Freeland to table Liberals’ fall economic statement Nov. 21

Finance Minister Chrystia Freeland is expected to table the federal government’s fall economic statement on Nov. 21.

The mini-budget is set to offer an update on federal finances, as well as new measures that reflect the government’s priorities.

Freeland has promised that the fall economic statement will focus on housing and affordability, two issues dominating federal politics that are top-of-mind for Canadians.

The Liberals have already announced some measures pertaining to housing over the last couple of months, but all eyes will be on any additional steps they take to help ease the housing shortage.

The federal government is also facing fiscal pressures from a slowing economy and scrutiny for excessive government spending, and Freeland has promised to prioritize fiscal responsibility.

The latest fiscal monitor report from the Finance Department said the federal government posted a $4.3-billion deficit between April and August.

The House of Commons doesn’t sit next week but MPs return Nov. 20 with a busy agenda in the weeks leading into the holidays.

In August, the Finance Department released draft legislation for measures from the 2023 federal budget including the alternative minimum tax, intergenerational business transfers and the general anti-avoidance rule.

The consultation closed in September and the government has said it intends to implement the legislation this fall. Tax planners are awaiting clarity as several changes are expected to take effect next year.

Staff, with files from The Canadian Press

The Canadian Press is a national news agency headquartered in Toronto and founded in 1917.