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Page last updated at 16:33 GMT, Friday, 4 September 2009 17:33 UK

Cutting the deficit the Canadian way

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A senior Canadian politician, who helped reduce his country's huge budget deficit, has told politicians in the UK that 'political consensus' is essential if they want to be successful in cutting Britain's deficit.

Debt levels in Canada reached 9% of GDP by 1993; Britain's deficit is projected to reach 12% by 2010.

The size of the deficit will be a major challenge for whichever party wins the next general election.

Brian Tobin, the former Canadian cabinet minister, has been speaking to Shaun Ley for Radio 4's The World This Weekend about the scale of the challenge he faced.

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