Flaherty Outlines Federal Budget of 2013

The Finance Minister of Canada, Jim Flaherty, made an announcement on Wednesday declaring that Canada cannot possibly avert the “economic shocks” that may take place elsewhere in the world, so his forthcoming  budget will be a watchful fiscal drawing intended to ultimately reduce the deficit by keeping taxes low and avoiding needless spending.

Flaherty’s announcement was hinted towards advocating that he is not going to give up to the pressure of opposition parties and municipalities, who have demanded to include a major increase in his budget for infrastructure expenditure to repair the country’s aging roads, public transit and water systems. Flaherty stated that “we cannot control the economic shocks that ripple outwards from other nations. We can and will remain focused on the things that we can control.” He was speaking at the Economic Club, where he summarized the government’s priorities while preparing his budget, i.e. expected to released later this month or in March. Flaherty mentioned that “as the minister of finance, I am mindful of the challenges beyond our borders.” He added that “we are in the midst of a very volatile and risk-filled global environment. That’s why our government is remaining squarely focused on the economy.”

Flaherty asserted that the governing Tories have made “unprecedented investments” in infrastructure since 2006, “however, we are facing a continued deficit due to events outside of our control in the European Union and the United States. I must say that no decision has been made in terms of a future infrastructure plan, but any decision will be made in the context of our current fiscal situation.”

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