Government still planning to unveil economic statement despite Freeland's resignation

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Government still planning to unveil economic statement despite Freeland's resignation

^{Published on 2024-12-16 22:20:50 - MSN}

The federal government unveils its long-awaited fall economic statement today
putting to rest weeks of speculation about a higher-than-projected deficit and the potential failure of other fiscal "anchors" Ottawa claimed would keep its budget on track.

The Canadian government, led by Finance Minister Chrystia Freeland, released its fall economic statement on November 21, 2023, amidst significant pressure to address the growing federal deficit. The statement comes at a time when Canada's economy is facing challenges such as high interest rates, a cooling housing market, and a potential recession. Key points include measures to tackle housing affordability, support for the middle class, and initiatives to boost economic growth. Freeland has been under scrutiny to balance fiscal responsibility with the need for economic stimulus, especially with the backdrop of an upcoming election. The statement also outlines plans for managing the deficit, which has been exacerbated by previous emergency spending during the global health crisis, and discusses potential tax adjustments and spending cuts to stabilize the nation's finances.

Read the Full MSN Article at:
[ https://www.msn.com/en-ca/politics/government/government-releases-economic-statement-today-as-freeland-faces-heavy-pressure-over-deficit/ar-AA1vW1ea ]

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