OTTAWA – “Many of my constituents have expressed concerns about the federal deficit,” stated Leon Benoit, Member of Parliament for Vegreville-Wainwright. “I am pleased to report that not only are we on schedule to a balanced budget, but we are ahead of schedule for this year’s target.”
“From 2006 to 2008 we paid down over $37 billion in debt, which I believe placed Canada in the best position possible to weather the global recession,” said Benoit.
During the global recession all parties in Parliament agreed to run a temporary deficit in order to protect the economy and jobs.
“In the past two years, our government has managed to cut the deficit in half by ending our targeted and temporary stimulus as planned and controlling growth in spending,” Benoit explained.
Benoit went on to say that the majority of savings will come from eliminating wasteful spending in the government’s internal operations.
“As promised, our government will not raise taxes or cut major transfers to people such as seniors and children or other levels of government like health and education,” Benoit said. “In fact, we will return to balanced budgets while continuing sustainable increases to health and educations transfers and transfers for other social programs.”
Benoit concluded by stating, “This budget is intended not only help Canada return to budgetary balance but also to ensure Canadians enjoy long term prosperity for years to come.”