Federal program spending in 2021/22 is $54.4 billion higher than planned in November 2020.
federal government debt
The government says $101 billion in stimulus spending is required for “sustained economic recovery.”
Interest payments on the federal debt are expected to equal $20.2 billion in 2020/21.
The federal government has seemingly ditched the debt-averse approach that largely prevailed in Ottawa since the mid-1980s.
Ontario will spend an estimated $13 billion on government debt interest costs in 2020/21.
This year's federal budget deficit will reach a projected $381 billion.
Ottawa annually pocketed $22 billion more in revenue from Alberta than it spent in the province.
Ontarians carry the second-largest combined government debt burden among Canadians.
The Trudeau government will run a record budget deficit approaching $400 billion.