Ottawa to unveil economic update detailing deficit, new border security package

By Kyle Duggan, The Canadian Press on December 16, 2024.

Minister of Finance and Deputy Prime Minister Chrystia Freeland speaks at a press conference in Ottawa on November 19, 2024. THE CANADIAN PRESS/ Patrick Doyle

OTTAWA – The Liberal government in Ottawa is set to unveil its fall economic update today, its first spending package since Donald Trump won the November presidential election.

Ottawa is expected to blow past its deficit target, but Finance Minister Chrystia Freeland has said debt-to-GDP is still in decline.

The update is expected to include measures to spur business investment in Canada to respond to Trump’s “America first” economic agenda.

It will also detail the government’s plan for ratcheting up security at the border, anticipated to include money for helicopters and drones.

That comes on the heels of Trump’s threats of slapping a 25 per cent tariff on goods from Canada and Mexico unless both countries clamp down on illegal drugs and migrants coming into the U.S.

Last week, RCMP Commissioner Mike Duheme said he was surprised to see some news reports saying there could be $1 billion put toward beefing up the border, but would not reveal how much he’s asked for.

This report by The Canadian Press was first published Dec. 16, 2024.