Budget 2023: The Liberals’ reckless deficit of choice
spending billions of dollars you don’t have is reckless, according to Finance Minister Chrystia Freeland.
That should certainly put to rest any worry that the Liberals might match their rhetoric of fiscal prudence with any real spending restraint in next Tuesday’s budget. Last fall’s halfhearted projection of a surplus in fiscal 2027-28 is likely to be a distant memory. As the accompanying chart shows, the spurt of Liberal spending since last spring means Canada is more likely headed for wall-to-wall deficits over the next half-decade, despite an inflation-fuelled surge in revenues.
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