Sinking oil prices, low dollar, growing deficit put heat on Finance Minister Morneau

In absence of the pre-budget hearings, lobbyists are encouraging clients to make submissions directly to the Finance Department.

Finance Minister Bill Morneau said last week, ‘We knew when we were campaigning we were facing a slow-growth environment.’ The government’s update of economic and fiscal forecast projects a deficit of $3-billion for this fiscal year, $3.9-billion in 2016-17, $2.4-billion in 2017-18, $1.4-billion in 2018-19, and a $1.7-billion surplus by 2019-20. The Hill Times photograph by Jake Wright

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BY RACHEL AIELLO

January 18, 2016

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