Wednesday March 23, 2017
Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Wednesday March 23, 2017
Bill Morneau planning cautious budget for March 22 as he waits on Trump
Bill Morneau’s second budget will be short on new spending and will include what amounts to a “down payment on the innovation agenda,” as the finance minister takes a wait-and-see approach over the uncertainty surrounding U.S. President Donald Trump’s economic agenda.
A senior government source said this budget will set the stage for what could effectively be a two budget year, with a significant fall fiscal update that would be able to factor in the full implications of the coming U.S. Budget.
Morneau announced in the House of Commons today that he will deliver his budget on March 22. The expectation was that it would be a so-called “innovation budget” — outlining the beginnings of a plan to re-engineer the Canadian economy — but government officials have been keen to tamp down those expectations in recent weeks.
“We want to move forward on our agenda and continue to be ambitious in helping Canadians,” Morneau said in the foyer of the House of Commons, adding that he is “confident” he can do that while remaining fiscally responsible.
“We know that the measures we put in place in Budget 2016 made a real difference for middle class Canadians, we can continue that going forward,” he said. (Source: CBC News)