federal government debt
Federal government spending (per person) is at a record high.
For April and May of this year, federal government program spending increased by $6.3 billion.
The federal deficit was approximately $19 billion in both 2016/17 and 2017/18.
The federal deficit could hit $34.4 billion should Canada go into recession.
The 2018-19 federal deficit will be $800 million higher than projected in the government’s budget.
Canada’s gross debt will increase this year by almost $120 billion.
Program spending is set to grow again by 1.8 per cent this year.