Economists from Canada’s major banks have been combing through the Liberals’ budget and some have expressed cautious optimism that it’s an improvement compared to recent budgets, while noting that execution will be key in delivering results.
Prime Minister Mark Carney, a former banker at Goldman Sachs and previous head of the central banks of Canada and the United Kingdom, tabled his first budget on Nov. 4 after taking office in March.
His government says the current economic headwinds stemming from U.S. protectionism require massive expenditures to help grow the economy, which comes with a $78.3 billion deficit projected for this fiscal year. The Conservatives say they’re concerned about the high level of spending and the deficit, and argue that the government needs to remove taxes such as the industrial carbon levy to stimulate the economy….