Canada's center-right government called for the retirement age to be raised and for major public service cuts Thursday, in an austerity budget that aims to balance the books by 2016.Tackling unpopular measures that many industrialized countries are being forced to consider as their populations age, the Canadian government said its budget would help the country move a step ahead.
"Other Western countries face the risk of long-term economic decline. We have a rare opportunity to position our country for sustainable, long-term growth," Finance Minister Jim Flaherty said in the House of Commons.
"Looking ahead, Canadians have every reason to be confident," he said presenting what was dubbed a budget for "the next generation." Read More
