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

Farm life: Planning and preserving, a time of transition

Over the coming weeks many plants will be pulled from my garden and replaced with cool weather crops

Masks4Canada group reiterates call for mask mandate

Walmart Canada and BC Transit have made masks mandatory

Kiakho Lake wildfire being held, Stirton Rd wildfire under control

Latest update on two local wildfires in the Kimberley and Cranbrook area

Cranbrook Bucks set to open rookie camp at the end of August

Junior hockey will feature in Cranbrook at the end of the month,… Continue reading

Officials raise alarm over water, environmental ‘crisis’ in Baynes Lake area

Local officials are sounding the alarm over a water and environmental crisis… Continue reading

Hiroo Onoda’s Thirty-Year War

Some Japanese soldiers, not knowing the war was over, did not surrender until 1972

DFO says 5 aggrieved B.C First Nations were consulted on fisheries plan

Nuu-chah-nulth First Nations calls response ‘a sham,’ adding DFO never incorporates their views

Canucks ride momentum into NHL playoff series against defending Stanley Cup champs

PREVIEW: Vancouver opens against St. Louis on Wednesday

Pitt Meadows woman gives birth on in-laws’ driveway

Frédérique Gagnon new son is appropriately named after Norse trickster god

Man, 54, charged in connection with fatal attack of Red Deer doctor

Doctor was killed in his walk-in clinic on Monday

UPDATE: Two dead after fishing boat sinks off southern Vancouver Island

Shawnigan Lake-registered Arctic Fox II went down off Cape Flattery, west of Victoria

Landlord takes front door, windows after single B.C. mom late with rent

Maple Ridge mom gets help from community generosity and government

VIDEO: B.C. community rallies to save snared eagle

Revelstoke climber scales tree to save the raptor

Most Read