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Economy to see greater benefits of a low loonie over time, Morneau says as he courts U.S., Europe investors

"Positive effects of the lower dollar may take longer to materialize, especially as our manufacturing sector adjusts after a longer period where the dollar was strong," Finance Minister Bill Morneau said Wednesday.

OTTAWA – Bill Morneau has spent a lot of his post-budget time criss-crossing the country to sell the Liberal’s deficit-heavy spending intends to Canadians.

Now, the finance minister is taking that same message to the world’s largest financial centres – beginning in New York, and followed by stops in Paris and London.

For Canadians, his message is really a familiar one in the October election campaign: “There has never been a much better time for you to invest in Canada.”

But to achieve that, Morneau will need to pile on around $120 billion worth of debt within the government’s term in office, and likely beyond – the biggest deficit since 2009, when the then ruling Conservatives were battling a global recession.

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