Trudeau to Reconvene Canadian Parliament on Dec. 5

(Bloomberg) -- Canadian Prime Minister Justin Trudeau will reconvene parliament next month, after elections that saw his Liberals lose their majority in the legislature.

Lawmakers will return on Dec. 5 to elect a Speaker of the House of Commons, followed by a so-called Throne Speech that sets out the government’s agenda, according to a statement from the prime minister’s office.

Trudeau won a second term in national elections on Oct. 21, but without enough seats to pass legislation without the support of other parties. The prime minister has said the government’s first order of business will be to implement a promised tax cut for Canadians, and the move to return parliament in December suggests he may be planning a budget update before the end of the year.

The Liberals are pledging to raise the threshold under which no taxes are paid, a move projected to cost C$2.9 billion next year. The Liberals are anticipating their deficits will jump to about C$27 billion ($20.4 billion) in 2020, exceeding 1% of gross domestic product for the first time since 2012.

A new cabinet is also scheduled to be announced on Nov. 20.

To contact the reporter on this story: Theophilos Argitis in Ottawa at targitis@bloomberg.net

To contact the editors responsible for this story: Theophilos Argitis at targitis@bloomberg.net, Chris Fournier

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