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Joan Bryden, The Canadian Press Published Tuesday, January 20, 2015 7:09AM EST Last Updated Tuesday, January 20, 2015 7:03PM EST

LONDON, Ont. -- Justin Trudeau is casting his refusal to be pinned down on economic policy as a sign he's more prudent and fiscally responsible -- and even more prime ministerial -- than Stephen Harper, whom he accuses of making it up on the fly.

The Liberal leader asserted Tuesday that the calamitous plunge in oil prices demonstrates how reckless Harper's government has been in spending a budget surplus that is rapidly vanishing.

"I think it's become fairly clear that because Mr. Harper put all his eggs in the same basket, counting on oil prices remaining high, he is now reacting and flailing and indeed making it up as he goes along," Trudeau said outside the first day of a two-day Liberal caucus retreat.

A Conference Board of Canada report Tuesday estimated that the drop in oil prices -- to less than US$50 from more than US$100 a barrel last summer -- will drain $4.3 billion out of federal revenues this year.

The repercussions of the oil price slide prompted Finance Minister Joe Oliver to announce last week that he's postponing the budget until at least April.

As a cornerstone of its platform for the federal election scheduled for October, the government has vowed that the 2015-16 budget will post a modest surplus after six years of deficits and it has already committed to spend most of it on a family tax-benefit plan.

However, the loss of billions in oil revenues has raised questions about the government's ability balance the budget and deliver on its pricey promises.

It's also raised questions about how NDP Leader Tom Mulcair, who began unveiling platform planks last fall, intends to pay for his proposals, including a $5-billion-a-year, national day-care program.

Trudeau has been heavily criticized for refusing to spell out policy details in advance of the election. But he cast that as virtue Tuesday, in light of the oil price plunge.

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