The Prime Minister of Canada, Stephen Harper, has shown a good faith in its government and assured that he still has it on his top priority to eradicate the $26-billion federal deficit before the next federal election, due in 2015. This statement was made regardless of Flaherty’s fiscal update release this week stating that his new projection estimates a surplus budget after 2016-17.

Harper made the official statement on Friday, only a few days after the announcement of Finance Minister, Jim Flaherty, releasing the fall economic update by saying that the federal revenues are even less than projected for 2012-13, as the deficit nears $7 billion. He explained that the situation is worse than projected in the March budget and now it seems that a surplus budget will not be possible until 2016-17, i.e. a year later than the previous projection.

Harper made the announcement while he was announcing the federal funding for the reconstruction of the Grande Allée Armoury in Quebec City on Friday. He stated that “It remains the government’s plan, intention to balance the budget prior to the next federal election.” He explained that “the recent economic and fiscal update by the minister indicates we are actually very close to that objective. We’re not quite where we want to be but we’re very close. To the extent we’re not quite where we want to be, that is not due to the federal government’s management of its own expenditures.”

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