Prime Minister Justin Trudeau rises during question period in the House of Commons on Parliament Hill in Ottawa on Wednesday, Dec.12, 2018. THE CANADIAN PRESS/Adrian Wyld

Canada’s robust credit rating should calm unease about federal deficits: Trudeau

Trudeau says Canada’s long-running triple-A rating means experts have confidence in his government’s approach to the economy

Prime Minister Justin Trudeau recommends any Canadians worried about his government’s deficits to look at the country’s strong standing with international credit-rating agencies for reassurance.

Speaking to The Canadian Press in a wide-ranging interview, Trudeau says Canada’s triple-A rating with agencies like Moody’s and Standard & Poor’s should provide comfort to taxpayers who fear his government has been accumulating too much debt.

Trudeau says Canada’s long-running triple-A rating means experts have confidence in his government’s approach to the economy — even though many critics, and especially the Conservatives, warn Ottawa should be curbing deficit-spending in a stronger-than-expected economy.

Asked about the next inevitable downturn or recession, Trudeau argues his government’s moves to boost immigration and to make investments in areas like skills training, public transit and a lower-carbon economy have made Canada more resilient against future shocks.

The Trudeau Liberals were elected in 2015 on a pledge to run modest annual shortfalls of no more than $10 billion and to balance the books by 2019. Instead, they have posted yearly deficits almost double that size and no longer have a timetable to return to balance.

After taking office, the Trudeau government shifted its focus to keeping the government’s debt burden on a downward track — and Trudeau says Ottawa will stick to that benchmark in the future.

Read more: Fed report to show $19-billion deficit in 2017-18

Read more: Federal fall update expected to offer more support for struggling news industry

The Canadian Press

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Local cat rescue organization hit by camera theft

“Someone is taking from an organization trying to help cats who are surviving in the wild.”

Fundraising conference, concert on deck for Comox Valley Transition Society

Women Who Inspire Conference and Concert at Filberg Centre March 1

Changes recommended for four Comox Valley schools to ease capacity

Possible measures include cross-boundary transfer closures, modular buildings

North Island College students serving up food and wine at 40 Knots

North Island College tourism and hospitality and culinary students teaming up with… Continue reading

MARS Wildlife Rescue gets help from local children

The new Mountainaire Avian Rescue Society (MARS) visitor centre in Merville has… Continue reading

Pipeline dispute: Tories put no-confidence motion on House of Commons agenda

Conservatives say they have no confidence in the Trudeau government to end the rail blockades

Comox Valley Beefs & Bouquets for week of Feb. 18

More beefs to the tip-expecting server; a bouquet to BC Transit

Galchenyuk nets shootout winner as Wild edge Canucks 4-3

Vancouver tied with Calgary for second spot in NHL’s Pacific Division

Original Victoria Clipper vessel sails one last time

Vessel sold to buyers in Gabon, Central Africa

B.C.’s soda drink tax will help kids lose weight, improve health, says doctor

Dr. Tom Warshawski says studies show sugary drinks contribute to obesity

A&W employees in Ladysmith get all-inclusive vacation for 10 years of service

Kelly Frenchy, Katherine Aleck, and Muriel Jack are headed on all-expenses-paid vacations

B.C. mom’s complaint about ‘R word’ in children’s ministry email sparks review

In 2020, the ‘R’ word shouldn’t be used, Sue Robins says

Two new hybrid BC Ferries ships christened with new names in Victoria ceremony

Island Aurora and Island Discovery will service Gulf Island and North Island routes

B.C., federal ministers plead for meeting Wet’suwet’en dissidents

Scott Fraser, Carolyn Bennett says they can be in Smithers Thursday

Most Read