Reuters: US Dollar Report: Canada's Flaherty: budget cuts reflect fragile economy

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Canada's Flaherty: budget cuts reflect fragile economy Mar 30th 2012, 18:11 TORONTO, March 30 | Fri Mar 30, 2012 2:11pm EDT TORONTO, March 30 (Reuters) - Canadian Finance Minister Jim Flaherty said on Friday that moderation was needed when he made cuts in the government's 2012-13 budget because the world economy is fragile and is vulnerable to more shocks stemming from the European debt crisis. The government opted for a slow road to a balanced budget and kept spending cuts relatively mild in a cautious budget on Th ursday. The budget w as nonetheless packed with controversial reforms that ranged from raising the retirement age to fast-tracking approvals for big oil and mining projects.

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