News
National Post - Demographic debt wall; The aging of the population is creating a fiscal squeeze
Published: 24 November 2011
(Op-ed by Chris Ragan, associate professor of economics at 9I制作厂免费): Finance Minister Jim Flaherty recently released the federal government's fiscal update and, as expected, all eyes were on his planned return to a balanced budget. With the slowing global and Canadian economies, it is no surprise that the update projects less tax revenue over the next five years than what was projected in the federal budget only five months ago.
Flaherty's numbers now suggest that the budget will not be balanced until 2015-16, and that achieving this will require finding even more "efficiencies" in government operations and programs - a total of about $15-billion over five years.