The province expects a $15.5 billion budget deficit next year.
Government Spending & Taxes
Eliminating the entire equalization program this year would reduce the federal deficit by only 5.4 per cent.
The share of the population over 65 is projected to grow from about 18 per cent to nearly 26 per cent.
The Trudeau government sees the government itself as the driver of prosperity, and the private sector, including entrepreneurs, small business owners and investors playing a secondary role.
Ottawa plans to create a national childcare system and introduce more “green” spending initiatives.
The fundamental idea is for government to ensure a minimum annual income for all Canadians.
The federal budget deficit in 2020-21 is an esitmated $343.2 billion.
Ottawa has spent billions on its innovation agenda including $950 million to five hand-picked sectors of the economy.
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