Canadian election 2019: Strong Liberal minority eases business uncertainty, adds to pipeline angst
TORONTO/CALGARY – A stronger than expected minority government in Ottawa will mean less uncertainty for businesses than was feared but still raises concerns about pipeline investment and higher deficits as the Liberals are forced to broker alliances with rival parties to retain power.
While the Liberals are free to court the support of any party, they are most likely to form an alliance with the NDP given broad similarities in policy priorities that include the carbon tax, restrictions on non-resident ownership in real estate, a desire to expand pharmacare and reduce cell phone bills.
“That is the net result of this election outcome, that we probably are looking at a somewhat looser fiscal policy and somewhat larger budget deficits than would otherwise be the case,” he said. “To the extent that uncertainty is the enemy of business we have a medium level over the next few years,” said Dan Kelly, president and CEO of the Canadian Federation for Independent Business. “That’s enough to allow business people plan without worrying about a massive amount of policy change in the days ahead.”
The Conservatives dominated the vote in Saskatchewan and Alberta, taking all but one seat in the latter province amid simmering anger over the slow progress on the Trans Mountain Pipeline.
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