Morneau To Deliver Fiscal Update Amid Worsening Economy

Deficit projections, transfer payments to be part of remarks by finance minister.

As Canada’s economy worsens, with household debt piling up, growth slowing, and abysmal job numbers, finance minister Bill Morneau will be delivering a fiscal update Monday morning.

The update will include updated deficit projections, a report on upcoming transfer payments, and spending estimates.

The Conservatives had called repeatedly for Morneau to deliver a fiscal update, following clear evidence that Canada’s economy is weakening.

Notably, Morneau will be delivering the update outside the House of Commons, meaning the Opposition won’t be able to grill him about it right after. It’s a move that Conservative finance critic Pierre Poilievre called “gutless.”

Spencer Fernando

Photo – YouTube