The leader of the conservative Canadian party, Andrew Scheer, has decided to give up a previous commitment to balance the budget within two years if elected, saying that the liberal government of Prime Minister Justin Trudeau has made it impossible to do so responsibly.
In a speech on his economic policy he will deliver to the Canadian Club of Vancouver, British Columbia, on Friday, the CBC confirmed that Scheer will promise to make a balanced balance part of its platform, but within about five years instead of two.
"In the last three years Trudeau has made an even bigger budget than I thought possible … All this made it impossible for anyone to immediately and responsibly balance the budget," according to the text of Reuters' speech on Thursday.
"Even the most optimistic projections do not have the liberals who balance the budget for another 20 years … But if Canadians elect a conservative government this fall, we will balance the budget in about a quarter of that time," reads the text.
Scheer, 40, is challenging Trudeau in a national election set for October and the polls show him to be slightly ahead. In recent weeks, Scheer has begun to outline some of its foreign and economic policies.
In 2015, Trudeau promised to balance the budget within this year, which he did not. But even with the deficit, Canada's net debt / GDP ratio is lower than its rivals and the G7 debt, as it is expected that a share of production will decline in the coming years from around 31 percent at the moment.