As the dust settles from Monday’s federal economic and fiscal update, it becomes ever more apparent that Ottawa does not have a revenue problem but a massive spending problem.
From budgetary revenues of $332.2 billion in 2018-19, the revenue total is expected to grow to $411.9 billion by 2024-25—an increase of nearly $80 billion or 24 per cent. At the same time, total expenditures will grow from $346.2 billion in 2018-19 to a projected $420.5 billion in 2024-25, representing an increase of $74 billion or 21 per cent. As a result, deficits will range from a projected high of $28.1 billion in 2020-21 to a low of $11.6 billion in 2024-25.
https://www.fraserinstitute.org/blogs/ottawa-has-a-big-spending-problem
