OTTAWA – Finance Minister Chrystia Freeland will deliver an update on federal finances in the fall economic statement to be presented in the House of Commons on Nov. 3.
The fiscal update will also share the government’s outlook for an economy facing high inflation and staring down a potential recession in the coming months.
Freeland has stressed in recent weeks that the Liberal government is focused on fiscal discipline, so as not to further fuel inflation that has affected the cost of living, including grocery bills.
Monthly updates from the Finance Department have shown that federal finances have been improving as revenues have risen and pandemic spending has wound down.
In the Liberals’ spring budget, the fiscal focus was on making life more affordable for people and giving a long-needed boost to Canadian productivity.
It is widely anticipated that next week’s fiscal update will show how Canada intends to respond to the Inflation Reduction Act in the U.S., as a way to remain competitive when it comes to attracting investments in green energy.
This report by The Canadian Press was first published Oct. 28, 2022.
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