Finance Minister Bill Morneau on Monday added another chapter to the book of fairy tale accounting authored by Prime Minister Justin Trudeau since he was elected in 2015.
During that election, Trudeau promised — not predicted, promised during one of the televised leaders’ debates — that the Canadian government under his leadership would have a $1 billion surplus this year.
Instead, Morneau’s economic update puts the deficit at $26.6 billion this year and $28.1 billion next year, before gradually shrinking to $11.6 billion in 2024-25, meaning five more years of double-digit deficits with no balanced budgets in sight.
