Finance Minister Chrystia Freeland has signaled the federal government faces “fiscal constraints” and can’t “pour fuel on the fire of inflation.”
That “any new spending has to be targeted and focused on building an economy that is more sustainable and more prosperous.”
And that “we’re keeping our powder dry” for more economic uncertainty.
But Freeland also said Canada has a “once in a generation” moment to build a 21st-century green economy (including more to counter the U.S. Inflation Reduction Act) and improve health care.
And the government has also signaled Canadians should expect affordability measures.
“Inflation is still too high,” Freeland said on March 8. “And interest rates are really high and have gone up extremely fast. These are real challenges for Canadians. I hear about them from people every single day.”
Freeland has since said to expect “targeted” cost-of-living announcements in the budget.
