This article was last updated on April 16, 2022
Canada: 
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The Finance Minister of Canada, Jim Flaherty, indicated during an announcement on Friday that the upcoming budget will most likely be blocking more tax loopholes and also additionally squeezing spending by enforcing federal departments to make a “sacrifice.” Flaherty gave these remarks after acknowledging some recent fingers calculated by Statistics Canada illustrating that the country underwent slower than expected economic growth last year. In case economic growth and the gross domestic product remains to be slower this year, the Conservative government might be left with less revenue coming into its reserves.
Flaherty admitted to the developing situation and promised not to compensate the downfall by raising taxes. Additionally, the finance minister reiterated his intent to eliminate the deficit by 2015, while highlighting that it will need an utterly disciplined plan to control government spending. Flaherty alleged that “we watch for places where we can save taxpayers’ money in the government of Canada.” He added that “we watch our revenue side carefully to make sure everybody has paid their fair share of taxes. And we look at programs that have run their course, quite frankly, that no longer are large priorities for the government of Canada.”
Flaherty elucidated that he will not be announcing the budget date as yet, even though it is highly anticipated to be sometime in March. Flaherty stated that “we will control our own spending and we will stay on track to a balanced budget.”
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