Up to $22.3 billion of income stabilization spending was likely wasted or poorly targeted.
Federal net debt for 2020-21 will likely exceed $1.1 trillion.
Canada ranks 6th highest among 35 high-income for the share of the economy represented by government spending.
The federal debt will reach nearly 70 per cent of GDP by 2050.
Ottawa plans to create a national childcare system and introduce more “green” spending initiatives.
As the baby boomers continue to retire, the proportion of working Canadians will also decline.
In the 1990s, federal debt-interest costs routinely eclipsed 30 per cent of revenues.
The federal budget deficit in 2020-21 will be the largest in Canadian history.
The federal budget deficit has skyrocketed to 15.9 per cent of Canada's economy.
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.