Finance Minister Jim Flaherty safeguarded Canada’s status as the only Group of Seven country with a stable top credit rating after releasing a fiscal plan that eliminates the country’s deficit in two years.
Canadian Finance Minister Jim Flaherty plans to eliminate the country’s deficit before the next election in 2015 by limiting spending growth to the slowest pace since the 1990s and banking on an accelerated recovery.
Thomas Mulcair, deputy leader of Canada’s opposition New Democratic Party, said Finance Minister Jim Flaherty should support efforts by some of his Group of Seven peers to tax the financial system, particularly the idea of a levy on financial transactions.
George Osborne sprang a surprise with his choice of Mark Carney as Bank of England governor yesterday. He got a surprise of his own a few minutes later when Labour’s Ed Balls had only praise for the chancellor’s decision.