Sarnia-Lambton-Bkejwanong Liberal MP Marilyn Gladu (Submitted photo)Sarnia-Lambton-Bkejwanong Liberal MP Marilyn Gladu (Submitted photo)
Sarnia

New Liberal MP Marilyn Gladu praises spring economic update

Sarnia-Lambton-Bkejwanong's recently turned Liberal Member of Parliament says the spring economic statement suggests good things for the riding.

The Carney government released its fiscal update on Tuesday.

Marilyn Gladu touted the apprenticeship trades initiative.

"Which will give $10,000 per apprentice to small and medium-sized businesses. So we're trying to grow trades in order to build all these nation-building projects, and of course, we've got a world-class trades force here in Sarnia," Gladu said.

"The focus of the government on energy projects, LNG projects, carbon capture, nuclear, defence, these are all areas where we could create jobs locally and see the benefit from this plan to build 'Canada Strong for All,'" Gladu continued.

The local MP was also pleased to see a lower-than-projected deficit due to the economy doing better than anticipated and improving efficiencies.

When the fall budget was released in November, the deficit was projected to be $78 billion for the 2025-2026 fiscal year, but now, the Liberals are estimating it will come in at around $67 billion.

"Very positive news compared to what could be a very bad situation. It seems to me that we're almost back in that same 2008 world recession kind of timeframe, where we have to take bold action," she said. "I think this plan shows that it's working and shows that there's additional steps and we're just getting started."

Tuesday's announcement marked Gladu's first economic update as a Liberal MP, after she crossed the floor on April 8.

-With files from Stephanie Chaves and Mark Brown

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(Photo of the Bank of Canada from bankofcanada.ca)

No change in Bank of Canada rate

It announced on Wednesday morning that the overnight rate will remain at 2.25 per cent, with the bank rate at 2.5 per cent, and the deposit rate at 2.2 per cent.