Flaherty: won't run surplus "at any price"

Wed Oct 29, 2008 1:36pm EDT
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TORONTO (Reuters) - The Canadian government is on guard against structural deficits but it will not engineer a budget surplus "at any price", Financial Minister Jim Flaherty told a business lunch on Wednesday.

While the government has insisted that it is committed to balancing budgets, some economists have warned that Canada could face a deficit of as much as C$10 billion ($8.2 billion) in the 2009-10 fiscal year that begins next April.

($1=$1.22 Canadian)

(Reporting by Frank Pingue, writing by Lynne Olver; Editing by Peter Galloway)

<p>Canadian Finance Minister Jim Flaherty listens to a question during a news conference at Parliament Hill in Ottawa October 23, 2008. REUTERS/Chris Wattie</p>