这world has come to know贾斯汀特鲁多那加拿大’s new prime minister, as a man who snuggles with panda cubs and practices yoga on his desk when he’s not pushing his center-left agenda. Now the financial world is meeting the rookie politician who might be considered Trudeau’s straight man: Finance Minister Bill Morneau.
Morneau，53，最近访问了纽约，伦敦和巴黎，传播了加拿大新刺激计划的一词。在3月30日的加拿大午餐会协会，前商业主管告诉人群，为长期投入增长的人群是“我们可以做的单一最好的事情，以便加拿大投资者目的地。”他补充说，确保经济充满活力，竞争各种产业将抵消该国在能源部门的大规模损失。
担任自由党,特鲁多赢得最后的歧视l’s election partly by pledging to spend big to boost the middle class. Although opponents promised balanced budgets, he said his government would run a deficit of C$10 billion ($7.6 billion) in its first year to pay for things like a more generous child benefit plan, which gives families a tax-free allowance tied to income, and job creation measures. When Morneau released his first budget, on March 22, the deficit had grown to C$29.4 billion, or 1.5 percent of gross domestic product, for 2016 and C$29 billion for 2017, with smaller shortfalls to follow.
渥太华将在未来十年内花费1200亿美元的基础设施，从公共交通，水，住房和废物管理项目开始。他概述的其他优先事项：企业家和学术研究人员可以混合，大学实验室和研究设施和绿色技术的所谓创新中心。
Phase 2 of the plan, to be released next year, will include ambitious longer-term infrastructure investments, Morneau told the New York audience. In addition, the government will be “seeking ways to amplify the benefits of those investments by working with provinces and municipalities, but also by creating opportunities for institutional investors to come,” he added.
Morneau, who became a member of parliament last year after serving as executive chair and CEO of Morneau Shepell, a human resources services firm founded by his father that he helped to grow into Canada’s largest pension administrator, said that his party sees the budget as a blueprint for other economies confronting sluggish growth. Studies consistently show that every $1 spent on infrastructure leads to more than $1 in economic activity, he asserted.
根据党的预测，自由主义计划将创建100,000个工作岗位。Morneau认为，投资加拿大向加拿大转向加拿大转向较低碳经济的技术创新应为加拿大公司开辟新的全球市场。
加拿大is in a unique position to spend because it has the lowest debt-to–GDP ratio among the Group of Seven nations, he noted. Now 31 percent, that number is expected to edge up in the short term but return to roughly its current level in five years.
Morneau, a trim runner who holds a master’s degree in economics from the London School of Economics and an MBA from France’s INSEAD, is an unknown quantity to his international counterparts and foreign investors, but at home he’s regarded as a shrewd businessman with a social conscience.
After taking control of Toronto-based Morneau Shepell in 1990, he led a series of acquisitions that pushed the firm’s annual revenue from C$20 million to C$500 million. Morneau’s public service record includes a stint as chair of Covenant House Toronto, a group that supports homeless youth, and spearheading a corporate partnership with the United Nations to build a girls’ high school in Kenya’s Kakuma refugee camp.
卡尔加里大学的公共政策教授Jack Mintz表示，他欢迎Horneau的基础设施支出。但其他新措施 - 比如将退休年龄降低到65人，从67岁到65岁，以前的保守政府扭转了徒步旅行 - 将喂养一个人口统计的“债务炸弹”，梅斯兹恐惧。
“我担心投资者可以看看加拿大并决定它回到20世纪70年代，”他告诉亚博赞助欧冠那referring to the period when Justin Trudeau’s father, Pierre, was in power and ran large deficits.
这海湾街的反应那the heart of Toronto’s financial district, suggests that investors don’t regard the spending agenda as particularly risky. Since the budget was released,长期加拿大政府债券的收益率下降稍微，评级机构没有任何变化。惠誉评级表示，新债务可能会限制政府应对经济休克的能力，但还指出，预期赤字是预期的，他们补充了货币政策，Globe and Mail报道。
渥太华的智商在加拿大会议委员会的副主任经济学家Matthew Stewart表示，Moreau的计划是可持续的。他认为，这不是一个“反紧缩预算”，因为有些人被称为它。
Canadian federal government spending relative to GDP will rise by less than 1 percentage point this year, to 14.9 percent,根据加拿大皇家银行的说法而且，第一年赤字基于2016年的年度GDP增长率为1％，低于私营部门经济学家预测的1.4％。“他们给自己做得更好的很多空间，”斯图尔特说。
现在有更多的空间，谢谢1月的GDP增长0.6％那which共识投影增加了一倍。BMO金融集团和多伦多统治银行调整了2016年的预测，分别为GDP扩张，分别为1.8％和1.9％。
像那些像卫生部的数字一样，是一个坚实的基础。