Spring economic update brings federal debt to $1.4 trillion by end of 2026
Prime Minister Mark Carney and Finance Minister Francois Philippe-Champagne announced another $65 billion deficit for 2025-26, bringing the debt to an estimated $1.4 trillion by the end of the year.
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.
 |
|