As he departs, Joe Oliver says he hopes finance successor will curb deficits

Outgoing finance minister Joe Oliver says he hopes his Liberal successor won't allow the party's promised deficits to spiral out of control.

OTTAWA — Outgoing finance minister Joe Oliver says he hopes his Liberal successor won’t allow the party’s promised deficits to spiral out of control.

Oliver’s 19-month term as finance minister ends Wednesday when prime minister-designate Justin Trudeau names the person who will take over the portfolio.

The former Conservative MP tells The Canadian Press that his final day as finance minister was quiet and that he spent it writing reference letters for his staff.

The incoming Liberals won last month’s election after pledging to run deficits of up to $10 billion in each of the next three years so they could boost infrastructure spending as a way to stimulate the economy.

Oliver says he’s proud of the Conservative government’s balanced-budget approach and he hopes his replacement makes sure the Liberal shortfalls aren’t deeper than promised.

He says the defeat is bittersweet but notes the Conservative campaign could not overcome voters’ powerful desire for change.

Oliver is the first sitting federal finance minister to go down in defeat since 1993.

Just Posted

Good-bye ice and snow, hello potholes on Red Deer roads

City workers will be spending 20 hours a day on various road repairs

Red Deer woman wins $1 million in lottery

A Red Deer woman spent $5 on a lottery ticket and became… Continue reading

Taboo Naughty but Nice Sex Show in Red Deer this weekend

The event is at Westerner Park Friday to Sunday

Blackfalds closes road because of spring thaw

Broadway Avenue from Aspen Lakes Boulevard to Township Road 40-0 to be closed on Monday

WATCH: Fashion show highlights Cree designers

The fashion show was part of a Samson Cree Nation conference on MMIW

Puddle splashing: A rite of spring

Is there anything more fun than driving through water-filled potholes in the… Continue reading

Special evaluations can help seniors cope with cancer care

Before she could start breast cancer treatment, Nancy Simpson had to walk… Continue reading

Home renovator Mike Holmes oversees reno for paralyzed Humboldt Broncos player

AIRDRIE, Alta. — One of Canada’s most recognizable home renovators has acted… Continue reading

The endless war against invasive species

Group looks to protect native ecological environments in Alberta

WATCH: Fashion show highlights Cree designers

The fashion show was part of a Samson Cree Nation conference on MMIW

Flyers, Blackhawks, Sabres and Lightning to Europe in ‘19-20

Jakub Voracek was psyched at the mere suggestion the Philadelphia Flyers might… Continue reading

Danish receiver Nielsen looking to defy the odds again, this time at CFL combine

TORONTO — He’s coming to the CFL’s national combine as a definite… Continue reading

Mom with kids on YouTube channel suspected of child abuse

MARICOPA, Ariz. — A woman who operated a popular YouTube channel featuring… Continue reading

Most Read