According to the update, the government will continue to spend well in excess of projected revenues.
Between 2016 and 2019, per-person GDP grew at an average annual rate of only 0.8 per cent.
Program spending could grow by nearly $50 billion in just five years
Just six months into its 2018/19 plan, the government upped spending by $8 billion.
Economic growth expected to moderate dramatically starting next year.
Are we really going to spend $135 million on talk shows?
The government has removed its annual safety cushion of $6 billion per year.
Reports in advance of Ottawa’s federal fiscal update suggest the deficit may reach $34 billion.
After federal Finance Minister Jim Flaherty unveiled his latest financial plan Tuesday, much of the media hype centred on the government's larger than expected surplus in 2015-16. Early chatter seemed to accept the government will deliver as promised and some declared its "conservative assumptions" might allow for the deficit to be eliminated even earlier.