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Canadians to get an update on the state of the country's finances

(iStock Photo)

OTTAWA (NEWS 1130) – The Trudeau government is set to release its fall economic update later today, and business competition will be a key theme.

As the feds prepare to release this fiscal document, Prime Minister Justin Trudeau says it will build on his plan to help the middle class and support businesses.

“We’ve been working hard to grow the economy over the past few years. We’ve been showing real results,” he said.

But the highlight will likely be a blueprint to help Canadian businesses facing competitive challenges, thanks to corporate tax cuts in the U.S.

“We’ll be focused on things like competitiveness, and the focus on drawing the benefit from the great trade deals we’ve been signing and moving forward on over the past years,” Trudeau said.

The government is not expected to match them, but instead focus on targeted efforts to boost investment by enticing companies to choose Canada over the United States.

When it comes to the government books, we’ll see if the feds are still on track to hit their deficit projection of $18 billion this fiscal year, although we’re not expecting a timeline to get back to balance.

This fiscal update is expected to help the Liberals set the stage for the spring budget, which will be a big piece of the election campaign in 2019.