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New Liberal government: We need advice on how to boost economy

TORONTO – Federal Finance Minister Bill Morneau says the new Liberal government will seek advice from experts in Canada and abroad on how to boost economic growth.

In a Toronto speech, Morneau said the government will form an advisory council that will include people who have experience growing successful economies, from both the private and public sectors.

He says the advisers will help the government figure out how to deal with the country’s longer-term economic challenges. Morneau says he will unveil the advisory council early in the new year.

MORE: Latest coverage — recession watch 

The economy contracted over the first two quarters of 2015 as it struggled to rebound following the steep slide in commodity prices and the failure of other sectors to pick up the slack.

Morneau has also insisted that the Liberals inherited a worse-than-expected fiscal environment from the former Conservative government.

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WATCH: Federal Finance Minister Bill Morneau said Monday growing debt loads among Canadian households warrant close monitoring, but he’s confident in the economy.

 

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