ÐÇ¿Õ´«Ã½

Politics

    • With inflation pressures rising, Liberals to give budget update on Dec. 14

    Share
    OTTAWA -

    Canadians will soon get an update on the health of federal finances and the government's outlook for an economy facing high inflation rates, flooding in British Columbia and the emergence of a new variant of COVID-19.

    Finance Minister Chrystia Freeland will deliver the update on Dec. 14, just three days before MPs are scheduled to leave Ottawa for a winter break.

    Federal finances have taken a beating during the pandemic as the treasury pumps out unprecedented aid. The government predicted the deficit for last fiscal year would be $354.2 billion, and nearly $155 billion this year.

    Higher oil prices among other economic factors are expected to pad the government's bottom line. UBC economist Kevin Milligan estimated the extra wiggle room could be as much as $10 billion, giving the Liberals some budgetary breathing room just past the midway point of the fiscal year.

    "Our government's focus is to finish the fight against COVID and to support our recovery from the COVID recession," Freeland said in the House of Commons on Thursday "We know it's important to Canadians that we are careful and transparent with our nation's finances."

    Shortly after Freeland spoke, MPs voted to send the Liberals' latest aid package for a committee review, likely on Monday.

    Freeland will face a two-hour grilling on the $7.4-billion plan to provide support for workers affected by lockdowns, and targeted help to the hardest hit businesses.

    Politically, the New Democrats are looking for more spending on aid to workers after benefits were cut off, with deputy leader Alexandre Boulerice chiding the Liberals for being "completely out of touch" with the needs of Canadians.

    Conservative finance critic Pierre Poilievre chided the government for releasing an economic update with only a few days for it to be scrutinized in the House of Commons, and said his party wants the Liberals to reduce spending to pre-pandemic levels to help with cost of living concerns.

    The Liberals have promised to spend $100 billion in stimulus, and pledged billions more in the election campaign, which has stoked warnings from experts that too much spending could fan inflation by increasing consumer demand at a time when the supply of goods can't keep up.

    "It seems to me that you combine this with all the savings Canadians have right now and that's a lot of money in the economy in the short-term," said Robert Asselin, senior vice-president of policy at the Business Council of Canada and a former Liberal budget chief.

    "You just want to be careful not to fuel more consumption, more demand, and make inflation worse."

    Rebekah Young, Scotiabank's director of fiscal and provincial economics, said it would make sense to hold back on unleashing major parts of the extra $53 billion in net new spending pledged on the campaign trail, at least for now until inflation rates start coming down.

    "I expect this spending still has a good chance of seeing the light of day, just not before the holidays," Young said.

    She said messages coming out of the Finance Department point to a minimalist update instead of one with many new spending measures.

    In place of spending, the Liberals are being asked for details about how to tackle supply-chain issues that have helped send the inflation rate to an 18-year high, which wasn't in the government's outlook in the spring budget.

    "It's important for them to set out what their strategy is to deal with these changed circumstances," said Perrin Beatty, president of the Canadian Chamber of Commerce.

    The government's response to inflation has been to point to its national child-care strategy, which aims by next year to lower rates by half on average, and its promises to spend more to make housing more affordable.

    Asselin said the child care spending, while helpful, won't address the scale of inflation issues now. He also said the Liberals may not be able to address many of the vulnerabilities in the housing sector, noting there is little the government can do once you own a house and have a mortgage.

    Milligan, in an analysis for the C.D. Howe Institute, suggested the government not add too much debt to "preserve borrowing capacity for future crises" and prepare for extra costs associated with an aging population.

    This report by The Canadian Press was first published Dec. 2, 2021.

    IN DEPTH

    Opinion

    opinion

    opinion Don Martin: Gusher of Liberal spending won't put out the fire in this dumpster

    A Hail Mary rehash of the greatest hits from the Trudeau government’s three-week travelling pony-show, the 2024 federal budget takes aim at reversing the party’s popularity plunge in the under-40 set, writes political columnist Don Martin. But will it work before the next election?

    opinion

    opinion Don Martin: How a beer break may have doomed the carbon tax hike

    When the Liberal government chopped a planned beer excise tax hike to two per cent from 4.5 per cent and froze future increases until after the next election, says political columnist Don Martin, it almost guaranteed a similar carbon tax move in the offing.

    CTVNews.ca ÐÇ¿Õ´«Ã½

    Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

    The search for a missing six-year-old boy in Shamattawa is continuing Friday as RCMP hope recent tips can help lead to a happy conclusion.

    BREAKING

    BREAKING

    The New Brunswick RCMP is asking people to stay away from the Starkey Road area in Long Creek, N.B., as they search for an armed teenager.

    An Ontario man says it is 'unfair' to pay a $1,500 insurance surcharge because his four-year-old SUV is at a higher risk of being stolen.

    Canada

    • The search for a missing six-year-old boy in Shamattawa is continuing Friday as RCMP hope recent tips can help lead to a happy conclusion.

    • BREAKING

      BREAKING

      The New Brunswick RCMP is asking people to stay away from the Starkey Road area in Long Creek, N.B., as they search for an armed teenager.

