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Morneau defends deficit spending plans saying fiscal update coming before the year-end

Finance Minister Bill Morneau said the federal Liberal government will give a budget update before the new year.

OTTAWA — Canada’s new finance minister doesn’t dispute the economy is facing increasing threats to growth, but Bill Morneau did not indicate he was backing down from the Liberal pledge to spend billions of dollars on infrastructure projects before rebalancing the budget.

During the Oct. 19 election campaign, “we were — and continue to be — concerned with the state of the economy,” Morneau said Tuesday during his first news conference since being chosen by Prime Minister Justin Trudeau for the No.2 cabinet job.

“We need to find a way to enhance growth in Canada,” he said.

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