Post-election update
Who will form the new cabinet?
With Trudeau securing a minority government and O’Toole winning the popular vote, the Liberal government is expected to continue in a similar policy direction; with the NDP likely providing support when needed. While investor confidence is essential for businesses, a balanced budget is not an immediate priority. The consensus by all parties is to increase fiscal spending policy, which will take the deficit on a similar path to that of Budget 2021. The extra spending is not expected to create growth, but will lead to increased short-term inflation.
Looking ahead, there are a number of key events we are monitoring. First, the Prime Minister will need to announce his new cabinet, likely in early October. Of prime interest is who will replace McKenna as the new Infrastructure Minister as well as key related posts of Finance, Treasury Board and Public Services and Procurement. Following the cabinet announcement, Trudeau will need to set a date for his Speech from the Throne and for the return of Parliament. It is still unclear when this would take place, but it is expected to be much later in October, possibly in early November.
More than ever, Hill Day will be an essential component of our industry advocacy efforts. On November 30, CCA members will educate new and returning parliamentarians on the value of our industry in reviving and enabling a growth economy. They will add their voice to reinforce the industry’s priorities of increasing infrastructure investment, working with industry to build the workforce of the future, and refreshing the government’s approach to improve fair and competitive procurement.
Questions?
Louis-Philippe Champagne
Director, Government Relations and Policy
Canadian Construction Association
LPChampagne@CCA-ACC.com