June 5, 2008 / 2:55 AM / in 10 years

Canada won't run budget deficits, Flaherty says

TORONTO (Reuters) - Canada’s federal government will not run a budget deficit, Finance Minister Jim Flaherty said on Wednesday, responding to a report by the Organization for Economic Co-operation and Development.

<p>Canada's Finance Minister Jim Flaherty speaks during Question Period in the House of Commons on Parliament Hill in Ottawa June 4, 2008. REUTERS/Chris Wattie</p>

“What the report said is that overall, governments in Canada might run deficits this year and next. Certainly the federal government will not,” he said.

The report said there could be a small deficit if provincial budgets are taken into consideration.

Reporting by David Ljunggren, writing by Cameron French; Editing by Peter Galloway

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