At the provincial level, an aging population is putting upward pressure on health-care spending.
The federal and provincial governments will run combined deficits of $86 billion in 2022.
The average Nova Scotia family will pay more than 44 per cent of their income on taxes this year.
So-called "stimulus spending" displaces future private spending and reduces future economic growth.
Persistent labour shortages are helping drive up costs.
The province's revenue will likely be even higher than forecast in Budget 2022.
According to forecasts, the province’s net debt will eclipse $468 billion by 2024/25.
In 2020, the federal expenditure share jumped to 40 per cent.
The federal government projects a budget deficit of $52.8 billion for 2022.
Many foundations in Canada will struggle to increase their charitable spending so quickly.
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