Morning Update: Ottawa loosens fiscal restraints with new spending

Good morning, Slower economic growth and higher public spending are straining Ottawa's bottom line, as the Liberal government's 2023 budget announced billions in new spending on clean technology and an expanded national dental care program. Finance Minister Chrystia Freeland said her economic plan will position Canada to take advantage of a moment in which the United States and other democratic allies are seeking to green their economies, while reducing their supply-chain dependence on China and Russia. After two years of rapid growth as pandemic restrictions loosened, the Canadian economy is expected to stall this year under the weight of higher…