Federal Deficit Could Grow to $117 Billion by 2035: Report
Canada’s current fiscal trajectory will lead the federal deficit to grow to $117 billion by 2035, according to a new report. While the federal government’s latest budget projects a deficit of just $57 billion by 2029, the report by public policy think tank MEI said that increasing elderly benefits, transfers to provinces, and military spending [...]
Federal Deficit Could Grow to $117 Billion by 2035: Report A new report from the MEI suggests Canada’s federal deficit could reach $117 billion by 2035, significantly higher than the government’s own projections. This projected increase is attributed to rising costs in elderly benefits, provincial transfers, and military spending. The report emphasizes that without policy changes, federal spending will outpace revenues.
- Canada’s federal deficit is projected to reach $117 billion by 2035.
- This figure is higher than the government’s projection of $57 billion by 2029.
- Increased spending on elderly benefits, provincial transfers, and military are cited as key drivers.
- Federal spending is expected to grow faster than revenues without policy adjustments.
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