ontario news watch

Freeland says feds will strike ‘challenging’ balance in fall budget update

OTTAWA — Finance Minister Chrystia Freeland says the government’s fall economic statement will focus on housing and affordability within a fiscally responsible framework.

In an news conference today, Freeland acknowledges it will be a challenging balance to strike, but says the Liberals are committed to it. 

The federal government’s financial statements were published today, revealing the deficit for the 2022-23 fiscal year came in at $35.3 billion. 

That’s $7.7 billion lower than projected in the spring budget.

The federal government is facing pressure to rein in spending after the COVID-19 pandemic, particularly as the economy slows. 

However, it is also facing considerable pressure to address the national housing crisis, as polling shows support for the governing Liberals is taking a hit.

This report by The Canadian Press was first published Oct. 24, 2023. 

The Canadian Press