Politics

Federal government to deliver economic, fiscal update on Nov. 30, says Freeland

Finance Minister Chrystia Freeland says the federal government will deliver a long-awaited update on the health of federal finances on Nov. 30.

July snapshot said deficit was headed for a record level of $343.2 billion

Deputy Prime Minister and Minister of Finance Chrystia Freeland will deliver a fiscal update November 30. (The Canadian Press/Adrian Wyld)

Finance Minister Chrystia Freeland says the federal government will deliver a long-awaited update on the health of federal finances on Nov. 30. 

She made the announcement Monday in the House of Commons. The Liberals had promised an update this fall on the federal deficit — a document that also could include the first steps toward a national child care program.

The government has not tabled a budget for this fiscal year, but in July delivered what it called a "fiscal snapshot" that estimated the deficit was heading for a record of $343.2 billion.

But that figure doesn't include added spending since July or the many promises the government has made since. 

Freeland said the government will continue to support Canadians through the pandemic and ensure the post-pandemic economy is "robust, inclusive and sustainable." 

The Liberals also have said the update will provide the government's outlook for the economy and spending guidelines to keep deficits from spiralling out of control. 

Observers are looking for a plan to manage the near-term impacts of the pandemic and also the longer-term effects it will have on the country. 

Goldy Hyder, president of the Business Council of Canada, said he wants to see a coordinated approach to the pandemic in the document, along with help for the hardest-hit sectors of the economy: travel, tourism and hospitality.

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