Conservatives vow surpluses through 2013

Tue Oct 7, 2008 1:04pm EDT
 
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OTTAWA (Reuters) - Canada's governing Conservative Party unveiled a C$8.67 billion four-year program of new spending on Tuesday and promised to stay in surplus through the 2012-13 fiscal year despite the worsening global crisis.

Although the platform for the Oct 14 election is based on revenue projections made in the government's February 2008 budget, senior Conservative officials said it is still valid.

"We feel it's prudent. It is modest," Bernard Lord, Conservative campaign co-chairman, told a briefing. The election platform does not include major tax cuts or spending programs.

The plan foresees a C$2.5 billion surplus in the 2012-13 fiscal year versus the C$5.3 billion surplus forecast in the 2008 budget. The cumulative surplus from 2009-10 to 2012-13 is C$8.03 billion versus a forecast C$16.7 billion.

The forecasts do also not include the C$4.2 billion the government raised in an auction of wireless spectrum airwaves earlier this year.

($1=$1.10 Canadian)

(Reporting by David Ljunggren; Editing by Peter Galloway)