Budget 2019

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Post by Terminator on Wed 20 Feb 2019, 4:52 pm

2019 federal budget to be tabled March 19: Morneau

Budget 2019 Image
Minister of Finance Bill Morneau responds to a question during Question Period in the House of Commons Monday February 4, 2019 in Ottawa. THE CANADIAN PRESS/Adrian Wyld


The Canadian Press
Published Wednesday, February 20, 2019


OTTAWA - Finance Minister Bill Morneau says the federal government will introduce its pre-election budget on March 19.

The document will be the Trudeau government's fourth budget since the Liberals won the 2015 election -- and its final one before October's federal election.

Morneau made the announcement today in the House of Commons.


The budget is expected to include money to help workers get the skills training they need to adjust to the rapidly changing workforce.

Morneau has also said the Trudeau government is looking for ways to make home-buying more affordable for millennials -- something that could be addressed in the budget.

He's also hinted his budget will address some of the issues around pharmacare.





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Post by Xforce2000 on Thu 14 Mar 2019, 8:37 am

Federal budget expected to have more wiggle room, even with weaker outlook

Budget 2019 Image
Finance Minister Bill Morneau delivers the federal budget in the House of Commons in Ottawa on Tuesday, Feb.27, 2018.



Andy Blatchford, The Canadian Press
Published Thursday, March 14, 2019


OTTAWA -- The improved economy is expected to give the Trudeau government more fiscal room than anticipated in next week's pre-election budget -- but a wobbly economic finish to 2018 means conditions could look much different as the October vote approaches.

An abrupt deceleration in economic growth over the final three months of 2018 has dimmed the outlook for this year. Last week, the Bank of Canada predicted a weaker economic performance through the first half of 2019, compared to its previous forecast of just a short slump.

Still, the economy posted solid numbers for much of last year and employment has remained particularly strong. Some experts predict it's been enough of a boost to give the Liberal government billions more in fiscal wiggle room.


With extra money, hints of tougher times ahead and an election just months away, the government is expected to use up all that space based on the argument the economy will need stimulative investments.

Scotiabank chief economist Jean-Francois Perrault said larger-than-expected government revenues last year mean Ottawa could have as much as $5 billion more than it had predicted in its November update to dedicate to new pre-election spending, or even tax cuts.

"It's this really fascinating mix of political challenges with some uncertainty on the economic side," said Perrault, a former assistant deputy minister under Finance Minister Bill Morneau.

"The Trudeau government is clearly in more difficulty now (politically) than it was six months ago. They're probably going to be looking for something on the budgetary side that will increase their chances of being elected."

CIBC chief economist Avery Shenfeld also sees the Liberals in a stronger fiscal starting position, but with economic headwinds in the forecast.

"There's good news and bad news, in a sense, for the fiscal path," said Shenfeld, who also noted the effects of an approaching election on budget decisions.

"I'm expecting cheques to go out somewhere. Remember that in the last election the party that won was the one party not promising to balance the budget... The recent sluggishness of the economy is just one more reason to expect a budget that sends out some goodies."

Morneau has said his fourth budget will focus on helping workers get the skills they need and on ensuring seniors feel optimistic about their futures. The government, he added, is looking for ways to make homes more affordable for millennials, while keeping the housing market stable.

The Liberals also intend to use the budget to lay out how they will achieve their two main goals on pharmacare: keeping costs down and ensuring better coverage for everyone.

The budget will also update the country on the state of the federal books, which could prove to be an important ballot-box concern for many voters.

The Liberals' fiscal record has faced regular criticism from the Opposition and some economists. In particular, the Conservatives have targeted the Liberals over their decisions to ditch their 2015 election vow to run only modest annual shortfalls and to eliminate the deficit by 2019.

Instead, the Liberals have posted deficits of more than $18 billion in each of the last two years, with no timeline to achieving balance.

In November's update, the government projected annual deficits of $18.1 billion in 2018-19, $19.6 billion in 2019-20 and $18.1 billion in 2020-21.

Morneau has shifted his focus to reducing the net-debt-to-GDP ratio -- a way of describing how burdensome debt is, relative to the national economy-- each year.

TD senior economist Brian DePratto recalls how in past budgets the Liberals have enjoyed "growth dividends" because the economy had outperformed expectations. The extra fiscal room enabled them to use up the space without affecting the debt-to-GDP anchor.

This time, however, things are different because the overall economic picture has "clearly degraded," he said.

"It's a little bit of a funny one because there's a lot of these different currents playing out at once that differ a bit from what we've seen in different years," DePratto said.

"There's also the challenge of, well, if we're going into a slower-growth period where the risks are mounting, perhaps there's more impetus for spending regardless of anything else."





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Post by Garrison on Thu 14 Mar 2019, 9:23 pm

Power Play: 2019 budget faces global uncertainty March 14, 2019

Laurentian Bank Securities' Sebastien Lavoie discusses what Canadians can expect from next week's pre-election federal budget.



