UPDATE 2-New Canada finance minister Morneau brings corporate experience

Wed Nov 4, 2015 6:36pm EST
 
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(Adds comments from Morneau, paragraphs 3-6)

By Leah Schnurr

OTTAWA Nov 4 (Reuters) - Canadian Finance Minister Bill Morneau, a political newcomer appointed to the powerful post on Wednesday, brings decades of business experience which should reassure corporate Canada even as the Liberal government deploys a deficit-fueled stimulus plan.

Morneau's expertise on pension reform will also be an asset to Prime Minister Justin Trudeau, who has pledged to work with the provinces and businesses to enhance the national pension plan.

Morneau said the issue of expanding Canada's pension plan is "very important."

"Canadians aren't saving enough to have a secure retirement," Morneau told CBC television.

"We're not going to have a plan tomorrow, but we are going to start thinking about what the right way to approach it is tomorrow."

He also said he had not yet decided whether a fiscal update will be provided ahead of next year's budget.

Morneau, 53, cut his executive teeth at Morneau Shepell, a firm founded by his father in 1966. When elected, he was executive chair of the company, a position he has since resigned.   Continued...