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Exclusive-Canada’s fall fiscal update to be ‘limited in scope’

by Mike Robinson

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© Reuters. FILE PHOTO Canada’s Prime Minister Justin Trudeau responds to the Throne Speech at the House of Commons in Ottawa (Ontario, Canada) November 30, 2021. REUTERS/Blair Gable

Steve Scherer

OTTAWA, (Reuters) – Canadian Prime Minister Justin Trudeau will present new economic and fiscal projections late this month. However, fresh spending will not be necessary as the document is “limited in scope,” a source who was familiar with its drafting told Reuters.

Trudeau won his third election in September. He is now under pressure by the opposition and business groups to reduce spending. They fear government spending will increase inflation which has reached an 18-year high.

According to a second source, “We’re going be prudent,” the official said.

The prime minister’s and the finance ministry did not immediately comment.

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