The government expects to borrow $331.9 billion over the next five years, bringing the national debt to at least $1.5 trillion.
guaranteed income supplement
Bill C-273 calls on the federal finance minister to assess a potential guaranteed annual income in Canada.
Borrowing costs could increase without interest rates changing if lenders believe Canada is becoming a bigger credit risk.
The fundamental idea is for government to ensure a minimum annual income for all Canadians.
The one-time payment to seniors will cost an estimated $2.5 billion.
The federal deficit this year will reach an estimated $184.2 billion.
The auditor general noted there were 3.8 million more social insurance numbers for Canadians 20 years and older than actual people in that age group.