Poilievre pushes Freeland to present fall economic statement to give Canadians a look at the books

Conservative Leader Pierre Poilievre said Wednesday it's time for Finance Minister Chrystia Freeland to present a fall economic statement to reveal the state of the country's finances.

The economic statement, known in political circles as the FES, is a mini-budget of sorts typically tabled in November — it's only been presented in December three times in the last 20 years — that gives Canadians a look at the federal finances and is used by the government to introduce new spending measures halfway through the fiscal year.

Poilievre suggested the delay is because Freeland is expected to flow past her promised deficit target.

After years of outsized spending in the COVID-19 era, Freeland has repeatedly said the 2023-24 deficit will be "at or below $40.1 billion."

The Parliamentary Budget Officer (PBO) has said it will likely be more than that when the final numbers come in, despite Freeland's past assurances.

Freeland has also said the government will lower the debt-to-GDP ratio and keep it on a downward slope for the years to come — a commitment that could be challenged by new major spending commitments like much more money for defence, the border and a package of affordability measures.

"Justin Trudeau has completely lost control of our finances. Remember his minister said there would be a cap on the deficit of no more than $40 billion?" Poilievre told reporters Wednesday.

"Why won't the finance minister tell us the true number? What is she hiding? Is she hiding that Trudeau lost control of the deficit this year just like every year?" Poilievre said. He did not take questions from the media.

Poilievre said he'd give Freeland a "Christmas gift" and let her table the FES on Monday — a day that's been set aside for the Conservatives to push whatever they want in the Commons.

The government also hasn't released its public accounts — which is essentially Ottawa's annual report and a detailed look at what was spent in the last year. It is usually tabled in Parliament much earlier than December.

Freeland has been coy about when she will present a FES.

Repeatedly pressed by reporters Tuesday to say when the economic update is coming, Freeland would only say the government is "keen to deliver" one and they are "intent" on presenting one to the Commons.

"The only thing I'll add is Canada does have a strong fiscal position. We have the lowest debt and deficit in the G7," she said.

Freeland has blamed the Conservatives for filibustering Parliament and preventing the House of Commons from carrying out its normal business for the delayed tabling of the FES.