OTTAWA — Finance Minister Bill Morneau expects economic growth to lag below the Bank of Canada’s two per cent target over the next five years as the global economy weakens and the Canadian oil industry sputters.
Meanwhile, the Liberal deficit is expected to balloon next year, due largely to an accounting practice that lowers the value of government pensions when interest rates fall. Morneau projects a $26.6 billion deficit in 2019-20, up from a pre-election estimate of $19.8 billion. A promised tax cut for middle-income earners will also cost the government $700 million in foregone revenues, the fiscal update said.
The spending increase comes as the lacklustre Canadian oil industry continues to weigh on overall GDP growth.
NOOO! SAY IT AIN'T SO!
It doesn’t matter!! Sunny ways are ahead!! Smooth sailing nobody cares
Meanwhile south of the border the DoNothingDemocrats want to impeach Trump for record economy winning
Thanks for Trump booming economy if USA economy is not booming Canada were in recession long time ago
Yet JustinTrudeau just tweeted: Our economy is strong & growing and we’re on track to have the 2nd fastest growing economy in the G7, the best wage growth in 10 years & the lowest unemployment in 40. cdnpoli
Most clueless Finance Minister ever ! Bill_Morneau
Soooooooo. Fix it
Why is the City of Ottawa producing economic forecast for the whole country? Shouldn't it be the Liberals doing the work?
Would say “told you so” but it was so clear that liberal_party policy would stall the economy I’m not going to gloat over news that is negative for Canada. JustinTrudeau voters: this is on you. Twice.
“the economy is very strong”... Bla Bla blah... a few days after losing 70k jobs in a month..
Morneau continues to drain the economy of Canada with his 'long-term vision'.
The Liberals didn’t win the election, the conservatives lost it. Similar to Wynne’s win over Hudak. This government is on track for a pulverizing.
They are using our credit card with no limit ,,, Like a spoiled teen with dad not watching ,,, Have a Merry Christmas and a Happy New Year from us: working class stiffs ...
This is what happens when you put a drama teacher in charge. Wake up Canada. TrudeauWorstPM
This guy is as dumb as TrudeauWorstPM! All they have to do is copy Trump and the economy would be booming!! They are a disgrace!!
You mean the Liberals? Do up your zipper. Your bias is showing. justinjournos cdnmedia cdnpoli
When will the economy grow from the heart out so the budget balances itself?
But Trump is so evil.
Shocking........
Terrible Government
Aladdin Watch 2019 'Ottawa' LOL Team Train Wreck! 🤡 2.0 TrudeauJr PeterPanPM MagicKingdom
Budget still hasn’t balanced itself.
Cause you've learned that energy is our lifeblood
You mean Trudeau Liberals