The Liberal leader says the extra $60 billion in spending over 10 years would boost infrastructure spending to $125 billion.
It includes significant new funding for public transit and transportation and affordable housing, as well as funding to help communities adapt to climate change, which has been blamed for billions in damage from flooding, wildfires and hailstorms. A Liberal government would also negotiate agreements with the provinces and territories to transfer infrastructure money to local governments.
Trudeau says a Liberal government would run modest, short-term deficits until 2019 when it would balance the books.
The party’s latest platform plank says shortfalls in the federal treasury over the next two years would amount to no more than $10 billion dollars per year.
Trudeau’s refusal to rule out a deficit opened him up for attacks this week by both the NDP and the Conservatives, who are now using the Liberal position for a fundraising appeal among supporters.
But he insists the other parties would have to make deep spending cuts to deliver on their promises to balance the budget even though the country is teetering on the brink of — or already in — a recession.