This year's federal budget deficit will reach an estimated $381.6 billion.
federal government spending
Up to $22.3 billion of income stabilization spending was likely wasted or poorly targeted.
This government has not released a long-term forecast of spending, taxation and borrowing since 2018.
Federal government spending is expected to increase by more than 68 per cent in 2020-21.
The relative size of government in Canada is well beyond the “optimal” size for promoting productivity growth.
Canada ranks 6th highest among 35 high-income for the share of the economy represented by government spending.
The federal debt will reach nearly 70 per cent of GDP by 2050.
All the disposable income of Canada’s top earners—those earning $250,000 or more annually—would fund only 25 per cent of the GAI.
Ottawa has spent billions on its innovation agenda including $950 million to five hand-picked sectors of the economy.