Bloomberg News

Canada Budget Office Says Action Needed to Avoid Rising Debt

September 29, 2011

Sept. 29 (Bloomberg) -- Canadian governments will need to make “permanent and immediate fiscal actions” totaling 2.7 percent of output in order to ensure the nation’s debt levels don’t rise above current levels, the country’s parliamentary budget office said in a report today.

The Palriamentary Budget Office released a report on fiscal sustainability that estimated an ageing population will slow growth and boost health-care costs and elderly benefits that would increase combined government debts to more than 400 percent of GDP by 2082 without new increases in taxes or spending cuts. The report was released on the agency’s website.

To contact the reporter on this story: Theophilos Argitis in Ottawa at targitis@bloomberg.net

To contact the editor responsible for this story: Paul Badertscher at pbadertscher@bloomberg.net


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