Trudeau, Morneau need long-term plan
OTTAWA—It was merely a matter of time before someone in Justin Trudeau’s picture-perfect, properly balanced cabinet—a collection of the celebrated, the cerebral and the politically untested—was going to have to show their mettle with their finger stuck in a light socket. Bill Morneau, c’mon down. Morneau, the Bay Street veteran, carries with him a very […]
Relax, we’ve had deficits before: Fournier
Much is being made these days about the government’s projected deficit of $18.4-billion for the 2016-17 fiscal year. We’re approaching full panic mode. Here’s a timely reminder to sit back and relax for those of us who have short memories, and I include myself in the collective “us.” We have had deficits before. In fact, the previous government ran six […]
It’s time for governments to adopt open innovation in solving problems, developing solutions to challenges
TORONTO—Finance Minister Bill Morneau has named Dominic Barton, global managing director of the giant international consultancy, McKinsey & Co., to chair his advisory council. Barton, who joined McKinsey in 1986 at the firm’s Toronto office, rose to take on leadership of the firm in 2009. Barton has worldwide experience and he no doubt is in […]
Feds to spend $250.1-billion this year, up 3.5 per cent: spending estimates
The Liberal government is seeking Parliament’s approval for $250.1-billion in spending in its 2016-17 main estimates for the coming fiscal year, up 3.5 per cent from the current year, which ends in March. Former parliamentary budget officer Kevin Page, now at the University of Ottawa, said the need to reform Parliament’s financial cycle has been discussed “for decades” […]
How analytics can help close multi-billion dollar deficit
The falling price of oil and plunging Canadian dollar are taking their toll on the federal budget. With the government now estimating an $18-billion deficit next year, and economists estimating the deficit could go as high as $30-billion, Canada needs an immediate action plan. Infrastructure spending is the watchword of the day, but tucked beneath […]
Ottawa earmarks nearly $2 million for mental health support in missing, murdered inquiry plan
The Liberal government has quietly planned to spend an estimated $1.7-million on mental health support for aboriginal family members and others who were consulted over the past two months on plans for a national inquiry into murdered and missing indigenous women and girls. The commitment, not yet formally announced by Indigenous and Northern Affairs Minister […]
Politics This Morning: Morneau faces Finance committee
After announcing the budget would be tabled on March 22 and it would contain at least an $18.4-billion deficit, Finance Minister Bill Morneau will appear before the House Finance committee today at 11:30 a.m. in room 237-C Centre Block where he will face tough questions from the opposition. With commodity prices low, especially for oil, […]
Morneau’s budget will set path for Trudeau government’s full term in office
TORONTO—When Finance Minister Bill Morneau finally gets around to presenting his budget—and so much seems to be on hold until he does—he will be setting the path for the Trudeau government’s full term in office. Unfortunately for him, there are few, if any, rabbits he can pull out of the hat to get the economy […]
Politics This Morning: Morneau to release economic numbers
Finance Minister Bill Morneau will hold a pre-budget townhall meeting today in Ottawa where he will also release numbers on the state of the Canadian economy and announce the date of when the Liberal government releases its first budget. There is speculation that the budget will be tabled the week of March 20 and will […]
Morneau says deficit at least $18.4-billion, CIBC economist predicts $30-billion
The federal government shed more light on the size of its deficit on Monday, and one prominent economist has predicted it will be at least $30-billion—about three times what the Liberals promised during the election campaign—due to lower-than-expected tax revenue from a slow economy and the need for more fiscal stimulus. “The $10-billion [deficit] was […]
