What's being said at Trudeau-led cabinet retreat about inflation and the risk of a recession
CTV
As Prime Minister Justin Trudeau gathers with his cabinet for a pre-return to Parliament retreat to plot out their priorities for 2023, a big focus of the conversation is on Canadians' cost of living concerns and how the Liberals plan to pay for their commitments while being mindful of the risk of a recession. Here's what's being said at the federal retreat.
As Prime Minister Justin Trudeau gathers with his cabinet for a pre-return to Parliament retreat to plot out their priorities for 2023, a big focus of the conversation is on Canadians' cost of living concerns.
Moreover, the question circulating at the meeting of ministers is how the Liberals plan to pay for their domestic political and international commitments as well as a potential multibillion-dollar deal with the provinces on health care, while being mindful of the risk of a recession.
As Trudeau meets with his front bench, a new report from the Business Council of Canada and Bennett Jones warns that there's a "high risk" the Liberals won't be able to follow through on all their spending plans without veering off of a more prudent fiscal track.
Helping cabinet assess the lay of the economic landscape on Tuesday, ministers heard from a trio of top economic minds ahead of what is expected to be yet another Bank of Canada interest rate hike Wednesday.
So, what's being said about all this at the federal cabinet retreat?
Here are some of the key quotes.
"We have talked a lot about the work that we are doing as a government, what Canadians are doing, Canadian people, Canadian businesses, to increase Canada's economic capacity to increase growth and to drive the creation of more good jobs for Canadians. We spoke very much about the challenges ahead. There is a lot of uncertainty, a lot of volatility in the global economy. And we also spoke about the position of strength from which Canada enters this challenging period," Freeland said during a scrum with reporters at the retreat on Tuesday.
