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Vaughn, Ontario, Canada (AHN) – Finance Minister Jim Flaherty assured Canadians that the federal government will have a balanced budget by 2015. He based his bold forecast on Ottawa’s two-year $60-billion stimulus program.

Flaherty said that the removal of the deficit within the next four years will happen as a result of the Economic Action Plan that will create 222,000 jobs brought about by tax reduction, unemployment benefits, infrastructure spending and industry support.

He said the new employment prospects will be spread in utilities with 5,000 jobs, construction 53,000, manufacturing 37,000 and service sector 127,000.

Flaherty stressed that the optimism for a balanced budget is not the result of just a bright outlook and hope, but supported by prudent policies made in the past and fiscal discipline.

The finance minister was, however, questioned by former Finance officials Scott Clark and Peter DeVries, who maintained Flaherty’s goal is difficult to attain because of Ottawa’s permanent structural deficit. Their basis is an International Monetary Fund report that Canada will have a small structural deficit equivalent to 0.2 percent of the country’s gross domestic product in 2015.

Canada’s eyes are on the budget as the minority-led Conservative government tries to convince MPs to support the federal budget. Opposition groups are hinting of a March election if the Tories fail to have Parliament pass the budget.

However, despite the budget deficit problems and the opposition’s portrayal of the current administration as inept, polls show the majority of Canadians would still prefer a Tory minority government than a coalition government. The survey said 55 percent of voters want a Conservative majority over 45 percent who prefer a coalition between the Liberals and the New Democratic Party.

The pollsters attributed the survey results to Canadians’ bad experience with coalitions.

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