‘The budget is not structurally balanced’

Kevin Page issues his latest report.

Canada’s economy will not fully recover until 2013 and the federal government will carry a structural budgetary deficit of C$19 billion ($17.6 billion) after the crisis, a report by the parliamentary budget officer said on Monday …“PBO calculations continue to suggest that the budget is not structurally balanced over the medium term,” the report said. “PBO estimates that the structural balance would deteriorate from essentially a balanced position in 2007-08 to an C$18.9 billion structural deficit in 2013-14.”