According to estimates, economic growth is maximized when government spending is about 26 per cent of GDP.
Budget 2021 includes $30 billion over five years for national childcare.
Federal program spending in 2021 will reach a projected $11,370 per person—or 18.7 per cent of the economy.
The string of deficits will increase Nova Scotia’s government debt by nearly 40 per cent from 2019/20 to 2024/25.
Trudeau moving Canada towards American-style government with more centralized decision-making, federal spending, borrowing
It’s been almost 20 years since the U.S. federal government balanced its budget.
If Prime Minister Trudeau keeps his commitment to no new taxes, borrowing will finance the proposed expansion.
Total provincial government deficits will reach an estimated $63.0 billion this year.