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Buffer evaporates while risk lingers, warns budget officer

Canada needs new long-term targets after being “thrown completely off-course” by a global recession that derailed efforts to lower the debt-to-GDP ratio to 25 per cent by 2012, says federal Parliamentary Budget Officer Kevin Page… The federal government “must be careful not to take the pedal off too quickly,” stresses Kevin Dancey [FCA], president and chief executive officer of the Canadian Institute of Chartered Accountants in Toronto. The stimulus spending should run its course. “It is delicate balancing act as there is no assurance the economy has entered a period of sustainable recovery,” he says.
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