Canada’s unemployment rate in August rose to six per cent with Ontario leading the way, losing about 80,000 jobs.
The PBO projects a cumulative federal deficit of $85.6 billion over the next five years.
Only 10.6 per cent of the nearly $100 billion in new infrastructure spending is for trade and transportation.
Canada’s federal net debt will climb to $831.5 billion by 2022-23.
Finance Minister Bill Morneau’s budget missed an opportunity to convince investors that Canada remains a desirable place to invest.
The reasonable approach to balancing the budget is to find savings and reduce spending—not raise taxes.
This $51 billion increase in spending represents total growth of 20.1 per cent in just three years.