Wait for the budget
The fall economic update will be delivered Thursday by Finance Minister Jim Flaherty. But the Prime Minister's Office isn't waiting until then to give out some select details of what's in it.
Chris Hall
The first is that the government will lead by example in these uncertain economic times.
That means: freezing the pay of federal politicians and senior bureaucrats. A clampdown on discretionary travel. No automatic bonuses. Fewer perks.
At a briefing today for journalists, officials from the PMO underscored the point.
Just what was said:"This government can not, in uncertain economic times, be a haven of business as usual."
"The first people to go through the process of belt-tightening should be politicians and senior officials.''
"We're talking about tens of millions of dollars a year in savings.''
The second message is that any financial stimulus will be included in the budget, which will be delivered earlier than usual. Not before Christmas, but earlier than the usual time of late February or March.
Attempts to pin down a precise date proved fruitless. But the House of Commons is to return from its annual Christmas break on January 26, so it won't be before that.
And finally, just how much is the government willing to spend to stimulate economic growth?
In Washington this month, at the meeting of G20 leaders, the agreement was to provide financial stimulus equal to two per cent of GDP, which would be about $32 billion in Canada's case.
PMO officials say that's not the number they have in mind at the moment. But just how much money and how it will be spent will only be announced in the budget.
— Chris Hall
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