Finance Minister Chrystia Freeland is set to release the federal government’s Fall Economic Statement this Thursday. Here's what economists will be watching for.
Robert Kavcic, director and senior economist at the Bank of Montreal said the economic update comes on the “heels of a better-than-expected result” for the financial year calendar of 2021 to 2022.“The 2022 budget pegged this year’s deficit at $52.8 billion, which also looks on track for improvement,” Kavcic wrote in a note to clients on Friday.
Young added that she expects the update will “likely to play up the $4.5 billion in measures announced earlier this fall under the Cost of Living Act,” which include a time-limited doubling of the GST credit, a one-time payment for renters and a dental benefit.doubling the GST Tax CreditTo help you pay the bills, we’re doubling the GST Tax Credit for 6 months for 11 million households.
She added that Canada needs to spend around $35 billion per year until 2030, with a focus on electricity, oil and gas, and transportation.
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