Freeland to lay out plan to cope with inflation in keynote speech

Finance Minister Chrystia Freeland will use a keynote speech to make the case that Canada’s government is ready to tackle affordability issues as consumer prices soar and borrowing costs rise sharply.

Chrystia Freeland, in midday remarks Thursday to the Empire Club in Toronto, will examine the state of Canada’s economy as the COVID-19 pandemic subsides, according to a person familiar with the speech. She’ll focus on the global challenge of inflation and steps the government is taking to counter the rising cost of living.

However, it will not lay out any new spending, instead pointing to programs that are already within the fiscal framework, the person said.

Freeland unveiled a budget in April with less spending than expected, using a revenue windfall to reduce the deficit. She will emphasize that the government must show fiscal restraint after enormous emergency spending during the pandemic, the source said.