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.

Just Posted

Three on ballot, two running for Union Bay Improvement District board

Voters will go to the polls to choose new board member on Saturday, Nov. 23

Cumberland waits for child care plan before deciding on Beacon

Village also wants to clarify funding requirements prior to any agreement

Comox Valley initiative collects items for those in need

Everybody Deserves A Smile (EDAS) is a ‘Kindness Care Package Project’ that… Continue reading

Campbell River to house regional composting facility

A new regional composting facility will be built at the Campbell River… Continue reading

Ecofish founder receives provincial honour

Award was given at Generate Conference earlier this month

VIDEO: B.C. couple creates three-storey ‘doggie mansion’ for their five pups

Group of seven, who Kylee Ryan has dubbed as the ‘wandering paws,’ have a neat setup in Jade City

MacKinnon powers Avs to 5-4 OT win over Canucks

Vancouver battled back late to pick up single point

Poole’s Land finale: Tofino’s legendary ‘hippie commune’ being dismantled

Series of land-use fines inspire owner Michael Poole to sell the roughly 20-acre property.

Port Alberni mom takes school district to court over Indigenous smudging, prayer in class

Candice Servatius, who is an evangelical Christian, is suing School District 70

Family of B.C. man killed in hit-and-run plead for tips, one year later

Cameron Kerr’s family says the driver and passengers tried to cover their tracks

Princeton couple pays for dream vacation with 840,000 grocery store points

It’s easy if you know what you are doing, they say

Chilliwack family’s dog missing after using online pet-sitting service

Frankie the pit bull bolted and hit by a car shortly after drop off through Rover.com

B.C. wildlife experts urge hunters to switch ammo to stop lead poisoning in birds

OWL, in Delta, is currently treating two eagles for lead poisoning

Most Read