Federal finance minister Bill Morneau was tight-lipped Friday about the upcoming budget after meeting with private sector economists, but says among the issues top of mind are the recent U.S. corporate tax cuts.
He would not comment on whether tax cuts are in the cards for Canadian corporations to re-establish the country's competitiveness for attracting business.
Under U.S. president Donald Trump, corporate tax rates south of the border were cut dramatically as of Jan. 1.
Morneau also hinted that clarifications to rules around passive income for small businesses would be coming, part of a suite of changes announced last summer that drew substantial criticism from the business community.
Morneau was meeting with private sector economists in Toronto to get their input on everything from NAFTA to global economic uncertainty ahead of the federal budget on Feb. 27.
The panel typically includes about a dozen experts from commercial banks, think tanks and trade associations.
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