Federal program spending is expected to grow by $132.7 billion—or 41 per cent—between 2014/15 and 2023/24.
federal government spending
The budget dumps billions into the government’s bottomless climate policy money pit.
When spending is financed by large deficits, it can fuel inflation or impede economic growth.
The federal debt-to-GDP ratio is on track to increase between 2022-23 and 2023-24.
The total value of government debt in 2022 in Canada exceeded the entire size of the economy by more than 10 per cent.
The Trudeau government has recorded the five highest levels of federal spending per person in Canadian history.
The government says it’s spent more than $120 billion on climate change since 2015.
The effects of a recession could set off a debt “doom loop” with the debt ratio spiralling upward.
Only 39 per cent of Australians support a broad-based increase in personal income taxes.