The Canadian Finance Minister Bill Morneau is walking on a tight rope. He does not have enough money to spend on the new budget plans that he has in his mind. He is all set to meet the private sector economy tacticians before presenting the much-anticipated Trudeau government budget of 2018. The budget will be presented on February 27th.
There is an anticipation that the fiscal growth will slow down to levels that the Canadian economy has shown during the post-recession period. The economy showed huge gains in 2017. But, this will not happen in 2018. Morneau will not have the space to increase the spending as he would have to face huge deficits.
Any new initiatives that the Canadian FM proposes would need the relocation of the spending. They might need to put their hands on the buffers at hand to suit the new fiscal plan.
The FM has assured that the budget will be supportive of the middle-class people. The new budget is the “economy of tomorrow” and will offer options for people to invest in science, research and skills training. The Trudeau government is looking at making the country debt free.
The department of finance carried out four economists’ survey in a year to come out with its forecasts.