Overview
- Finance Minister François-Philippe Champagne, who announced Tuesday in the House of Commons, scheduled the spring economic update for April 28.
- The plan will fold in recent pledges such as a GST benefit boost and a waiver of the federal fuel excise tax through Labour Day.
- Rising energy prices tied to war-related disruptions of oil flows near the Strait of Hormuz will factor into the short-term outlook.
- Economists see little change to the bottom line, with a Consensus Economics average deficit of $64.6 billion versus the fall budget’s $65.4-billion estimate.
- The announcement followed the Liberals securing a majority, which could speed the passage of any measures that flow from the update.