OTTAWA — Finance Minister Bill Morneau says he will deliver a fall economic update Tuesday to document the recent strong growth in the Canadian economy, but did not say whether it will include a plan to eliminate the federal deficit. Morneau says the update will “affirm” plans to reverse course and cut the small business tax rate to nine per cent by 2019. He says the update will also end tax advantages for “the wealthy few” — a plan that has landed the finance minister in a world of controversy. Morneau and Prime Minister Justin Trudeau have subsequently tweaked the tax measures this week amid outrage from small business owners, doctors, farmers, fishers and even some Liberal backbench MPs. In recent months, Morneau has tied Canada’s strong economic performance to his government’s strategy to run deficits, which helped it finance measures such as lower income-tax rates for middle earners and enhanced child benefits.

Source: National Post October 19, 2017 19:18 UTC