According to the budget, federal spending will reach $434.3 billion this year, more than a two-thirds increase in less than a decade.
federal government spending
Under the old classification, program spending would have been more than $10 billion higher.
According to projections, the federal debt will reach nearly $2 trillion in 2026-27.
This year the federal government expects to spend $52.8 billion more than it has in revenues.
In 2020, the federal expenditure share jumped to 40 per cent.
Residents in all provinces already pay more than $550 per person annually on government debt interest.
The expansion of the Canada Child Benefit was financed largely by borrowing.