MNI BRIEF:Canada Budget Needs Generational Investment: Fin Min

Canada's finance minister said his budget next month needs to provide a "generational investment" to fend off damage from the U.S. trade war, while declining to comment on a newspaper report the deficit will grow to CAD100 billion from a campaign pledge of just over CAD60 billion.

Francois Philippe Champagne told reporters Monday the government will also aim to curb spending in other areas to free up room for longer-term projects, without providing details. (See: MNI: Carney Deficits Are Bulwark Against Big Macklem BOC Cuts) MNI previously reported the government set up a power to borrow an extra CAD95 billion to deal with the trade war. (See: MNI: Canada Approved CAD95B Geopolitical Contingency Borrowing)