Archived - Minister Morneau Meets With Private Sector Economists: 2016-02

February 12, 2016 – Toronto, Ontario – Department of Finance

As the Department of Finance continues its pre-budget consultations, Finance Minister Bill Morneau met today with a group of Canada’s leading private sector economists to gather their views on the Canadian and global economies.

The private sector economic forecasts have been used as the basis for fiscal planning since 1994 and introduce an element of independence into the Government’s fiscal forecast. This practice has been supported by international organizations such as the International Monetary Fund.

• Though recent global economic developments are more negative than expected in last November’s Update of Economic and Fiscal Projections, the economists noted that Canada’s underlying economic and fiscal fundamentals remain sound.
• On January 1^st, the Government cut taxes for an estimated 9 million Canadians through its middle class tax cut. This is a first step in a plan to grow the economy by strengthening the middle class, making historic investments in infrastructure and enhancing child benefits for low- and middle-income Canadians.
• The Government is committed to investing in the economy and creating conditions for long-term economic growth.

• Update of Economic and Fiscal Projections (November 2015)

Annie Donolo
Press Secretary Office of the Minister of Finance
613-369-5696

Jack Aubry
Media Relations
Department of Finance
613-369-4000