Legislation
Liberals should exercise caution when it comes to deficits
The government should set out a clear test for when to run budgetary deficits that is limited to sustained economic contractions at the national level, write the Macdonald-Laurier's Ian Lee and Sean Speer.
Finance Minister Bill Morneau will deliver the Liberal government's first budget on March 22. The Hill Times photograph by Jake Wright
The government has committed to running budgetary deficits for the short-term in order to promote economic growth. This was at the heart of the Liberal Party’s election platform and few can argue that it does not have a clear mandate to carry out its policy. Last week, Finance Minister Bill Morneau confirmed that the government projects deficits of more than $30-billion over the next two years, largely because revenue is now expected to be considerably lower than it
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