Canada to introduce balanced budget law

TORONTO (AP) - Canada's government said Wednesday 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 that outlines the government's priorities for a new session of the House of Commons.

The government said it will introduce concrete timelines for restoring a balanced budget after an economic crisis.

The government said the deficit is less than forecast and it plans to balance the budget by 2015.

Harper has been in power since 2007. He has managed to nudge an instinctively center-left country to the right, gradually lowering sales and corporate taxes, avoiding climate change legislation and promoting Arctic sovereignty. He has also upped military spending, extended Canada's military mission in Afghanistan and staunchly backed Israel's right-wing government.

The government also reiterated Wednesday that 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 U.S. President Barack Obama rejects the controversial Keystone XL pipeline to the U.S. Gulf Coast. The pipeline is critical to Canada, which needs infrastructure in place to export its growing oil sands production. The northern Alberta region has the world's third largest oil reserves, with 170 billion barrels of proven reserves.

The government also said it will confer honorary citizenship on Pakistani teen Malala Yousafzai who survived a Taliban attack on her school bus in October 2012.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Top Stories

  • Failing
    So far, it's good news for car tab fees in King County, and bad news for bus riders

  • 21 & Over
    There's a push to raise the age to from 18 to 21 in order to legally buy tobacco

  • Suing The Seahawks
    A Seahawks fan sues for $50 million over limiting playoff ticket sales
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know a student who stands out in the classroom, school and community?
Help make their dreams come true by nominating them for a $1,000 scholarship and a chance to earn a $10,000 Grand Prize. Brought to you by KIRO Radio and Comprehensive Wealth Management.

Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.