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Finance Minister Chrystia Freeland says she will deliver a fall economic statement sometime this year as the clock ticks down on the remaining days in the House of Commons for 2024.
Freeland, who is also the Liberal government’s deputy prime minister, made the pledge in Toronto after announcing funding for the Canadian artificial intelligence firm Cohere.“I will deliver a fall economic statement this year,” Freeland said.The fall fiscal update is typically delivered as a stopgap between federal budgets, providing revised economic updates on Ottawa’s projections and accounting for newly announced items in the government’s spending plans.Delivering a fall economic statement is not a mandated requirement for any government, but would provide a view of how recent government announcements such as the upcoming GST/HST holiday and a pledge to meet NATO spending commitment are affecting the balance sheet.
The Parliamentary Budget Officer has meanwhile projected that the federal Liberals likely missed a pledge to cap the deficit at $40 billion in the previous fiscal year.
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Freeland has blamed an ongoing Conservative filibuster in the House of Commons for clogging the gears of government business, including the tabling of a fall economic statement.Conservative Leader Pierre Poilievre, meanwhile, has said he’ll provide the government with two hours on Monday to table a fall economic statement.If Freeland is to table the fiscal update this year, there are limited days to do so.The House of Commons is set to rise for the year on Dec. 17, but can conclude formal business earlier if MPs agree to end the session.
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