This year's federal budget deficit will reach a projected $381 billion.
federal government debt
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.
Federal net debt for 2020-21 will likely exceed $1.1 trillion.
Since the 1970s, Canada’s spending-to-GDP ratio has always been larger than the ideal range to maximize economic growth.
Ottawa plans to create a national childcare system and introduce more “green” spending initiatives.
Debt interest will cost Ottawa an estimated $19.5 billion this year.
The federal budget deficit in 2020-21 will be the largest in Canadian history.