Canada's Flaherty vows against deficit

Thu Jun 5, 2008 2:48pm EDT
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OTTAWA (Reuters) - Finance Minister Jim Flaherty vowed on Thursday that the government would not fall into deficit, despite a report by the OECD on Wednesday that warned of that possibility.

"This government will not run a deficit," Flaherty told Parliament.

He said the OECD report, which reported a risk of deficits in 2008 and 2009, referred to all levels of government in Canada, not just federal, and that it also referred to a different accounting system.

(Reporting by Louise Egan; editing by Rob Wilson)