With deficit projected to soar to $92 billion, 'it is unfair to pass these burdens on,' C.D. Howe Institute says

OTTAWA — A report from the C.D. Howe Institute projects that Prime Minister Mark Carney’s government will face a staggering deficit of over $92 billion this fiscal year, nearly double previous estimates, with ongoing deficits exceeding $77 billion annually for the next four years. The report criticizes the government’s delayed budget release and calls for improved accountability and potential spending cuts to address Canada’s fiscal challenges.

Explain It To Me Like I’m 5: A new report warns that Canada’s government, led by Prime Minister Mark Carney, is facing a much bigger money problem than expected, with huge debts and spending, which could hurt future generations.

Want More Context? 🔎