Ottawa, Ontario, Canada (AHN) – Ottawa is planning to put in place massive spending cuts in a bid to give Canada’s economic recover a big push. Federal Finance Minister Jim Flaherty was scheduled to outline the new economic policies in a speech Monday in Oakville, Ontario.

Ahead of his speech, Flaherty hinted there would be bitter pills for Canadians since the new policies would likely not be popular among residents. He insisted the proposed cuts seek to protect Canada’s advancement.

Flaherty stressed the measures are Ottawa’s way of preventing fiscal trouble in Canada similar to what is happening in Ireland. Ottawa plans to return to a balanced budget by 2016 through major cuts in key areas and ending the two-year $48-billion stimulus plan according to timetable.

Over the weekend, Flaherty hosted a consultation with business leaders in Toronto on how Canada’s Economic Action Plan will continue to shape the country’s economic future for next year’s budget. He acknowledged after the consultation that Canadians are concerned with the economy, jobs and their household budgets.

Ottawa is also getting feedback on four key issues from the public through online consultations which started Nov. 19.

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