    • For the last seven-and-half months, Toronto resident Heather McArthur has been living out what she describes as her 'worst nightmare.' On Feb. 7, her then three-year-old son Jacob along with his father Loc Phu 'Jay' Le departed for what was supposed to be a week-long visit to Vietnam to celebrate the Lunar New Year with family, McArthur says.

    • BREAKING

      BREAKING

      Michael Ford, Ontario's minister of citizenship and multiculturalism, says he is taking a leave of absence from cabinet to prioritize his health.

    • Emergency crews in northern Ontario found the bodies of four people inside a home where a fire broke out Thursday night.

    • Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

    World

    Politics

    Health

    • A Nova Scotia woman has applied for a medically assisted death, saying after years of battling to receive out-of-country surgery for an illness that causes 'indescribable' pain, she struggles to maintain the will to live.

    Sci-Tech

    Entertainment

    • It will be the last show for longtime children's TV star Ron (Buck Shot) Barge as a memorial is held Friday in Calgary.

    • Viewers of Jeopardy got a chance to test their knowledge of trivia about B.C.'s biggest city Wednesday night.

    Business

    Lifestyle

    Sports

    • Agreement in principle has been reached to build a new NHL arena at LeBreton Flats has been reached between the Ottawa Senators and the National Capital Commission (NCC), the two sides announced Friday.

    • F1 star Max Verstappen punished over bad word

      Formula One points leader Max Verstappen was ordered to 'accomplish some work of public interest' after uttering an inappropriate word Thursday at the news conference ahead of the Singapore Grand Prix.

    • The Winnipeg Jets have some huge holes to fill on both offence and defence this season.

    Autos

    Local Spotlight

    They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.

    A growing group of brides and wedding photographers from across the province say they have been taken for tens of thousands of dollars by a Barrie, Ont. wedding photographer.

    Paleontologists from the Royal B.C. Museum have uncovered "a trove of extraordinary fossils" high in the mountains of northern B.C., the museum announced Thursday.

    The search for a missing ancient 28-year-old chocolate donkey ended with a tragic discovery Wednesday.

    The Royal Canadian Mounted Police is celebrating an important milestone in the organization's history: 50 years since the first women joined the force.

    It's been a whirlwind of joyful events for a northern Ontario couple who just welcomed a baby into their family and won the $70 million Lotto Max jackpot last month.

    A Good Samaritan in New Brunswick has replaced a man's stolen bottle cart so he can continue to collect cans and bottles in his Moncton neighbourhood.

    David Krumholtz, known for roles like Bernard the Elf in The Santa Clause and physicist Isidor Rabi in Oppenheimer, has spent the latter part of his summer filming horror flick Altar in Winnipeg. He says Winnipeg is the most movie-savvy town he's ever been in.

    Edmontonians can count themselves lucky to ever see one tiger salamander, let alone the thousands one local woman says recently descended on her childhood home.

    • New Democrat Leader David Eby has launched his British Columbia election campaign a day early, making the key battle ground of Surrey his first stop.

    • The seats from a stolen e-bike that was customized for a Surrey, B.C., child with complex health needs have been recovered – but the bike itself has yet to be found.

    • Thousands of protesters are expected to march into downtown Vancouver on Friday, demanding more action from their government to address the growing climate crisis.

    • BREAKING

      BREAKING

      Michael Ford, Ontario's minister of citizenship and multiculturalism, says he is taking a leave of absence from cabinet to prioritize his health.

    • The Ford government is considering restricting Ontario municipalities from installing new bike lanes that would require the removal of lanes of traffic, a source confirms to CTV News Toronto.

    • For the last seven-and-half months, Toronto resident Heather McArthur has been living out what she describes as her 'worst nightmare.' On Feb. 7, her then three-year-old son Jacob along with his father Loc Phu 'Jay' Le departed for what was supposed to be a week-long visit to Vietnam to celebrate the Lunar New Year with family, McArthur says.

    • It will be the last show for longtime children's TV star Ron (Buck Shot) Barge as a memorial is held Friday in Calgary.

    • China's ongoing ban on Canadian beef appears to have no end in sight, making it a textbook example of the uncertainty Canadian exporters continue to face in that market.

    • Alberta Health Services says an E. coli outbreak at a daycare in Blackfalds has ended.

    • Agreement in principle has been reached to build a new NHL arena at LeBreton Flats has been reached between the Ottawa Senators and the National Capital Commission (NCC), the two sides announced Friday.

    • Maplewood Secondary School is scheduled to open Monday after receiving a permit Friday morning allowing 50 per cent of the building to be occupied.

    • Ottawa Fire Services says a driver has been safely extricated after being trapped following a two-vehicle collision near a high school in the city’s south end.

    • The Montreal couple from Mexico and their three children facing deportation have received a temporary residence permit.

    • The province's public security minister said he was "shocked" Thursday amid reports that a body believed to be that of a 14-year-old boy was found this week near a Hells Angels hideout near Quebec City.

    • A man who asserted his right to work in French has won his case before the Tribunal, invoking the new provisions of the province's French-language law (Bill 96) to that effect.

