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

Gilbertson ready to step down from organizing Barriere’s Walk For Alzheimer’s

By Margaret Houben Liz Gilbertson has been chairing the Barriere and Area… Continue reading

Don’t fall for scammer who says, “Your Windows license is expiring”

They explain you need to upgrade your operating system if you want your computer to keep working

Province seeks input into trails strategy

The Province and its partners have announced they are currently leading a… Continue reading

Soccer Academy every Friday at the Barriere Ridge

U4 to U13 youngsters excited about Lead Wolf Selects Soccer Academy

Fashion Fridays: The basics you need for your body type

Kim XO, helps to keep you looking good on Fashion Fridays on the Black Press Media Network

Diners’ health tax not catching on in B.C., restaurant group says

Small businesses look for options to cover employer health tax

B.C. comic wins judgment after club owner slaps cellphone out of his hands

Incident happened last summer when Garrett Clark was performing in Abbotsford

Mayors call for ‘calmness’ as highway rockslide cuts Tofino, Ucluelet off from supplies

Ministry of transportation expects to open road for “essential travel only” from noon-8 p.m. Friday.

VIDEO: Mass coronavirus quarantines seen in China won’t happen in Canada, authorities say

‘If a case comes here, and it is probably … it will still be business as normal’

Owner surrenders dog suffering from days-old gunshot wound to B.C. SPCA

The dog was also found to be emaciated and suffering from a flea infestation

B.C. man dies after police called for ‘firearms injury’ in rural Alberta

Victim is 30-year-old Greater Victoria man, say police

Most Read