The Carney Liberals are facing fresh pressure to rein in Ottawa’s spending after investment bankers called for a return to “fiscal credibility” and a Toronto think tank warned MPs about runaway deficits.
“Restore fiscal credibility,” the Canadian Forum for Financial Markets wrote the Commons finance committee. “Re-establish the debt-to-GDP ratio as the fiscal anchor with a clear, medium-term path back to pre-pandemic levels.”
As reported by Blacklock’s Reporter, the federal debt-to-GDP ratio has climbed from 30 per cent in 2019 to 41 per cent and is projected to top 42 per cent next year.
