Finance Minister Jim Flaherty says the unexpectedly large economic crisis, and government spending to correct it, are to blame for his underestimated deficit projection. His prediction for this year’s deficit climbed from $33.7 billion to $50.2 billion, an increase the Liberals say he should have seen coming. Flaherty called the Liberals hypocrites for criticizing him while calling for more spending, and has also stressed that the government will end its deficit-financing in 2013. The Liberals call this completely unrealistic.
Flaherty blames the economy
Finance Minister says government can return to surplus by 2013
FILED UNDER: Canada