 Deficit has soared ahead of March 22 budget, Morneau says The Liberal government is forecasting larger-than-expected deficits for the next two years even before adding billions in promised spending in a budget to be tabled March 22. Finance Minister Bill Morneau is providing a fiscal update at a town hall in OttCommentsview comments in forum Page 1 You need to be a member of CKA and be logged into the site, to comment on news. |
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The $18.4-billion figure does not include the planned infrastructure and stimulus spending.
It's only going to get higher.
The $18.4-billion figure does not include the planned infrastructure and stimulus spending.
That $18.B figure also presumes a $40/bl price for oil. So it's worse yet.
At least anyone over 50 won't be paying for it.
For the rest of you, oh well, too bad.
However, the government is basing those surpluses on a contingency fund of $1 billion for each of the next three years, instead of the traditional $3 billion that has been set aside in several past budgets.
Had the government planned for the customary $3-billion contingency fund, instead of $1 billion, projected federal revenues would have been $2 billion less than what is forecast � meaning the $1.4-billion surplus in 2015-16 would actually be a $600-million deficit.
http://ottawacitizen.com/news/politics/ ... gency-fund
http://business.financialpost.com/news/ ... 20-billion