News

Conservatives call on Liberals to provide ‘urgent’ economic update

Conservatives call on Liberals to provide ‘urgent’ economic update
Canada
A+

OTTAWA — The Conservatives are calling on Finance Minister Bill Morneau to deliver an “urgent” fall economic update, including a plan to get back to balance.

Conservative MP Pierre Poilievre, the finance critic, says he wants to see the Liberal government provide a fiscal update before the holidays that would include tax cuts for entrepreneurs, efforts to get rid of regulatory red tape and a plan to phase out the deficit over the next few years.

Trudeau and Scheer debate Canada’s natural resource investments

The Ottawa-area MP notes the country lost about 71,000 jobs last month, according to Statistics Canada, which was the biggest monthly drop since the financial crisis of a decade ago.

Meanwhile, the American unemployment rate is the lowest it has been in half a century.

Trending Stories

The re-elected Liberals promised during the fall election campaign to reduce the deficit to $21 billion by the fourth year of their mandate, while the Conservatives had promised to deliver a $667-million surplus in 2024-25.

Poilievre says the Liberals have had plenty of time since the October election to prepare a fiscal update.

“The storm clouds of our economy have been gathering overhead for a long time, so if they are this ill-prepared for the trouble that is unfolding, it says something about their ability to govern,” Poilievre told a news conference in Ottawa on Sunday.

Concrete measures for the Prairies will come beyond the throne speech: Rodriguez

Morneau says the first thing the Liberals plan to do is bring in their promised tax cut for the middle class. The economy is resilient, he said in a statement.

“While we will always remain vigilant to any potential risks to our economy, Canada has a stable and resilient financial sector that supports a strong and growing economy — an economy that continues to grow as we work with partners right across the country to address immediate and long-term challenges, including in the resource sector,” Morneau said Sunday.
Read more on globalnews.ca
News Topics :
Similar Articles :
Top Stories
OTTAWA The Conservatives are calling on Finance Minister Bill Morneau to deliver an urgent fall economic update, including a plan to get back to balance. Conservative MP...
Politics
OTTAWA Finance Minister Bill Morneau says the Conservatives are being irresponsible in raising concerns about the prospect of a recession. I think it s a little bit...
Canada
OTTAWA—The Liberal government says Canadians will begin to see the impact of a proposed tax cut on their first pay stubs of the new year — as long as the...
Politics
The shortfall, released in a package of year end numbers Friday, was a bit smaller than the $5.4 billion deficit projected by the Trudeau government in its March budget. It would have...
Canada
Morneau’s remarks outside a cabinet retreat in St. John’s came after months of impressive economic data, including a recent report showing growth expanded at an annualized rate of 4.5 per...