Despite the dismal state of federal finances, the speech did not include the terms “deficit” or “debt."
federal government budget
The Trudeau government forecasts a $154.7 billion budget deficit in 2021/22.
The plan calls for $27.2 billion over the next five years to reduce daycare costs.
From 2016 to 2019, Canada saw relatively low rates of growth in incomes and private-sector job creation.
The federal debt-to-GDP ratio will reach 51.2 per cent, the highest level since 1999.
At 79 per cent, Canada had the fastest growth in its debt-to-GDP ratio in the G-7.
Ottawa ran budget deficits worth a total of $94.1 billion from 2015/16 to 2019/20.