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

Nanaimo RCMP sought help in locating Jada Charlie-Carlson, 17. (Nanaimo RCMP photo)
UPDATE: Nanaimo RCMP say 17-year-old girl who was missing has been found safe

Police sought help in locating teen who hadn’t seen her family members for a month

Brian McFadden, vice-president of the Vancouver Island Military Museum, shows elements of a new exhibit there that examines some of the horrors and hardships for women and children in prison camps during First and Second World Wars. (Chris Bush/News Bulletin)
LETTER TO THE EDITOR: Women in prison camps persevered

Letter writer shares her mother’s recollections of prison camp in Java during Second World War

A light display on Northumberland Avenue was recognized as one of the best in the city last year. (Greater Nanaimo Chamber of Commerce photo)
Nanaimo’s Christmas light-up event renamed Illuminight

Judging will take place the evening of Dec. 13

Potential locations of speed humps and curbs on Lost Lake Road. (City of Nanaimo image)
City of Nanaimo planning traffic-calming project on Lost Lake Road

Seventy-five per cent of respondents support measures to reduce speed on the road

Kyle Charles poses for a photo in Edmonton on Friday, Nov. 20, 2020. Marvel Entertainment, the biggest comic book publisher in the world, hired the 34-year-old First Nations illustrator as one of the artists involved in Marvel Voice: Indigenous Voices #1 in August. THE CANADIAN PRESS/Jason Franson
VIDEO: Indigenous illustrator of new Marvel comic hopes Aboriginal women feel inspired

Kyle Charles says Indigenous women around the world have reached out

This 2019 photo provided by The ALS Association shows Pat Quinn. Quinn, a co-founder of the viral ice bucket challenge, died Sunday, Nov. 22, 2020, at the age of 37. (Scott Kauffman/The ALS Association via AP)
Co-founder of viral ALS Ice Bucket Challenge dies at 37

Pat Quinn was diagnosed with Lou Gehrig’s disease, also known as amyotrophic lateral sclerosis, in 2013

Minister of Justice and Attorney General of Canada David Lametti speaks with the media following party caucus in Ottawa, Tuesday, January 28, 2020. THE CANADIAN PRESS/Adrian Wyld
Exclusion of mental health as grounds for assisted death is likely temporary: Lametti

Senators also suggested the exclusion renders the bill unconstitutional

Claudio Mastronardi, Toronto branch manager at Carmichael Engineering, is photographed at the company’s offices in Mississauga, Ont., Thursday, Nov. 19, 2020. As indoor air quality becomes a major concern in places of business, HVAC companies are struggling to keep up with demand for high quality filtration systems. THE CANADIAN PRESS/Chris Young
Business is booming for HVAC companies as commercial buildings see pandemic upgrades

‘The demand right now is very high. People are putting their health and safety ahead of cost’

Bank of Montreal, located on Burrard Street in downtown Vancouver. (Google Maps)
Heiltsuk man files human rights complaint against Vancouver police, BMO after bank arrest

Pair remains distraught after employee falsely reports fraud in progress leading to their arrest

RCMP Cpl. Cory Lepine pictured at BC Livestock Producers Co. in Kamloops, Nov. 16. (Phil McLachlan - Black Press Media)
Meet B.C.’s only cowboy cop; a voice for the livestock industry

Cpl. Cory Lepine serves as a bridge between the law and those who make a living off the land

BCHL
BCHL pushes back season start due to provincial health orders

The delay is minimal, just six days, for now. But the league is open to starting up after Christmas

Nanaimo Ladysmith Public Schools’ board is set to vote on a recommendation that would see Franklyn Street gym demolition. Pictured here, Nanaimo Fire Rescue staff on scene after a gym fire in October 2018. (News Bulletin file)
Nanaimo-Ladysmith school trustees to decide Franklyn Street gym’s fate

SD68 committee recommends demolishing gym, damaged by fire in October 2018

A map of Nanaimo displays the boundaries of the proposed new downtown business improvement area. (City of Nanaimo image)
Nanaimo city councillors recommending downtown improvement area be re-established

Finance and audit committee recommends council direct staff to start ‘petition-against’ process

Most Read