OTTAWA — Finance Minister Chrystia Freeland is expected to table the federal government's fall economic statement on Nov. 21, a mini-budget that will serve as an update on federal finances and contain new measures that reflect the government's priorities.
The federal government is also facing fiscal pressures from a slowing economy and scrutiny for excessive government spending.The Canadian economy is staring down a potential recession as high interest rates weigh on economic growth. The economic contraction is expected to affect federal revenues, giving the government less room to finance new measures.
"Economists now expect that economic activity is much weaker in 2024 than the federal government anticipated in budget 2023, which is going to ultimately weigh on revenues and lead to a larger deficit than was anticipated at the time in the budget," Bartlett said.
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