22.58°C Vancouver

Dec 10, 2024 4:43 PM - The Canadian Press

Freeland doesn't commit to meeting her own deficit target in fall economic statement

Share On
freeland-doesnt-commit-to-meeting-her-own-deficit-target-in-fall-economic-statement
Freeland says she expects the fall economic statement, which she will present on Dec. 16, will show a declining debt-to-GDP ratio.(Photo: The Canadian Press)

Finance Minister Chrystia Freeland is not committing to meeting the $40.1-billion deficit target she set for the government last year.

Freeland says she expects the fall economic statement, which she will present on Dec. 16, will show a declining debt-to-GDP ratio.

When asked if she would also meet her deficit target, Freeland wouldn't answer, saying she chose her words "carefully."

The finance minister announced a set of fiscal guardrails last fall in response to pressure from the Bank of Canada and economists to avoid fuelling inflation with too much spending.

Freeland now appears to be ditching at least one of those guardrails, which was to keep the deficit at or below $40.1 billion for the previous fiscal year.

The parliamentary budget officer projected the deficit would be $46.8 billion.

Latest news

canadas-dabrowski-and-partner-routliffe-win-u-s-open-womens-doubles-title
EnglishSep 05, 2025

Canada's Dabrowski and partner Routliffe win U.S. Open women's doubles title

Canadian tennis player Gabriela Dabrowski has won the US Open Grand Slam title with her New Zealand partner Erin Rutliff. The Canadian player won the women's doubles title in straight sets with her partner. Together, the two defeated the pair of Taylor Townsend and Katerina Siniakova 6-4, 6-4. Earlier, Gabriela Dabrowski also won the US Open title in 2023. Pawan Sahni, of Newton Tennis Club in Surrey, says “the win is a boost for Canadian tennis.” He added, on one hand, just a few weeks ago, young player Victoria Mboko won the Canadian Open title, and now, with Canada's senior player win
BCSep 05, 2025

Coquihalla Highway reopened following wildfire closure

The Coquihalla Highway (Highway 5) between Hope and Merritt has reopened in both directions following a closure caused by the Mine Creek wildfire. Due to the proximity of the fire, drivers should be prepared for the Coquihalla Highway to be closed with minimal notice. Drivers are advised to not stop in the fire zone. Intermittent lane closures can be expected as crews continue to assess and repair roadside damage, and visibility is reduced due to wildfire smoke. Drivers should also be prepared for an increased risk of wildlife presence due to fire damage to wildlife-exclusion fencing on this s
police-investigate-early-morning-shots-fired-in-south-surrey
CanadaSep 05, 2025

Police Investigate Early Morning Shots Fired in South Surrey

Surrey Police Service (SPS) is investigating an early morning shooting that occurred in South Surrey. On September 5, 2025, at approximately 3:50 am, SPS responded to reports of shots fired in the 14300 block of 28 Avenue, Surrey. Upon arrival, members located numerous shell casings on 28 Avenue. It does not appear that any residences were damaged and nobody was injured. SPS Frontline Investigation Support (FLIS) Team are attending and have taken conduct of the investigation. Investigators believe this incident is related to an ongoing extortion investigation.
ministers-statement-on-the-cowichan-valley-transit-labour-dispute
BCSep 05, 2025

Special mediator appointed to resolve Cowichan Valley transit labour dispute

Jennifer Whiteside, Minister of Labour, has issued the following statement on the Cowichan Valley transit labour dispute: “This strike has been deeply disruptive to people living in the Cowichan Valley, who rely on transit to get to work, go to school, attend medical appointments and access everyday services. “This dispute has gone on for far too long. There’s a real urgency for the parties to get back to the table, find a fair resolution and get transit services back on the road. “To help the parties resolve the ongoing labour dispute, I have appointed Vince Ready as a special mediato
elon-musks-neuralink-brain-chip-implanted-into-two-quadriplegic-canadian-patients
CanadaSep 05, 2025

Elon Musk's Neuralink brain chip implanted into two quadriplegic Canadian patients

Two Canadian patients with spinal cord injuries have received Neuralink brain implants that have allowed them to control a computer with their thoughts. They are part of the first clinical trial outside of the United States to test the safety and effectiveness of Elon Musk's Neuralink wireless brain chip, which he introduced to the public in 2020, and was first implanted in a paralyzed American in 2024. The Canadian men, both around 30 years old – one from Ontario, the other from Alberta – have limited or no ability to use their hands. Dr. Andres Lozano, a neurosurgeon at University Health

Related News