This article was last updated on April 16, 2022
Canada: 
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The Finance Minister of Canada, Jim Flaherty, clearly laid out a transparent outline of what shall Canadians expect in the next year’s federal budget. He announced that assuredly there will be no more new “risky” spending schemes and no tax hikes.
Only a few days after Flaherty’s department announced that their fall economic update predicts that deficit will not be tackled until 2016-17, Flaherty specifically corrected himself and alleged that the current government still, however, has intentions of balancing the budget before the next election in 2015.
Flaherty was addressing the Toronto Board of Trade on Thursday, when he evaluated the past economic record of his Conservative government and discussed the upcoming budget of 2013 budget. He said that “in uncertain global economic times, one of the most important contributions a government can make to bolster confidence and growth in our country is to maintain a sound fiscal position.” He added that “that’s exactly what we’re committed to doing.” Flaherty shared that the budget will definitely include action against “spur venture capital” with the aim of fostering more innovation in the economy to create jobs.
Flaherty also pointed out that the government has found out some things which it does not plans to do. He said that “we won’t engage in dangerous and risky new spending schemes. We won’t engage in endless spending to increase deficits. And we won’t increase the tax burden on Canadians.” Flaherty alleged that we will not entertain if “some special-interest groups will call for more spending, a special tax break, a new program, or bigger government.”
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