The Parliamentary Budget Officer is estimating a $1 billion deficit by the end of its current fiscal year. The Harper government, on the other hand, is predicting a $1.4 billion surplus by budget time in April.

Member of Parliament for Provencher Ted Falk says the government is firmly committed to balancing the budget as promised.

"I think our finance minsters for the past several years have said that we live in a very fragile economic time globally and Canada is not immune to a lot of the effects of the recession around the world," explains Falk. "We certainly, here in Canada, feel the effects of what happens globally and certainly the low oil prices isn't helping the Alberta economy. That reflects somewhat on the Canadian economy as well but our government is firmly committed to a balanced budget."

Falk adds he was surprised the Parliament Budget Officer came out this early with the forecast. Falk says he feels the Universal Child Care Benefit cheques to 3.8 million families are an indication they believe a balanced budget will happen as promised.