Economy Budget

Run short-term deficits of less than $10 billion in each of the next two fiscal years (2016 and 2017).

Liberal Platform Page 12 October 5, 2015
Mar 2017

Federal budget 2017: Trudeau government projects $28.5 billion deficit in 2017-2018

Global News March 22, 2017

Finance Minister Bill Morneau’s second budget projects shortfalls of $23 billion for 2016-17, $25.5 billion next year and $24.4 billion in 2018-19, not including a $3 billion contingency fund – forecasts that have each shrunk between $1.5 billion and $2.1 billion since the fall.

Later in the outlook, the annual deficits are expected to be little bigger than previously thought. But the government once again failed to outline a plan to return the books to balance, which it promised to do in its 2015 election platform.

Mar 2016

Ottawa forecasts $29.4B deficit - with lots more red ink to come

CBC News March 22, 2016

The Liberal government unveiled its first federal budget on Tuesday, an outline of the new government’s spending projections that’s awash in big plans — and big deficits.

Ottawa plans to spend almost $30 billion more than it takes in this coming fiscal year, a big jump from the $5.6 billion deficit for the current year straddling the previous Tory and current Liberal governments.