Nov 10, 2015

By Bob Komsic

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Finance Minister Bill Morneau is not saying if it’ll include bigger projected budget deficits than what voters heard during the election campaign, but Canadians can expect a fiscal update in the coming weeks.

The Parliamentary Budget Office says the Trudeau Liberals will have to contend with bigger-than-expect deficits in the coming years as they begin rolling out their spending plans.

The federal budget watchdog’s prediction follows a downgrade of its economic outlook, blaming the gloomier forecast on weaker growth, low commodity prices and shrinking revenues.
Morneau says it’s too early to say if the slowdown, coupled with the Liberals plans, will translate into bigger deficits.
During the campaign, the party projected deficits of around $10-billion annually over the next three years to create jobs and fund infrastructure.
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