OTTAWA — Finance Minister Bill Morneau says the government will provide an update on federal finances before Christmas.
Morneau is introducing legislation today to provide a tax break for anyone earning under $147,000 a year.
But he also says the fall report on Ottawa’s fiscal status come within the next two weeks.
Over the weekend, the Conservatives called on Morneau to provide a fiscal update immediately as economic concerns mount following a poor jobs report late last week.
The tax cut fulfills a Liberal election promise to make the first $15,000 of income tax-free for most Canadians.
Morneau says the change will be implemented over the next four years and will save the average Canadian family $585 a year.