Canada to introduce balanced budget law
TORONTO (AP) — Canada’s government says it will introduce a law requiring a balanced budget during normal economic times.
Prime Minister Stephen Harper’s Conservative government announced the proposed law in a speech in Parliament on Wednesday that outlines the government’s priorities.
The government says it will introduce concrete timelines for restoring a balanced budget after an economic crisis.
The government says the deficit is less than forecast and it plans to balance the budget by 2015.
The Harper government also says a lack of pipelines threatens to strand resources at a time when global demand for Canadian energy is soaring.
Harper has said he “won’t take no for an answer” if President Barack Obama rejects the controversial Keystone XL pipeline to the U.S. Gulf Coast.