By Paul Vieira

OTTAWA-Canadian Prime Minister Justin Trudeau said Wednesday the government's fall economic update will contain new spending aimed at boosting economic growth.

"In it there will be initiatives to help Canadians during these difficult times, and investments in economic growth, across the country," Trudeau said during the daily question-period session in the legislature.

When that fall update emerges remains unclear, with Trudeau saying it would come "in due course." Finance Minister Chrystia Freeland has evaded questions for weeks about the release of the annual economic statement and a report outlining financial results for the past fiscal year. She said a Conservative Party-led filibuster in the legislature, related to a conflict-of-interest case at a government-run fund, is preventing her from delivering the economic news in the legislature.

Earlier Wednesday, the leader of Canada's Conservative Party, Pierre Poilievre, said he was willing to give up some of the party's allotted time in the legislature next week to Freeland for her fall economic update.

Economists await the results of the fall economic report so they can revise their outlooks for public finances and advise clients on the scope of government-debt issuance in the coming 12 months. Public-finance watchers and the country's budget watchdog believe the deficit for the fiscal year just ended, and the current 12-month period, is expected to be larger than what the Liberal government forecast, due to global economic developments and new policy measures.

"Why won't the finance minister tell us the true number? What's she hiding?" Poilievre told reporters ahead of the party's weekly caucus meeting. He claimed that Freeland and Trudeau have lost control over fiscal policy, and broken their promise on limiting the size of the annual budget deficit to 40 billion Canadian dollars, or the equivalent of $28.4 billion.

A spokeswoman for Freeland described Poilievre's offer as "ridiculous," adding: "If they want to be serious about supporting Canadians, they can open parliament for business." Generally, the fall statement is presented before December, although there are exceptions, such as during the pandemic, and in 2015 when there was a fall election.

"The government is not on track to meet its near-term fiscal guard rails owing to cost overruns despite economic growth above expectation," said Rebekah Young, an economist at Bank of Nova Scotia, in a report Wednesday. "This suggests revenue-raising measures are likely needed -- and fast."

Write to Paul Vieira at paul.vieira@wsj.com

(END) Dow Jones Newswires

12-04-24 1636ET