OTTAWA, ON: The Canadian Taxpayers Federation (CTF) is urging the Harper government to honour its election promise made exactly seven months ago to balance the federal budget by 2014-15 and cut spending to get the job done.

“By walking away from the Prime Minister’s promise today, Jim Flaherty has betrayed millions of Canadians who voted for a balanced budget,” said Gregory Thomas, Federal Director of the CTF.

The CTF toured around its National Debt Clock in advance of the recent 2011 Federal Election in order to secure the Prime Minister’s commitment.

“Stephen Harper campaigned on balancing the budget, so he could double Tax-Free Savings Account contributions and extend income-splitting to working couples. If he doesn’t deliver a balanced budget, he’s not going to deliver tax relief. He’s only going to deliver more debt,” continued Thomas. “If Canadians wanted more spending, more taxes, and more debt, they would have voted for it.”

Thomas urged the Harper government to cut costs and balance the budget sooner, rather than later. The Canadian Taxpayers Federation has presented its plan on how to balance the budget in “Zero in Two: Taxpayers’ Deficit Action Plan.”

“We’ve witnessed this past week in Europe and also recently in the United States, that the solution to the debt crisis is not more debt,” stated Thomas. “Jim Flaherty’s refusal to commit to balancing the budget in 2014 is an avowal of failure. It’s like a student in grade ten, giving up on his Grade 12 final exams."