Canadian Prime Minister Justin Trudeau's strategy to prioritize spending on...
TORONTO - Canadian Prime Minister Justin Trudeau’s strategy to prioritize spending on the middle class at the beginning of his four-year term will not keep growth humming ahead of a general election in October, some economists said.
In 2016, Trudeau made a tax cut that was aimed at the middle class and began a major increase in child benefits for families. At the same time, he raised levies on Canada’s wealthiest 1%. Trudeau has said that economic policy should be more concentrated on helping the middle classes and those striving to join it.
Three years later, Trudeau of the Liberal Party is lagging his Conservative Party rival Andrew Scheer in opinion polls and the outlook for growth has darkened considerably, also because of a global slowdown. “Potential growth is no higher, that’s the issue,” said Stephen Brown, senior Canada economist at Capital Economics. “The balance of the stimulus could have been tilted toward more private investment.”
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