Canada to Balance Books Even With Dramatically Lower Oil Prices

Even dramatically lower oil prices will not prevent the Canadian government from balancing its budget next year, Prime Minister Stephen Harper said on Tuesday.

 

"You should be under no doubt that the government will balance its budget next year. We are well within that range. Even with dramatically lower oil prices, we will balance the budget," he told reporters in Quebec City.

 

"The only question will be how much flexibility we have in the short term. This will obviously reduce some of our fiscal flexibility but it will not by any means stop us from reaching a balance and at the same time...making the important investments we've made."