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

Jordan Naterer, 25, was last seen Saturday Oct. 10. He planned a hike in the Manning Park area, and has not been seen since. Photo Facebook.
Parents not giving up, after official search for Manning Park hiker suspended again

‘We are determined, but eventually the money is going to run out.’

Chilliwack-Kent MLA Laurie Throness watches the results on election night. The ex-Liberal’s tumultuous campaign and the narrow margin for victory ahead of the mail-in ballot count leaves the future of the riding’s seat in limbo for at least the next week. (Facebook/Laurie Throness)
B.C. VOTES 2020: Future for incumbent Throness uncertain as riding awaits results

Chilliwack-Kent candidate hopeful, resigned waiting on final count

File Photo
COVID-19 outbreak declared at Agassiz Seniors Community

First declared outbreak in Agassiz-Harrison since pandemic began

The family and friends of Abbotsford resident Kaitlyn Cassels have launched a GoFundMe for her after she suffered serious injuries following a bad fall on Thursday night. (Submitted)
GoFundMe created for Abbotsford woman after horrible fall

19-year-old Kaitlyn Cassels suffers many injuries after falling 27 feet off Agassiz-Rosedale Bridge

A pair of crashes on Highway 1 between Abbotsford and Chilliwack have snarled traffic in both directions.
Pair of crashes snarl traffic between Abbotsford and Chilliwack

Traffic delays eastbound, large westbound backup

FILE – Provincial Health Officer Dr. Bonnie Henry provides the latest update on the COVID-19 pandemic in the province during a press conference in the press theatre at Legislature in Victoria, B.C., on Thursday, October 22, 2020. THE CANADIAN PRESS/Chad Hipolito
B.C. shatters COVID-19 records with 817 weekend cases; masks now expected indoors

Three people have died over the past three reporting periods

Graphic on promo material for Best Buy Canada’s Tech Wonderland event.
Drive-through ‘Tech Wonderland’ coming to PNE site a few weeks before Christmas

Best Buy Canada-backed ‘holiday’ event to raise money for charity

Aaliyah Rosa. File photo
Crown says murder of seven-year-old in Langley was planned, deliberate

The trial of KerryAnn Lewis began Monday in New Westminster

B.C. Provincial Health Officer Dr. Bonnie Henry. (B.C. government photo)
Unnamed school in Fraser Health region closed due to COVID-19

Closure announced by Dr. Bonnie Henry during daily briefing

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

RCMP have released more details regarding what led up to an arrest caught on video in Williams Lake Sunday, Oct. 26. (Facebook video screenshot)
Review launched after ‘high-risk, multi-jurisdictional’ chase, arrest in Williams Lake

RCMP launching a full review and code of conduct investigation

(Pxfuel)
B.C. limits events in private homes to household, plus ‘safe six’ amid COVID-19 surge

Henry issued a public health order limiting private gatherings to one household, plus a group of ‘safe six’ only

B.C. Liberal Leader Andrew Wilkinson speaks during a drive-in car rally campaign stop at a tour bus operator, in Delta, Saturday, Oct. 17, 2020. THE CANADIAN PRESS/Darryl Dyck
Andrew Wilkinson stepping down as B.C. Liberal leader

Will stay on until the next party leader is chosen

Most Read