Canadian Tories to present new budget plan

OTTAWA, Sept. 5 (UPI) -- Canadian Finance Minister Jim Flaherty says he hopes to present a plan that will return the Ottawa government to a balanced budget.

The plan is aimed to rescue Prime Minister Stephen Harper's Conservative government before Liberals called elections, The Globe and Mail reported.

Flaherty announced the budget plan just after figures released by Statistics Canada showed a gain of 27,100 jobs in August. This figure came as a surprise.

In his announcement Friday, Flaherty said he's not trying to eliminate the stimulus spending. The injection of federal funds has sent cash into infrastructure projects and other job creation initiatives but it has trickled slowly into the economy and the majority of the impact is not expected to be felt until 2010.

The stimulus is helping to drive this year's projected deficit to $50 billion. The estimate for next year is $40 billion.

Liberal leader Michael Ignatieff said the job gains won't stop his party from trying to unseat the Conservatives.