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Ottawa to roll out fiscal update, lay out plan to compete for investment dollars

Click to play video: 'Fall Economic Update: Trump administration’s actions take centre stage' Fall Economic Update: Trump administration’s actions take centre stage
WATCH: Finance Minister Bill Morneau tabled the annual fiscal update this afternoon in the House of Commons. Our Chief Political Correspondent David Akin reports that there's plenty of new spending and new tax measures -- much of it in response to changes south of the border – Nov 21, 2018

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

Click to play video: 'Fall Economic Statement will ‘focus on’ competiveness, trade deals: Trudeau' Fall Economic Statement will ‘focus on’ competiveness, trade deals: Trudeau
Fall Economic Statement will ‘focus on’ competiveness, trade deals: Trudeau – Nov 21, 2018

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.

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READ MORE: Canada’s 2018 budget contains no timetable to balance books

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.

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

Click to play video: 'Conservatives, Liberals continue to spar over when budget will be balanced' Conservatives, Liberals continue to spar over when budget will be balanced
Conservatives, Liberals continue to spar over when budget will be balanced – Nov 21, 2018

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.

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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

Click to play video: 'Conservatives press Liberals to keep deficit below $6B in 2018 budget' Conservatives press Liberals to keep deficit below $6B in 2018 budget
Conservatives press Liberals to keep deficit below $6B in 2018 budget – Feb 26, 2018

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