Taxpayer group calls Liberal economic update a “borrowing binge”
The update projects a $65 billion deficit for 2025-26, which the government says will decline to $53.2 billion by 2030-31.
The Canadian Taxpayers Federation is calling on Prime Minister Mark Carney to “work harder to find savings” as the Liberals’ recent fiscal update revealed that the federal government is already projected to be $6.5 billion over budget.
“Carney just released his budget six months ago and he’s already on track to spend $6 billion over budget. The budget update shows the debt continues to spiral out of control because spending continues to spiral out of control,” said CTF federal director Franco Terrazzano on Tuesday.
“Every dollar Canadians pay in federal sales tax is going to pay interest on the debt and that’s unaffordable and unsustainable.”
