Overview
- Finance Minister François-Philippe Champagne set April 28 for the spring economic update during Question Period on Tuesday.
- Prime Minister Mark Carney said the plan will include new supports for Canadians, and Canadian Press reported the document will account for a GST benefit boost and a federal fuel excise tax holiday through Labour Day.
- Economists expect the deficit path to look close to November’s projections, with a Consensus Economics survey averaging a $64.6‑billion shortfall for this year.
- Reporting links higher energy costs to conflict that has disrupted oil flows through the Strait of Hormuz, a factor officials say will shape the new forecast.
- The Liberals now hold a majority in the House of Commons, which could speed passage of any measures tied to the update.