At $29.4 billion, the projected budget deficit in 2016/17 is larger than the cumulative budget deficits projected for the entire mandate in the Liberal platform.
canadian federal budget
This year alone, spending is projected to increase by $20.5 billion, a 7.6 per cent jump.
Since 2007/08, Canada’s federal debt has grown by $176 billion to $692 billion in 2015/16.
The just-released Parliamentary Budget Officer report projects deficits in every year from 2016/17 to 2020/21.