Freeland says the budget will account for new health transfers to provinces and investments to ensure Canadian industry can compete, while pointing to to inflation, rising interest rates as reasons for fiscal restraint
Chrystia Freeland is emphasizing the need for fiscal restraint as she finalizes her 2023 federal budget, pointing to concerns about inflation and high interest rates as key reasons Ottawa must ease up on new spending.
Ms. Freeland said the budget will need to account for the federal government’s recently announced 10-year plan to increase health transfers to the provinces Federal finance ministers tend to give strong indications of a budget’s direction ahead of time, in an effort to manage the public’s expectations.
“Taken together, inflation and higher interest rates are really challenging for a lot of people,” she said. “That means that one of my government’s principal responsibilities, and one of my principal responsibilities, is not to pour fuel on the flames of The PBO’s forecasts do not attempt to account for potential new spending announcements in the 2023 budget.
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