Canadian deficit could reach $30 billion per year; Parliamentary Budget Office
It seems the Trudeau government has failed a pivotal promise to balance the Canadian budget by next year.
According to the Parliamentary Budget Office, Canada’s deficit could expand to a whopping $30 billion per year.
BREAKING: Trudeau promised a balanced budget by next year. Just off the phone with the Parliamentary Budget Office, which today projects it could balloon to almost $30 BILLION/year.
— Pierre Poilievre (@PierrePoilievre) December 11, 2018
This massive deficit is perhaps not surprising to some, given early reports from Canada’s finance department which predicated a balanced budget by the year 2045.
As well as the Prime Ministers initial response that budgets could easily balance themselves.
With the deficit rapidly expanding, and critical projects such as TransMountain stuck, at the same time that Albertan fuel trades at all time lows, it will be fascinating to see how the Trudeau government attempts to deal with a rapidly growing revenue problem.
Will they decide to raise taxes on middle-class families? 92% of which will already see higher taxes of $2200 this year, or will he choose to once again search for savings in the pensions of veterans?
What do you think about this rapidly expanding deficit? Join the conversation by commenting below!