The federal debt will reach nearly 70 per cent of GDP by 2050.
federal government spending
All the disposable income of Canada’s top earners—those earning $250,000 or more annually—would fund only 25 per cent of the GAI.
Ottawa has spent billions on its innovation agenda including $950 million to five hand-picked sectors of the economy.
In the 1990s, federal debt-interest costs routinely eclipsed 30 per cent of revenues.
Green technologies that were known money-losers pre-COVID remain money-losers today.
Evidence suggests that a 1.0 percentage point increase in spending produces a 0.75 percentage point drop in economic growth.
Trudeau government—and provincial governments across Canada—can learn from past fiscal consolidations
The Trudeau government’s recent fiscal update forecasted a $343 billion deficit this year.
Indigenous and Northern Affairs represented the largest share of federal program spending growth.
The Trudeau government ran consistent deficits and accumulated significant debt over its first four years in office.