Prime Minister Justin Trudeau stands with Bill Morneau as he remains Minister of Finance during the swearing in of the new cabinet at Rideau Hall in Ottawa on Wednesday, Nov. 20, 2019. The Conservatives are calling on Finance Minister Bill Morneau to deliver an “urgent” fall economic update, including a plan to get back to balance. THE CANADIAN PRESS/Sean Kilpatrick

Conservatives urge Morneau to deliver ‘urgent’ fall economic update

Morneau says the first thing the Liberals plan to do is bring in their promised tax cut for the middle class

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.

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.

VIDEO: SNL skewers Trudeau’s mockery of Trump in high school cafeteria sketch

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

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.

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.

ALSO READ: Feds won’t explain claim pipeline expansion will raise $500M in tax revenue

The Canadian Press


Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Comments are closed

Just Posted

57 new COVID-19 cases confirmed in Alberta on Friday

Central zone remains at three active cases

PHOTO: Stampede Cattle Raffle winner

Rimbey couple take home cash instead of cattle

Man arrested in Maskwacis for second degree murder

42-year-old Arthur Trinity Brown was located and arrested on June 30

Red Deer remains at two active COVID-19 cases

Alberta confirms 94 new cases over past two days

PHOTOS: Canada Day in Ponoka

Fireworks, pancake breakfasts and the grand opening of the Ponoka Farmers Market

PODCAST: Black Lives Matter in central Alberta Part 2

More insight into the Black Lives Matter movement of central Alberta

Protesters return to St. Louis area where couple drew guns

Protesters return to St. Louis area where couple drew guns

Heavy rain floods southern Japan, leaving over dozen missing

Heavy rain floods southern Japan, leaving over dozen missing

At Rushmore, Trump says protesters seek to ‘defame’ heroes

At Rushmore, Trump says protesters seek to ‘defame’ heroes

First Nations coalition rejects recommendation to lift Sen. Beyak’s suspension

First Nations coalition rejects recommendation to lift Sen. Beyak’s suspension

Canada restricts dealings with Hong Kong over new security law

Canada restricts dealings with Hong Kong over new security law

Man accused of ramming gate at Rideau Hall with truck faces multiple charges

Man accused of ramming gate at Rideau Hall with truck faces multiple charges

Hosting regular season MLB in Toronto “totally different ball game”

Hosting regular season MLB in Toronto “totally different ball game”

Siakam says he feels safe in Florida, despite explosion of COVID-19 cases

Siakam says he feels safe in Florida, despite explosion of COVID-19 cases

Most Read