The province’s finance minister says her department has done what it can to mitigate the economic turmoil created by U.S. President Donald Trump and the stock market freefall in the wake of his sweeping retaliatory tariffs.
The provincial budget will be delivered tomorrow and Siobhan Coady says they’ve come up with a fiscal plan by taking in as much information and analysis as possible in what is turning out to be a very unpredictable time in history.
“All we can say is we’ve captured in a broad sense the impacts of tariffs and the changing fortunes of time may have on our economic forecast. But it is in broad strokes.”
Coady acknowledges that these are tumultuous times and “no-one can predict where this will go.” She says the government has set aside $200 million in interim supply in contingency, in preparation for the possible impacts of a downturn in the global economy.
The most important thing says Coady in challenging times is to “be calm, be strategic.” She’s been speaking with her federal and provincial counterparts on an ongoing basis “to try to have as much information on the impacts as we can possibly have.”
The finance minister will present tomorrow’s budget at 2 p.m. at Confederation Building. VOCM News will carry live coverage at that time.