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Economists to push for fiscal restraint in pre budget meeting with Morneau
– canadianbusiness.com
OTTAWA _ With so much uncertainty surrounding trade and competitiveness, private-sector economists will press Finance Minister Bill Morneau to keep his fiscal powder dry when they gather later this week for a pre-budget meeting.
Morneau is scheduled to sit down Friday in Toronto with leading economists at a roundtable that typically includes about a dozen experts from commercial banks, think tanks and trade associations.
Finance ministers routinely call on outside economists for input and forecasts as part of the budget-writing process. Their projections are averaged to create a fiscal foundation for the budget, which could come as early as this month.
Some economists say that late-2017 improvements in the economy will likely give Morneau more fiscal elbow room in the budget, compared to his October update. Others are less optimistic about the changes in recent months and expect the government to find itself in a similar budgetary position.
But regardless of the fiscal footing, there’s agreement that the government should proceed with caution…
Morneau is scheduled to sit down Friday in Toronto with leading economists at a roundtable that typically includes about a dozen experts from commercial banks, think tanks and trade associations.
Finance ministers routinely call on outside economists for input and forecasts as part of the budget-writing process. Their projections are averaged to create a fiscal foundation for the budget, which could come as early as this month.
Some economists say that late-2017 improvements in the economy will likely give Morneau more fiscal elbow room in the budget, compared to his October update. Others are less optimistic about the changes in recent months and expect the government to find itself in a similar budgetary position.
But regardless of the fiscal footing, there’s agreement that the government should proceed with caution…
The Supreme Court of Canada will hear a case this week that could determine whether industrial sites across the country are cleaned up when a company goes bankrupt.
