OTTAWA - Chief economists from Canada's largest financial institutions say the federal government should not get complacent about its relatively sound fiscal position.
Speaking a luncheon in Ottawa after briefing the Conservative caucus in private, the economists said Canada is fortunate not to be facing the kind of sovereign debt crisis gripping Europe.
But that doesn't mean governments here can continue to spend with impunity.
They say Canada, with an aging population, must get its fiscal house in order before rising expenditures for such things as health-care and lower revenues from fewer people working swamp public finances here as well.
The Conservative government projects it will eliminate the federal deficit in four years if there is no major economic setback.
