Freeland to present housing-focused fall economic update Tuesday
CTV
Canada's Finance Minister Chrystia Freeland will unveil a much-anticipated fall economic update on Tuesday and CTV News has confirmed it will include billions of dollars in loans to increase housing supply, as well as tax reforms targeting short-term rentals, while trying to strike a tone of fiscal restraint.
Canada's Finance Minister Chrystia Freeland will unveil a much-anticipated fall economic update on Tuesday and CTV News has confirmed it will include billions of dollars in loans to increase housing supply, as well as tax reforms targeting short-term rentals, while trying to strike a tone of fiscal restraint.
Given the Liberals' recent focus on finding federal savings and economists warning of a slowing economy amid high inflation, the annual economic presentation is not expected to be a big spending package or a "mini-budget" as past Liberal fiscal updates have been.
Rather, the sources CTV News has spoken to are framing Tuesday's presentation as a "very focused" and "slim" checkpoint on Canada's finances and the current government's plans to create jobs and grow the economy.
It is also meant to be a continuation of the Liberals' current priority of addressing affordability, and reflect the need to make choices about where to spend, sources said, offering not-for-attribution intel ahead of Freeland's tabling.
As of Tuesday morning, CTV News has confirmed with its sources that the following measures will be in the financial document:
Freeland's update — including government spending since the spring federal budget, the overall Canadian economic outlook and key financial projections — comes at a dire time politically for the Liberals, with both Trudeau trailing Conservative Leader Pierre Poilievre and overall national sentiments of feeling less well off now than one year ago.
It's likely the federal cabinet will look to Tuesday's "FES" to help turn the tide and convince Canadians that the minority Liberals are accurately attuned to their economic concerns and are the best-placed political party to respond to their cost-of-living constraints.
