Canada cuts budget deficit forecast citing strong economy

The Canadian government on Tuesday cut its deficit forecast for the current fiscal year, citing higher tax revenues and less emergency aid spending, while earmarking new funds to fight the Omicron coronavirus variant.

"The fall economic statement is all about addressing the problem that it's in front of us today, but there is no real articulation of a longer term economic growth plan.

 There are still these fundamental economic challenges that the economy is facing, and unfortunately, we're not seeing a whole lot in here to address that. I noticed in particular, looking at the growth projections...we're eventually going to kind of slip back to the same levels of economic growth below 2 per cent that we were seeing before the pandemic. And so, what is the long term plan?"