Program spending is projected to increase from pre-pandemic levels by 15.2 per cent in 2021/22.
Blog - Fraser Forum
Budget 2021 includes $30 billion over five years for national childcare.
The federal debt-to-GDP ratio will reach 51.2 per cent, the highest level since 1999.
The plan includes a “carbon price” between $20 per tonne and $50 per tonne on fuels.
At 79 per cent, Canada had the fastest growth in its debt-to-GDP ratio in the G-7.
Interest payments on the federal debt are expected to equal $20.2 billion in 2020/21.
The president wants to increase the federal corporate tax rate to 28 per cent.
By 2023/24, debt interest will consume 6.6 per cent of all provincial revenues.
Subscribe to the Fraser Institute
Get the latest news from the Fraser Institute on the latest research studies, news and events.