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MNI INTERVIEW:Canada Budget Clashes With BOC Tightening-Beatty

(MNI) Ottawa
OTTAWA (MNI)

Former minister and Chamber of Commerce chief wants focus on investment over spending.

Canada's continued budget deficits clash with a central bank moving to raise interest rates and businesses will suffer as borrowing costs rise and inflation persists, former revenue minister and national chamber of commerce head Perrin Beatty told MNI.

The spending plan announced late Thursday was a "mixed bag" of various supports for business that provide some help bringing in skilled immigrants and growing small firms, while prioritizing increased spending at the wrong time, he said.

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Canada's continued budget deficits clash with a central bank moving to raise interest rates and businesses will suffer as borrowing costs rise and inflation persists, former revenue minister and national chamber of commerce head Perrin Beatty told MNI.

The spending plan announced late Thursday was a "mixed bag" of various supports for business that provide some help bringing in skilled immigrants and growing small firms, while prioritizing increased spending at the wrong time, he said.

Keep reading...Show less