Bankers blast Ottawa budget for lacking “fiscal credibility”
The Forum for Financial Markets warned Ottawa has “no path to balance” after years of overspending.
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.
