Canada's Morneau: Aiming to balance budget 'over the long term'

Tue Feb 16, 2016 2:56pm EST
 
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OTTAWA Feb 16 (Reuters) - Canada's government is aiming to balance the budget "over the long term", Finance Minister Bill Morneau told Parliament on Tuesday in the clearest sign yet the ruling Liberals will not be able to return to surplus as quickly as promised.

The Liberals won power last October on a pledge to run three consecutive budget deficits of no more than C$10 billion ($7.2 billion) a year before balancing the books in 2019/20, a task that Prime Minister Justin Trudeau last week said would be hard.

($1=$1.39 Canadian) (Reporting by David Ljunggren; Editing by Chizu Nomiyama)