Government plans deficits up to $30 billion: report

Thu Dec 18, 2008 6:54pm EST
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CALGARY, Alberta (Reuters) - Canadian Prime Minister Stephen Harper's government plans a series of budget deficits totaling up to C$30 billion ($25 billion) as part of a stimulus package aimed at protecting the economy, the Canadian Press reported on Thursday.

Quoting an unnamed official, the Canadian Press said cumulative deficits of $20 billion to $30 billion would be over an unspecified number of years.

A Canadian government official who asked to remain anonymous told Reuters the figures in the story were accurate, but would not elaborate.

(Reporting by Jeffrey Jones and David Ljunggren; editing by Gary Crosse)