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MNI BRIEF: Canada Says New Benefits Won't Fuel More Inflation

(MNI) Ottawa
(MNI)

Canadian Prime Minister Justin Trudeau announced new tax credits and subsidies for housing and dental care Tuesday as he faces a new political rival who, like many experts, warns that more deficit spending will fuel inflation.

Trudeau's announcement at a meeting of Liberal lawmakers before Parliament returns later this month shifts from months of suggesting such a package could make the situation worse. "We are confident that they will not contribute to increased inflation,” he said, without giving the plan's cost. “We are retaining fiscal firepower and at the same time ensuring those that need support won’t get left behind.”

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Canadian Prime Minister Justin Trudeau announced new tax credits and subsidies for housing and dental care Tuesday as he faces a new political rival who, like many experts, warns that more deficit spending will fuel inflation.

Trudeau's announcement at a meeting of Liberal lawmakers before Parliament returns later this month shifts from months of suggesting such a package could make the situation worse. "We are confident that they will not contribute to increased inflation,” he said, without giving the plan's cost. “We are retaining fiscal firepower and at the same time ensuring those that need support won’t get left behind.”

Keep reading...Show less