Federal program spending in 2021 will reach a projected $11,370 per person—or 18.7 per cent of the economy.
The string of deficits will increase Nova Scotia’s government debt by nearly 40 per cent from 2019/20 to 2024/25.
Trudeau moving Canada towards American-style government with more centralized decision-making, federal spending, borrowing
It’s been almost 20 years since the U.S. federal government balanced its budget.
If Prime Minister Trudeau keeps his commitment to no new taxes, borrowing will finance the proposed expansion.
Total provincial government deficits will reach an estimated $63.0 billion this year.
Governments can find themselves at a new baseline spending level far in excess of revenues.
The Blue Ribbon Panel and the Kenney government face a daunting fiscal challenge.