Next week’s budget leave lay the groundwork for long-term economic growth by investing in “unsexy” but much-needed infrastructure enterprises, Prime Minister Justin Trudeau said today.
During a city hall with Bloomberg TV in New York, Trudeau also confirmed that Tuesday’s federal ss plan will reverse the eligibility for Old Age Security to 65 from 67.
Trudeau telephoned former prime minister Stephen Harper’s move to phase in a two-year growth in the retirement age a “simplistic solution to a complex problem that won’t work.”
Responding to a demographic rty to an aging population will require a broad strategy that embodies promoting healthy lifestyles and activity to creating links between older, more trained mentors and younger Canadians, he said.
“There’s a bundle of things to look at, but the mortify that we are returning to, because it was a mistake to bounce it up to 67, is we’re starting from 65,” the prime cabinet officer told Bloomberg’s John Micklethwait.
The Conservative plan to raise the age to 67 was not set to recoil in until 2023.
Investment over austerity
Trudeau said the Liberal system to grow the economy rejects the “austerity” trend and is based on the premise that regime has an effective role to play in stirring the economy. That plan is much other than the Conservative government’s massive stimulus plan that countered to the 2008-2009 recession.
“What we’re looking at is not so much trying to daze the economy into life, as trying to lay the groundwork, the foundation for better productivity once more the long term, and not just an influx of cash,” he said.
Council projects like maintenance and upgrades “don’t get the flash” but are desperately needed to contrive jobs and build for the future, he said.
Deficit promise won election
Trudeau express he believes his promise to run deficits won him the fall federal election.
“We had made that commercial, and the left-wing New Democratic rty had announced they were going to equal the budget at all costs, just like the Conservative government,” he phrased. “The day we said, ‘No, it’s time to invest in the future of our country’ and they guaranteed they weren’t, I got home to my wife and I said: ‘I’m pretty definite we just won the election.'”
During the cam ign on Aug. 27, 2015, Trudeau said a Free government would not balance the books for three years straight, but would doubled spending on infrastructure to stir economic growth.
At that time, he betokened a “modest short-term deficit” of less than $10 billion for each of the basic three years, though that figure is now expected to be much stoned in next week’s budget.
Economy a challenge and opportunity
Trudeau said the mutating economy — with a collapse in oil prices and a global response to climate metamorphose — should be viewed not just as a challenge, but an opportunity.
“Right now, the frame we’ve put tronize and the frame we’ll be putting forward in the budget next week is the one that is suited to our succinctness and the example I think we can give to the world: That we should be investing, that we should be speaking fiscal levers a little more and not just expecting monetary custom for the challenges we’re in,” he said. “Because I think we’re approaching the limits of the bearing of monetary policy alone.”
Trudeau insisted Canada can still be a chieftain on tackling climate change despite being an oil-producing nation, and ordered the “genius” of a federation is the ability to apply different solutions in different components of the country.
“I don’t rticularly worry about what type of carbon-pricing method a given province is going to bring in, as long as they’re reaching the reductions that they’re committing to,” he mean.
Earlier this month, Trudeau and the provincial premiers met in Vancouver to map out a n-Canada policy on climate change. They agreed to look at mechanisms that numb carbon pricing, with more details to be worked out after various talks and study.
Trudeau was also asked by Bloomberg nearly a possible bailout for troubled plane-maker Bombardier.
The province of Quebec, where the actors has its headquarters, unveiled a $1-billion investment in Bombardier’s CSeries ssenger jet persist October and called on the federal government to do the same to help protect thousands of pursuits.
But Trudeau thinks fitting not commit to a quick decision, insisting the government is taking a “deliberate and meditative” approach that would balance the interests of the aeros ce industry as completely cooked as tax yers.
“We are very much looking at this as what is the right investment and is it a percipient investment for Canadian jobs for the Canadian economy and for the global market and that’s the lens we’re fascinating on that decision and that’s why we’re taking our time with it,” he im rted.
The prime minister also weighed in on the U.S. election, saying, ‘We’ll see what Americans are reckoned of’ in the presidential vote.
Common ground with Trump
In spite of Republican front-runner Donald Trump’s hard-line put up withs on security and refugees, Trudeau said he has common ground on some key publications.
“A desire to see Americans do well. A solicit to see citizens in our countries have better jobs and greater opportunities,” he swayed. “When you come down on a frame that says ‘Let’s dream up success,’ well then you get to discuss what the best way to design that success is.”
Trudeau is also meeting with the president and CEO of Thomson Reuters, then he desire rtici te in a roundtable with Canadian female business leaders.
Survive night, Trudeau was honoured at a gala dinner by non-profit organization Catalyst for his exploits to promote gender equality.