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

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

Just Posted

STA members and non-members alike are encouraged to send in photos of their trail adventures. (Photo contributed by Scott Tibballs)
STA plots another trail for Lunch Network

The network will consist of 6km of trail outside of Sparwood

A member of the Avalanche Canada South Rockies field team gathers important snowpack data that is used to produce daily avalanche forecasts for the region. Photo by Jennifer Coulter.
Warming temperatures increase avalanche risk heading into the weekend

Warm temperatures impact conditions, human behaviour

The Elk River Pedestrian Bridge in Sparwood could be at risk without mitigation works. (Scott Tibballs / The Free Press)
Sparwood secures grant funding for bridge repairs

The district has secured $703,000 in funding from UBCM

District of Sparwood gateway banner. (Scott Tibballs / The Free Press)
Sparwood starts to envision new multi-purpose facility for district

The district is exploring options for a new facility in the district following community consultation

A nurse performs a test on a patient at a drive-in COVID-19 clinic in Montreal, on Wednesday, October 21, 2020. THE CANADIAN PRESS/Paul Chiasson
Interior Health reports 16 new COVID-19 cases

423 cases remain active in the region

A vial of Oxford-AstraZeneca COVID-19 vaccine is pictured at a family doctor office, Thursday, Feb. 25, 2021 in Paris. THE CANADIAN PRESS/AP -Christophe Ena
Trudeau ‘optimistic’ that timeline for rollout of COVID vaccines can be accelerated

Canada set to receive more than 6M COVID-19 vaccine dose than initially expected, by end of March

Beginning late Tuesday, anti-pipeline protesters blocked the intersection of Hastings Street and Clark Drive in Vancouver. (Instagram/Braidedwarriors)
Demonstrators block key access to Vancouver port over jail for pipeline protester

They group is protesting a 90-day jail sentence handed to a fellow anti-pipeline protester

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Two Vancouver police officers were struck by a car when the driver learned he was being arrested for allegedly using a fraudulent credit card to pay for food. (Vancouver Police Department)
Driver being arrested for alleged food order fraud rams Vancouver police with car

Two officers are in stable condition, suffering with soft tissue injuries following the incident

A discarded blue surgical mask is shown hanging in a bush in Montreal, Sunday, Dec. 6, 2020, as the COVID-19 pandemic continues in Canada and around the world. THE CANADIAN PRESS/Graham Hughes
B.C. RMT suspended for not wearing a mask after confirmed by undercover clients

College of Massage Therapists has 5 open files, said suspension necessary to protect public

Accident rates, injury claims and court costs have driven ICBC into deficit in recent years. (Black Press Media)
Judge rejects taking lawyers out of minor ICBC injury cases

Ruling the latest setback for B.C. NDP’s insurance cost reforms

Most Read