November 20, 2015 / 4:54 PM / 3 years ago

BRIEF-New Canada finance minister speaks in Ottawa

Nov 20 (Reuters) - Canada Deputy Finance Minister Rochon: not unusual to adjust private not unusual to adjust private-sector forecasts for govt outlook, oil price continued to fall since private-sector survey in oct

* Canada’s Finance Minister Morneau: consensus at G20 this was a challenging time for economy

* Canada’s Morneau: fiscal update serves as starting point for Liberal budget for 2016

* Canada’s Morneau: it is not possible to cut our way to prosperity

* Canada’s Morneau cites need for balance between fiscal responsibility and the government’s campaign promises

* Canada’s Morneau, asked if government will exceed planned deficits of up to c$10 billion, says “that’s a good question”

* Canada’s Morneau: we intend on keeping our election commitments

* Canada’s Morneau: worse economic outlook reinforces need for spending plan promised by liberals

* Canada’s Morneau: too soon to say whether would go over C$10 billion deficit

* Canada’s Morneau: have not come to conclusion on taxation of stock options, but any decisions would only apply to stock options issued from that date forward

* Sector forecasts for government outlook, oil price continued to fall since private-sector survey in Oct

* Canada’s Morneau says doesn’t have exact date for next budget

* Canada’s Morneau: we aspire to moving on our infrastructure projects as soon as possible

For main story click on (Reporting by Randall Palmer and Leah Schnurr)

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