July 20th, 2024

Freeland says feds will strike ‘challenging’ balance in fall budget update

By The Canadian Press on October 24, 2023.

Deputy Prime Minister and Minister of Finance Chrystia Freeland responds to a question during a news conference, Tuesday, October 24, 2023 in Ottawa. Freeland says the fall economic statement will focus on housing and affordability, but will do so all within a fiscally responsible framework.THE CANADIAN PRESS/Adrian Wyld

OTTAWA – Finance Minister Chrystia Freeland says the government’s fall economic statement will focus on housing and affordability within a fiscally responsible framework.

In an news conference today, Freeland acknowledges it will be a challenging balance to strike, but says the Liberals are committed to it.

The federal government’s financial statements were published today, revealing the deficit for the 2022-23 fiscal year came in at $35.3 billion.

That’s $7.7 billion lower than projected in the spring budget.

The federal government is facing pressure to rein in spending after the COVID-19 pandemic, particularly as the economy slows.

However, it is also facing considerable pressure to address the national housing crisis, as polling shows support for the governing Liberals is taking a hit.

This report by The Canadian Press was first published Oct. 24, 2023.

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