December 15, 2021

The Fall Economic Statement was released in Ottawa yesterday by Deputy Prime Minister and Finance Minister Chrystia Freeland.

The video of her presentation and a .pdf of the full update can be accessed through this page on the government of Canada website: https://www.budget.gc.ca/efu-meb/2021/home-accueil-en.html

As I have done in the past, I am forwarding to you an analysis from one of my clients, Sussex Strategy Group, an experienced and highly respected government relations firm that offers strategic and consulting services.

I find their reports and analyses informative and insightful, and I hope you will also.

As always, please contact me with any employment questions you may have or for assistance working through your staffing matters.

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Federal Government Unveils Fall Economic Statement

Deputy Prime Minister and Finance Minister Chrystia Freeland has released the federal government’s Fall Economic Statement (FES) by video-link. Simply titled Economic and Fiscal Update 2021, the plan is the first major economic update since Budget 2021 and since the Liberals were re-elected in September.

While this year’s FES contains far fewer new spending measures than has been typical under this Liberal government, there are still a number of new funding commitments outlined in the document.

Overall, the FES outlines almost $70 billion in new spending, $30 billion of which is aimed at pandemic management. However, economic trends have improved the fiscal outlook by $126.9 billion over the same period, leaving Canada further ahead than the picture presented in Budget 2021.

Missing from the document, however, is the suite of allocations that would be required to implement the $78 billion in commitments made in the Liberal Election Platform released this past summer. Those eager to see those commitments implemented will have to wait for Budget 2022 or perhaps beyond, depending on the state of the economy and the omicron variant.

Read the full Sussex Strategies update