The federal government will release a fall economic update on Wednesday that will seek to close the loop on some of its outstanding mandate commitments, leaving the door open for the Liberals to use next year’s budget as their 2019 election platform.
WATCH: Fall Economic Statement will ‘focus on’ competiveness, trade deals, PM says
The document will also include Finance Minister Bill Morneau’s long-awaited plan to help Canada compete for investment dollars, which many warn has become increasingly difficult following major tax and regulatory changes in the United States.
Morneau has faced pressure to lower Canada’s corporate rate – but the government has signalled it will focus on targeted measures to accelerate investment rather than across-the-board tax cuts.
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A government official, who spoke on condition of anonymity, says Ottawa’s competitiveness blueprint will be fiscally responsible and designed to entice companies to choose Canada over the U.S. when it comes to investments.
WATCH: Conservatives, Liberals continue to spar over when budget will be balanced
The official says the fall statement will also show that Canada’s annual projections for the federal deficit and the debt burden will continue to slide downward on trajectories similar to those outlined in the 2018 budget.
The Liberals have faced regular criticism from the Opposition Conservatives for abandoning their 2015 vow to run only modest annual shortfalls of no more than $10 billion and to eliminate the deficit by 2019.
WATCH: Conservatives press Liberals to keep deficit below $6B in 2018 budget
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