Trudeau to pitch growing Canadian economy at Davos meetings

SAINT ANDREWS, N.B. - Prime Minister Justin Trudeau will trade the snowy hillsides of a seaside New Brunswick town this morning for the snowcapped Alps of Switzerland, with the national and global economy following him across the Atlantic Ocean.

See Full Article

Trudeau will fly Tuesday to Davos, Switzerland and the World Economic Forum that brings together the world's most powerful and influential political and business leaders, celebrities and activists.

Trudeau will have a chance to give a keynote address on Wednesday, talk about gender parity in his cabinet alongside Melinda Gates and sell his plans for growing the Canadian economy.

The economic and financial realities of everyday Canadians will still hit him: the parliamentary budget watchdog will deliver a report Tuesday morning about the level of household debt in the country, and then the Bank of Canada will deliver a much-anticipated interest rate announcement Wednesday before markets open and likely minutes before Trudeau is to give his first speech in Davos.

Trudeau and his cabinet ministers were dogged by questions and pressure from the opposition parties during a three-day retreat in New Brunswick to respond to falling commodity prices and a declining loonie.

Trudeau would only say Monday that his government would put forward a budget that is "the right one for Canadians."

At a community dinner Monday night where 300-plus people crammed into a rec centre to have some spaghetti and hear Trudeau speak, the prime minister touched on why cabinet was meeting outside Ottawa - "to talk about the challenges that we have before us," he said - before trying to give it a positive spin by talking about "tremendous opportunities."

"Canada is an incredible country whose greatest strength we all know are its people," he said.

"We are hopeful, optimistic, resilient, forward-looking, hard-working, and nowhere is that clearer than right here in New Brunswick and it's such a pleasure to be working with you and to be surrounded by all of you as we map out a plan to create growth for the middle class, to offer a brighter future to Canadians, and to build, once again, an extraordinary country that we can all be proud of as we celebrate into the coming years."


Latest Economic News

  • Relaxed rules for wine sales take effect at Ont. grocery stores

    Economic CTV News
    BRAMPTON, Ont. -- Wine is now available on the shelves of select grocery stores across Ontario. Eventually, the Liberal government says beer and cider will be available in up to 450 grocery stores, and 300 of those will also be selling wine. Source
  • Federal deficit in August up $400M compared to same month last year

    Economic CTV News
    OTTAWA -- The federal government ran a deficit of $2.7 billion in August compared with a deficit of $2.3 billion in the same month last year. According to the Finance Department's latest fiscal monitor, revenue increased by $700 million or 3.2 per cent to nearly $22.9 billion, due to increases in corporate income tax revenue, excise taxes and duties and other revenues. Source
  • U.K. Uber drivers win case to get paid vacation, minimum wage

    Economic CTV News
    LONDON -- Uber drivers in Britain should get paid vacation days and be guaranteed a minimum wage, a tribunal said Friday, in a ruling that tests the limits of the so-called "gig economy," in which companies rely on individual to work as self-employed contractors without safety nets. Source
  • Foreign buyers greatly outnumbered by domestic investors in Toronto's condo market

    Economic CBC News
    Concerns about foreign investors snapping up real estate have dominated headlines recently, but a new report suggests domestic investors outnumber foreign buyers in the Greater Toronto Area's new condo market ten-to-one. Toronto condo research firm Urbanation says foreign buyers, whose primary residence is outside of Canada, made up only five per cent of the sales of new units in condo buildings that were under development between July and September. Source
  • Imperial Oil Q3 profit edges above $1 billion

    Economic CTV News
    CALGARY -- Imperial Oil says the sale of its gas stations helped the company achieve a $1-billion quarterly profit for the first time in more than two years. The Calgary-based oil and gas company recorded a $716-million gain, worth 84 cents per share, from the sale of its gas stations. Source
  • Johnson & Johnson to appeal $70M verdict alleging talcum powder link to ovarian cancer

    Economic CBC News
    Johnson & Johnson has faced multiple lawsuits related to allegations that its baby powder has a link to ovarian cancer — something the company strongly denies. (Matt Rourke/Associated Press) A St. Source
  • U.S. economy grew at 2.9 per cent rate in third quarter

    Economic CTV News
    WASHINGTON -- The U.S. economy grew at a 2.9 per cent rate in the July-September quarter, the strongest pace in two years, as the battered export sector rebounded and businesses finally began restocking their shelves at a faster clip. Source
  • Mortgage rule changes were 'the right thing to do,' Morneau says

    Economic CBC News
    Finance Minister Bill Morneau says recent changes to mortgage rules will keep Canada's economy secure and protect Canadians in the long run. In a speech to the Toronto Region Board of Trade, the finance minister defended the steps the government has taken since his swearing in last November. Source
  • Norbord and Louisiana-Pacific Corp. to exhange ownership Quebec of mills

    Economic CTV News
    TORONTO -- Norbord Inc. (TSX:OSB) and Louisiana-Pacific Corp. have agreed to exchange ownership of two wood panel mills in Quebec. Financial terms weren't disclosed. Louisiana-Pacific's mill in Chambord, Que., is bigger than Norbord's oriented strand board mill in Val-d'Ore, Que. Source
  • Norbord and Louisiana-Pacific Corp. to exchange ownership Quebec of mills

    Economic CTV News
    TORONTO -- Norbord Inc. (TSX:OSB) and Louisiana-Pacific Corp. have agreed to exchange ownership of two wood panel mills in Quebec. Financial terms weren't disclosed. Louisiana-Pacific's mill in Chambord, Que., is bigger than Norbord's oriented strand board mill in Val-d'Or, Que. Source