Ottawa (Reuters) - Canada may have to cut its economic and fiscal forecasts, taking into account the European debt crisis and the U.S. economic recovery, choppy, Finance Minister Jim Flaherty said Thursday.
Flaherty will be in the fall of the government in the coming weeks, due to the fiscal update, update the prospects for the federal budget deficit, the private sector experts, government advisory based on on a regular basis, the average growth forecast.
"We expect modest growth in Canada economist tells us to expect moderate growth, as you know, we follow the recommendations (of) the average of a group of private sector economists," Flaherty told reporters.
"We pay close attention, we must have come down, but so far, we are in the same ball park, we expect that in the federal budget," he said.
The March 2012 budget envisaged 2.1% this year and 2.4% growth next year.
International Monetary Fund (IMF) this month lowered its outlook for Canadian growth of 1.9% this year and 2.0% in 2013.
A recent Reuters survey of 20 economists found that they expect to Canada, only 2% growth this year and next year.
Ottawa is also forecast that the budget deficit will be gradually narrowed, and return to a small surplus in 2015/16.
Lower growth may weaken the government revenue may delay the return to balanced books, despite Flaherty believes that it will happen in the "mid-term".
Pension goal
Conservative government spending is also taking measures. It provides an overview of the major reforms, a wide range of public sector pensions legislation submitted to the measures announced in the Budget to Parliament on Thursday, the first by pushing.
Bureaucracy of federal spending cuts, Treasury Board President Tony Clement, who is responsible for the pension for the government to save C $ 260 million euros (about 2.7 billion U.S. dollars), more than five years.
Politicians and new employees in the public sector workers of retirement age rose from 55 to 65, will be responsible for 50% of the pension contributions, to make it more in line with private sector practice.
"We pay our fair share, we believe that the civil servants of the public should pay its fair share," Clement said.
The full impact will not be elected to Parliament until the next election in 2016, and civil servants must abide by 2013.
The budget legislation also extends the mining exploration and development of the small business tax credit tax credit, and the renovation of preferential tax policies for business research and development system, phasing out.
The opposition New Democratic Party criticized the Conservative Party 450 file cramming so many measures, and said more tax measures to create employment opportunities.
Government's approach, this part of the problem is that they suddenly from the budget to the budget, not to the companies they need, what kind of predictability, "said Peggy Nash, NDP spokesman financing.



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