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

ARTS AROUND: Renew your Community Arts Council membership

Port Alberni gallery showcases two different painters

B.C. storm totals $37M in insured damages

The December storm wreaked havoc on B.C.’s south coast

EDITORIAL: Housing prices, balanced market a sign of confidence for Port Alberni

Port Alberni’s real estate market has quietly been breaking some records…

Alberni wrestlers start the new year on the right foot

Alberni wrestlers compete at Wild Cat Wrestling Tournament and Duke’s Cup Dual

BIZ BEAT: Port Alberni pet stores going to the dogs

Animal Ark and Bosley’s add dog washing stations

Trudeau says politicians shouldn’t prey on Canadians’ fears

The Prime Minister was speaking at a townhall in Ontario

Chiasson nets shootout winner as Oilers edge Canucks 3-2

Edmonton moves one point ahead of Vancouver

B.C. chief says they didn’t give up rights for gas pipeline to be built

Hereditary chief: no elected band council or Crown authority has jurisdiction over Wet’suwet’en land

Thieves steal thousands from 140 Coast Capital Savings members

Online fraud tactics included phising and ‘brute force’ in November and December

Condo rental bans may be on way out with B.C. empty home tax

Many exemptions to tax, but annual declarations required

UPDATE: B.C. boy, aunt missing for three days

The pair are missing from Kamloops

Daredevil changes game plan to jump broken White Rock pier

Brooke Colby tells council daredevil event would help boost waterfront business

Liberal bows out of byelection after singling out Jagmeet Singh’s race

Karen Wang says she made comments online that referenced Singh’s cultural background

Most Read