Canada says to balance budget without tax hikes

Mon Jun 15, 2009 3:03pm EDT
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OTTAWA (Reuters) - Canadian Finance Minister Jim Flaherty vowed on Monday to balance the federal government's budget by 2013-14 and said he would do so without raising taxes or radically cutting spending.

The government released a budget update last Thursday saying the deficit in 2009-10 would be C$50.2 billion ($44.3 billion) but the report contained no timeline for balancing the books again.

Flaherty had later said the government was sticking to its original plan of returning to surplus in five years.

(Reporting by Louise Egan; editing by Rob Wilson)