The Carney government released its spring economic update, with the federal debt now poised to reach $1.4 trillion by the end of the year.
The update projects a $65 billion deficit for 2025-26, which the government says will decline to $53.2 billion by 2030-31.
“This Liberal prime minister has now doubled the deficit that Justin Trudeau left behind from $31 billion to $65 billion,” said Conservative Leader Pierre Poilievre in the House of Commons on Tuesday.
