Freeland’s fiscal update pledges new guardrails to keep deficits in check
OTTAWA – The Liberal government’s fall economic statement acknowledges the cost-of-living crisis weighing on Canadians but offers few new measures to tackle it while pledging to keep deficits in check.
Finance Minister Chrystia Freeland presented her fiscal update in the House of Commons on Tuesday, stressing the pressure inflation and a slowing economy are putting on federal finances.
At a time when the Liberals are facing pointed criticism from the Opposition Conservatives for years of deficit spending, the update outlines new guardrails to demonstrate fiscal restraint.
Canada’s debt charges are ballooning as Freeland tables a gloomy fall economic statement
The cost to service the federal government’s sizeable debtload will spike in the years ahead — and those public debt charges will eat up much more of Ottawa’s revenue than they have in recent years, according to Finance Minister Chrystia Freeland’s fall economic statement, tabled today.
Freeland’s document suggests Canada will avoid a recession but predicts economic growth will slow to a crawl. Unemployment is set to rise nearly a full percentage point next year and tens of thousands more people could be out of work.
Billions for home building back-loaded, deficit projected at $40B in 2023-24: fall economic statement
OTTAWA – The federal government’s fall economic statement presented by Deputy Prime Minister and Finance Minister Chrystia Freeland on Tuesday includes billions of dollars in new spending and targeted policy measures aimed at increasing Canada’s housing supply in the years ahead, with the deficit projected to be $40 billion in 2023-24.
Noting Canadians continue to feel the squeeze of inflation and high interest rates in their everyday lives, while increasingly becoming preoccupied about their looming mortgage renewals, Freeland’s fiscal update is focused on responding to two pressing challenges: affordability and accelerating home building, while trying to maintain a degree of fiscal restraint.
Ottawa loosens mortgage stress test in housing-focused fall fiscal update
Homeowners fretting about paying more on their mortgages at renewal could soon have more power to shop around for a better rate, thanks to a package of housing affordability measures proposed in the Liberals’ fall economic statement.
6 key take-aways from the Trudeau government’s fall fiscal update
Freeland’s economic update pledges to cap future deficits at 1 per cent of GDP
