Carney’s First Budget: Record Debt, Rising Costs

Prime Minister Mark Carney unveils a $78.3-billion deficit and $1.3-trillion debt plan — Kris Sims breaks down what it means for taxpayers.

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Prime Minister Mark Carney has released his first federal budget. It projects a $78.3-billion deficit this year, pushing the national debt to about $1.3-trillion. The cost of servicing that debt now totals $55.6-billion in annual interest payments.