The budget proposes cumulative deficits totalling $72.8 billion over the government’s first mandate.
Finance Minister Bill Morneau’s budget missed an opportunity to convince investors that Canada remains a desirable place to invest.
The government has once again refused to set a timeline for returning to a balanced budget.
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.
Upon assuming power, the Trudeau government immediately increased budgeted federal program spending by $8.1 billion over 2015-16 to 2019-20.
Canada’s economy has grown at or above 1 per cent in 18 different quarters since 2000.
The federal government plans to spend $8,337 (per person) this fiscal year.