Finance Minister Chrystia Freeland on Monday appealed to MPs to stop questioning the Trudeau Liberals’ debt management credibility, per Blacklock’s Reporter. Freeland is expected to update budget figures on Monday — one day before parliament’s five-week Christmas break. “I think it is very important not to cast any doubt on Canada’s financial credibility,” Freeland testified at the Commons Industry Committee.“I want to take this opportunity to be very clear. Canada’s fiscal position is strong and sustainable.”Freeland’s comments followed a Commons question by Conservative MP Adam Chambers that disclosure of finances “is going to shred all the credibility she has left.” The LIberals have admitted to repeatedly missing deficit targets by billions.Freeland on April 16 put this year’s deficit at $39.8 billion. The actual figure is closer to $46.4 billion, said an October 17 Budget Office economic and fiscal outlook report for October 2024.Conservative MP Rick Perkins on Monday challenged Freeland to update deficit figures. “When you delivered the budget you said it would not be above $40 billion and there are guard rails but we know the Parliamentary Budget Officer has said otherwise, that you’re already through that,” he said.“What’s the deficit this year?” “There will be full transparency for all Canadians and all MPs about Canada’s financial position,” replied Freeland.“Is the deficit going to stay at the $40 billion?” asked Perkins. “I am very glad, Mr. Perkins, to hear you quoting the Parliamentary Budget Office,” replied Freeland.“But as the minister of finance you must know what the deficit is,” said Perkins.“Canada’s public finances are sustainable,” replied Freeland.“Why should you remain the chief financial officer of Canada since you can’t seem to hit a single target you set?” asked Perkins. “I strongly disagree,” replied Freeland.Freeland in her April 16 budget Fairness For Every Generation promised to control spending.“It would be irresponsible and unfair to pass more debt to the next generation,” she said.“We absolutely believe it is important for the federal government, or any government, to be careful in the way we spend money,” said Freeland.“It is not our money, it is the money of Canadians, and they quite rightly expect us to be really thoughtful.”MPs in the Commons noted cabinet has yet to publish its Public Accounts, a record of spending for the last budget year. “Why don’t they just stop the economic arson?” asked MP Jasraj Singh Hallan.“Stop the tax hikes. Stop the inflationary deficits. Stop adding to the debt.”
