World

Canada will stay in deficit as long as needed: Harper

by Karl Gotthardt - albertacowpoke | July 10, 2009 at 06:49 pm

211 views | 52 Recommendations | 5 comments

Meeting with reporters after the G8 leaders meeting, Canadian Prime Minister Stephen Harper of Canada said that he would keep budget deficits as long as needed. He warned that it was too early for world leaders to unwind stimulus packages.

Harper said that he would not adhere to a five year timetable if that meant tax increases or balancing the budget.

"We will allow the deficit to persist if necessary," Harper said today. "We will not, in order to meet some timetable, start raising taxes and cutting programs. That's a very dumb policy.

Canada's economy and unemployment rate fares better the most in the G8.

It is worthy of note that Canada has met its commitment to Africa despite this crisis.

He also said that he wanted to be clear that he would not cut programs in order to meet his five year plan to reduce the deficit.

Canadian Prime Minister Stephen Harper said his government would keep budget deficits as long as needed to spur growth, and warned it's too early for world leaders to start unwinding stimulus packages.

Mr. Harper, speaking to reporters in L'Aquila, Italy after a meeting of leaders from the Group of Eight nations, said he won't adhere to a five-year timetable to balance the budget if that requires tax increases or reducing spending.

"We will allow the deficit to persist if necessary," Harper said today. "We will not, in order to meet some timetable, start raising taxes and cutting programs. That's a very dumb policy."

0 See all footage | View Slideshow

Share: email story | add to any | | facebook | stumbleupon

recommend This comment thread is now closed

Babel-Fish

at 19:57 on July 10th, 2009

yep such dumbness can not be very popular to the voters

Albert Milliron

at 23:32 on July 10th, 2009

Thanks for the Heads-up on Canadian Politics

Alexia_G

at 02:43 on July 11th, 2009

As revenue decline, the government budget became at stake. Apparently we can’t expect high revenue since recession is not yet over, there is more revenue when there is economic stability. Revenue came from the taxes being paid by the business sectors, I resume you are aware that most businesses stumble as recession struck the whole world. To sum it up we are on the peak of recession. Everything’s when it come to profit or income tends to decline. Anyway have you heard about Big Green Egg. There are recipes and blogs popping up all over the internet with instructions and recipes for making everything from barbecued pork to baking bread to home made pizza on the Big Green Egg, and it might just be worth some short term loans to get one.