Freeland announces date for Ottawa’s long-awaited mini budget

Federal Finance Minister Chrystia Freeland announced Monday that the long-awaited fall economic statement will be released next week.

 

In a statement posted online, Freeland said the fiscal statement would be revealed on Dec. 16.

 

“We are building four million more homes, making life more affordable for all Canadians, and growing the economy to create more good jobs,” she said. “I look forward to presenting the next steps in our economic plan to deliver a good middle-class life for everyone.”

 

The fiscal update, sometimes considered a mini-budget, is coming later than usual. The government has also not unveiled the public accounts, an annual audited statement of the previous year’s government finances that is usually released in October.

 

A filibuster in the House of Commons has prevented the government from moving any new legislation. The fiscal update often includes new legislation, but it can simply be a statement on the government’s finances.

 

During a press conference Sunday, Conservative Leader Pierre Poilievre suggested the government’s long delay was about hiding a worsening economic picture.

“Normally, governments love to introduce fall updates because they are gigantic opportunities to advertise all the good things the government is doing,” he said. “If you’re not doing any good things, then you probably don’t want anybody to know about it. And that is in fact the case of this government. The reality is that Chrystia Freeland and Justin Trudeau have lost control of the finances.”

 

The House of Commons will vote on two opposition motions later on Monday. The first from the Conservatives is a motion of non-confidence that has copied language NDP Leader Jagmeet Singh has used previously to call for an election.

 

Singh has said he won’t support the Conservatives’ motion. The NDP are offering a motion of their own, calling on the government to expand their $250 cheque proposal to more Canadians and to make the GST holiday the Liberals are offering permanent.

 

Business groups were pre-emptively calling on Freeland to practice restraint in her fiscal update.

 

“Canada faces significant economic and fiscal challenges, including low innovation and productivity, an aging population, and geopolitical pressures that could disrupt trade flows. In this environment, fiscal prudence is essential,” said Robert Asselin, senior vice president, with the Business Council of Canada.

He said the government has not consistently kept to fiscal targets and that needs to change.

“Unfortunately, this government has consistently failed to meet its fiscal targets and lacks a coherent strategy to foster private investment.”

 

 

 

This article was first reported by The Star