11/12/2014 02:13 EST | Updated 01/12/2015 05:59 EST

Justin Trudeau Calls Conservative Fiscal Update 'Unfair'

VANCOUVER - Liberal Leader Justin Trudeau says the federal government's fiscal update is "unfair."

Trudeau says the federal government chose to spend its budget surplus on tax breaks such as income splitting, which benefits only a very small number of Canadians.

The Conservative government has released a fiscal update that projects a $1.9-billion budget surplus next year, which is $4.5 billion less than expected.

That's significantly lower than the $6.4-billion surplus projected in February's budget — due in large part to the government's multibillion-dollar cost-cutting proposals for families.

Trudeau says the Conservative government is too focused on getting re-elected instead of helping middle-class Canadians.

Finance Minister Joe Oliver says Canada is projected to run a $2.9-billion shortfall this fiscal year, matching the government's projection in the federal budget in February.

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