National

Fiscal update coming Dec. 14: Freeland

Darpan News Desk The Canadian Press, 02 Dec, 2021 01:26 PM

OTTAWA - The Trudeau Liberals will provide an update on the health of federal finances on Dec. 14.

The document will also provide the government's outlook for an economy facing high inflation rates, flooding in British Columbia and the emergence of a new variant of COVID-19.

Finance Minister Chrystia Freeland says the government knows it is important to be transparent about the country's finances.

Higher oil prices among other economic factors are expected to pad the government's bottom line by several billion dollars, giving the Liberals extra budgetary breathing room.

The Liberals have promised to spend $100 billion in stimulus, and pledged billions more in the election campaign, which has stoked warnings from experts that too much spending could fan inflation.

Rebekah Young, Scotiabank's director of fiscal and provincial economics, says messages coming out of the Finance Department point to plans to release a minimalist update instead of one with many new spending measures.

Prev Next

MORE National ARTICLES

Extreme wildfire weather increasing, research says

The research, conducted by Natural Resources Canada and published Thursday in the journal Nature, says rising temperatures and falling humidity are the biggest drivers of the change.

Extreme wildfire weather increasing, research says

PBO told to cost platforms outside campaign

Over five weeks, the PBO costed 130 proposals from four parties and published 72 of them, marking a faster pace than the 216 requests and 115 that were published in 2019 between June 24 and election day on Oct. 21 of that year.

PBO told to cost platforms outside campaign

Labour group slams Liberals over benefit change

Legislation introduced Wednesday in the House of Commons would, if passed, create the $300-a-week benefit for workers who find themselves off the job because of a pandemic-related lockdown between now and spring 2022.

Labour group slams Liberals over benefit change

Line of storms approaches B.C. after recent floods

A statement from the federal ministers of transport and emergency preparedness says the government is contributing up to $4.1 million to ease bottlenecks at Vancouver ports.

Line of storms approaches B.C. after recent floods

Return of stolen e-bicycle to its owner an unexpected and meaningful surprise

In speaking with the man, our officers learned he had only owned it for 3 days before it was allegedly stolen, says Corporal Adriana O’Malley, Richmond RCMP Media Relations Officer. He also went on to tell the officers that he never expected to see his bike again so he was absolutely delighted when the call came from police.

Return of stolen e-bicycle to its owner an unexpected and meaningful surprise

Vancouver mayor proposes a climate levy

Vancouver's mayor wants a new levy to fight climate change in the city's 2022 budget. If it's adopted by city council, Kennedy Stewart says the money raised from the levy would be used to cover infrastructure upgrades needed because of climate change.