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Post by Stanleyz on Sun 17 Mar 2019, 8:51 am

What to expect in budget 2019 | Power & Politics

CBC News
Published on Mar 15, 2019



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Post by Featherally on Sun 17 Mar 2019, 5:04 pm

'Call out your colleagues': Poilievre, Ramsey debate political rhetoric March 17, 2019



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Post by Featherally on Sun 17 Mar 2019, 5:11 pm

"Your Arrogance is Shameful" Lisa Raitt OWNS Justin Trudeau in a Fiery exchange

7Mysteries
Published on Mar 17, 2019



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Post by ScottyG on Mon 18 Mar 2019, 11:35 am

"Your Arrogance is Shameful" Lisa Raitt - talk about the kettle calling the pot black I met this lady in NS before the settlement of Manuge lawsuit. She was Arrogance and totally politically correct she wouldn't answer any questions regarding veterans. I do not trust her.
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Post by Terrarium on Mon 18 Mar 2019, 8:44 pm

Economists outline what to expect ahead of the 2019 budget

cpac
Published on Mar 18, 2019



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Post by kirsch on Tue 19 Mar 2019, 7:54 am

Budget to tout Liberal economic record, provide distraction from SNC furor



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Post by kirsch on Tue 19 Mar 2019, 9:04 am

BIG SPENDING BUDGET?: Liberals will bribe us with our own money!

Toronto Sun
Published on Mar 18, 2019



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Post by kirsch on Tue 19 Mar 2019, 9:10 am

Taking stock of Canada's economy ahead of budget day

CBC News: The National
Published on Mar 18, 2019



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Post by Leopard on Tue 19 Mar 2019, 12:05 pm

Will the 2019 budget announcement be good for millennials?

Your Morning
Published on Mar 19, 2019



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Post by Leopard on Tue 19 Mar 2019, 1:40 pm

What to expect in Trudeau's pre-election budget | Catherine Swift

Rebel Media
Published on Mar 19, 2019



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Post by Edgefore on Tue 19 Mar 2019, 5:53 pm

Liberals table a pre-election budget designed to ease Canadians' anxieties

Kathleen Harris · CBC News · Posted: Mar 19, 2019

https://www.cbc.ca/news/politics/bill-morneau-budget-2019-1.5061476



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Post by Edgefore on Tue 19 Mar 2019, 5:56 pm

Liberals look to shore up veterans vote with transition cash


Many vets abandoned the Conservatives in 2015. The Liberals are anxious to keep them on-side

Murray Brewster · CBC News · Posted: Mar 19, 2019


Budget 2019 Military-reserves-politics-20150204

The Liberal government is pouring $135 million over six years into the system that attempts to smooth veterans' transition from uniforms to civilian life.

It's one of a series of relatively small measures for the veterans community contained in Finance Minister Bill Morneau's new budget — the Trudeau government's last fiscal plan before this year's election.

The transition measures fall short of recommendations made by the former Canadian Forces ombudsman and, in some cases, those of the House of Commons veterans committee.

Other initiatives in the budget include a $150 million, five-year survivors fund for veterans' spouses who married over the age of 60, and long-awaited recognition for Metis who fought in the Second World War.

Both of those plans appear to be aimed at key demographics the Liberals hope to capture in the fall election.

More significant, though, is the fact that the budget put money behind many of the transition initiatives announced last fall by Defence Minister Harjit Sajjan and then-veterans minister Seamus O'Reagan.

Both the Department of National Defence and Veterans Affairs are focused on improving what has been described as a chaotic transition system — one which sometimes forces veterans to wait months for their military pensions, benefits and rehabilitation to kick in.

The budget contains a number of previously announced initiatives, including better training and a transition guide for retiring members.


What it doesn't contain is a specific reference to a personalized 'consigner service' which would shepherd soldiers, sailors and aircrew through the complicated system of forms, benefits and eligibility rules involved in retiring from the military.

That's something former ombudsman Gary Walbourne recommended. The federal government has promised already to turn it into a pilot program, but there's no mention of a pilot in the budget document.

The budget also is silent on how to resolve an enormous backlog of disability benefits applications, which was estimated at roughly 40,000 files last November.

Instead, the budget offered a series of new, relatively small initiatives to underscore what the Liberal government has done for veterans. Many veterans abandoned the Conservatives in the last election but have grown increasingly restless and disillusioned since.

Prominent among the previously-announced plans in the new budget is the upcoming implementation of the so-called pension-for-life plan — a major promise made by the Liberals in the last election.

The $3.6 billion investment was announced in the 2018 budget, with a rollout scheduled for April 1, 2019.

Among the new proposals is a $150 million, five-year survivor's fund for the spouses of veterans who married after age 60.

And as part of its reconciliation effort with the aboriginal community, Ottawa has set aside $30 million to recognize Metis veterans who fought for Canada in the Second World War.

That plan has been the subject of long, detailed negotiations with the Metis community, which has urged the federal government to move quickly because of the dwindling number of living former soldiers.





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