The government is pouring billions into subsidizing child care, artificially inflating demand.
federal finances
Since 2015, the federal government's gross debt has increased by a projected one trillion dollars.
Canada's inflation-adjusted per-person GDP declined from $59,905 to $58,028.
Because of its own failures to responsibly manage the nation’s finances, Canada is in a weak fiscal position to increase defence spending.
According to the budget, the government will spend $95 billion more in 2024-25 than it planned only three years ago.
The size of the federal government has expanded by more than one quarter in a decade.
Compared to last year’s fiscal plan, the government will now overspend by $120.8 billion over five years.
In 2024/25, federal program spending will reach a projected $483.6 billion—up $16.1 billion from the previous budget’s estimates.