    • Mounties say there was an increased police presence in the Emerald Hills area of Sherwood Park on Friday morning as officers searched for a man who is wanted by police.

    • Alberta Health Services says an E. coli outbreak at a daycare in Blackfalds has ended.

    • One person has been charged and an arrest warrant has been issued for a second in connection with an Alberta Emergency Alert earlier this week.

    • BREAKING

      BREAKING

      The New Brunswick RCMP is asking people to stay away from the Starkey Road area in Long Creek, N.B., as they search for an armed teenager.

    • A Nova Scotia woman has applied for a medically assisted death, saying after years of battling to receive out-of-country surgery for an illness that causes 'indescribable' pain, she struggles to maintain the will to live.

    • A black bear that was tranquilized in a park in Dartmouth, N.S., has been released back into the wild, according to the Nova Scotia Department of Natural Resources and Renewables (DNRR).

    • The search for a missing six-year-old boy in Shamattawa is continuing Friday as RCMP hope recent tips can help lead to a happy conclusion.

    • A Manitoba veterinary clinic has two new ways of figuring out what’s causing a horse to be lame.

    • Manitoba's government says it will encourage the development of renewable energy in the province while acknowledging fossil fuels aren't going away any time soon.

    • Arguments between UR Pride and the Government of Saskatchewan on the Parents’ Bill of Rights will be moving ahead to the Court of Appeal for Saskatchewan beginning on Monday, Sept. 23.

    • Driving into the tunnels of Nutrien's Rocanville mine, the largest potash mine in the world by production volume, feels like driving down a lonely highway in the middle of the night.

    • Levels of hydrogen sulfide gas are being monitored at Brantford Collegiate Institute after a leak in their geothermal system.

    • Ontario police say they have arrested four members of the Hells Angels Motorcycle Club (MC) and seized a number of firearms after an alleged assault and robbery in Hamilton in July.

    • The second-degree murder trial of Thomas Hamp is being adjourned until December so an expert witness central to the trial can testify.

    • A 69-year-old woman from Outlook, Saskatchewan is dead and three people are injured after a truck and SUV collided on Highway 15 on Thursday.

    • A gym teacher at a private Christian school in Saskatoon has been charged. Terra MacEwan, 44, is charged with assault with a weapon. A Saskatoon mother who spoke with CTV News says her autistic son was MacEwan's victim.

    • Emergency crews in northern Ontario found the bodies of four people inside a home where a fire broke out Thursday night.

    • Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

    • Two people emerged unhurt after a float plane had a hard landing late Friday morning on Lake Temiskaming.

    • The Elgin Community Health Hub, operated by the Thames Valley Family Health Team, is accepting new patients to a model where doctors are rarely seen.

    • Members of the 2SLGBTQ+ community and supportetrs greatly outnumbered the people attending a '1 Million March 4 Children' event along Central Avenue.

    • Today, the 71 year old is marking 50 years a paramedic. He said he never aspired to move into management or a desk job, he enjoys being on the road, helping patients too much.

    • Two men from Barrie have been charged after a deadly shooting at a park in Keswick on Wednesday.

    • Provincial police are investigating vandalism in Huntsville after the "senseless destruction" of flower displays along Main Street East.

    • A 17-year-old from Markham is facing serious charges after an August 11 shooting at a party in Caledon.

    • Windsor police say a 25-year-old mother has been charged with the drowning death of her 5-year-old child in the family’s backyard pool.

    • There is no threats to public safety following an incident involving a gun at a local high school.

    • A LaSalle couple has won $1 million after buying a ticket for the Aug. 13 LottoMax draw.

    • New Democrat Leader David Eby has launched his British Columbia election campaign a day early, making the key battle ground of Surrey his first stop.

    • The Old Man Lake wildfire near Sooke is the only one currently burning on Vancouver Island. It’s a region of the province that this year saw a drastic drop in blazes in the backcountry.

    • The Nuu-chah-nulth Tribal Council (NTC) has declared a state of emergency in all 14 of its member First Nations due to a mental health and opioid crisis.

    • A pair of runaway pigs are in the custody of an animal sanctuary in the Okanagan after evading police and volunteers for hours earlier this week.

    • The Red Bridge, a historic landmark in Kamloops, B.C., was completely destroyed by fire early Thursday morning.

    • Animal protection officers in British Columbia have rescued three pit bulls – including one that gave birth to 10 puppies – from a rat-infested home in Kelowna.

    • A Vulcan, Alta., man has been charged with a Lethbridge woman's murder after her body was found in the Oyen area.

    • A Lethbridge couple got a good reminder as to why you should keep your vehicle doors locked at all times.

    • Lethbridge residents who live near the police range can expect to hear plenty of shots fired Wednesday and Thursday.

    • Ontario Provincial Police say three suspects from southern Ontario have been charged and drugs worth $300,000 have been seized following a traffic stop Sept. 16.

    • A Brampton driver, 27, was charged this week when northern Ontario police stopped the SUV he was driving on Highway 17 after a reported shooting and found more than $100,000 in cash.

    • A new community health profile in the Algoma District shows the area is significantly below provincial averages in a number of health metrics.

    N.L.

    Stay Connected
    Follow CTV News