Fiscal update—feds five-year cumulative deficit $32 billion higher than initially planned

In the spring of this year, the federal Liberals released their first budget, which centred on big increases in government spending, persistent deficits, growing debt and higher taxes. At the time, we warned that a fundamental problem with the government’s approach of running significant budget deficits outside of a recession is that it exposes Canada’s finances to serious risk.If the expected growth doesn’t materialize, this could trigger a greater run-up in debt. Yesterday’s economic and fiscal update confirmed this is happening. Federal finances are now in worse shape than they were just seven months ago.Recall the spring budget proposed marked increases

Read More - The Fraser Institute