Budget meetings bring Federal Finance Minister to Toronto

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Trudeau’s Finance Minister was also in Toronto today. Bill Morneau is criss crossing the country speaking with different groups to get input on the Liberal’s first budget.

A former company executive himself, Morneau had pointed questions about how to stimulate innovation and growth. “Having run a business that was 0-10, and then 10-100, and then 100 plus, I can tell you that once we got to 400 million in revenue, it was easier to say we can afford 10 people to be working on something.”

But Marvin Ryder from the Degroote School of Business says this tour is about public relations, not decision-making. “These consultations are peculiar to say the least. People aren’t asking questions, they’re curious about how the Liberals will keep election promises and keep the deficit down below 10 billion a year.”

The cost of crude is at $30 a barrel and falling and Morneau’s last economic projection in November was based on $54 oil. The government says it will invest in infrastructure to boost the economy, maybe even speeding up the distribution of $60 billion earmarked for infrastructure.

Ryder says the Finance Minister would do well to release the budget as early as February.