What matters to business in Trudeau’s budget

The federal government’s economic outlook is based on the forecasts of economists at 13 financial institutions and research outfits. The average of their forecasts sees economic growth of 3.9 per cent in 2022 and 3.1 per cent in 2023, and a jobless rate of about 5.5 per cent over the next two years, which would be historically low. Finance supplemented those estimates with a scenario analysis of what could happen if the war in Ukraine gets worse, and what might happen if Russia were to pull back. The former would result in growth of merely 0.4 per cent in 2023, while a better-than-expected outcome would see growth of four per cent next year. Read More