According to the update, the government will continue to spend well in excess of projected revenues.
federal government debt
Despite the dismal state of federal finances, the speech did not include the terms “deficit” or “debt."
During the Trudeau period, business investment actually declined by 0.2 per cent.
Over a two-year span, Ottawa is expected to add more than $500 billion in federal debt.
Due to federal tax changes, 61 per cent of low-income families face higher personal income taxes.
The Trudeau government ranks last on average total household income growth.
Canada has the fifth-highest level of total indebtedness (relative to the size of our economy) among 29 industrialized countries.
Federal program spending in 2021/22 is $54.4 billion higher than planned in November 2020.