Finance Minister Chrystia Freeland is not going to seem in individual to offer her accounting of federal funds in the present day due to considerations over COVID-19.
Learn extra:
Liberals to offer fiscal replace, future outlook for Canadian financial system in the present day
Freeland stated on Twitter that two of her staffers examined optimistic after taking fast antigen exams and that whereas she has had two destructive molecular exams, she’s going to current her replace just about out of an abundance of warning.
“As we speak, two members of my employees, who used fast antigen exams as a precaution, obtained a optimistic take a look at outcome,” Freeland stated on Twitter about 90 minutes earlier than she was to rise within the Home of Commons and ship her replace.
“They’re self-isolating at residence. I’ve not had direct contact with them. The remainder of my employees in Ottawa have had destructive antigen exams in the present day.”
Freeland shall be offering an up to date accounting of federal funds in the present day and supply the federal government’s financial outlook for the approaching months.
The federal government predicted the deficit for final fiscal yr could be $354.2 billion, and practically $155 billion this yr.
However federal books may have billions extra in additional fiscal house helped by greater oil costs, which have additionally helped push up inflation charges.
Freeland didn’t immediately reply a query Monday about how that shall be mirrored in in the present day’s replace, saying she would have extra to say as soon as the doc is launched.
Learn extra:
Fiscal replace will put aside $40B to compensate First Nations children, minister says
Whereas the Liberals promised billions in new spending on the election marketing campaign, the Finance Division has despatched alerts that the replace received’t have a protracted listing of recent spending measures.
One measure was unveiled Monday, as the federal government put aside $40 billion to compensate First Nations kids and undertake long-term reforms to the child-welfare system.
Economists counsel that some promised spending could be delayed as a result of it may add to inflationary pressures.
Whereas the Financial institution of Canada has a mandate to maintain inflation in examine, the federal government agreed Monday it performs a job in serving to the central financial institution keep inflation round its two-per-cent goal.
BMO director of Canadian charges Benjamin Reitzes stated the wording may very well be an indication that the federal government acknowledges it’s time to stand down a bit on its stimulus spending.
Freeland is dealing with requires extra profit spending from labour teams, and requests from enterprise teams for a plan to cope with supply-chain points, “Purchase American” provisions the White Home is pushing and home labour shortages.
Dennis Darby, president of Canadian Producers and Exporters, says the problems may weaken the financial rebound from COVID-19.
© 2021 The Canadian Press
