Statement:
The big questions are how will Canadians get out of the debt that Trudeau and Freeland have unnecessarily put us in and will Liberal supporters finally realize that the Liberal policies should not be voted for again?
Article:
Main Conclusions
- While the federal government significantly increased its debt in 2020 and 2021, the pandemic exacerbated Canada’s pre-existing fiscal challenges rather than created them.
- Between 2015/16 and 2019/20, the federal government ran five consecutive deficits, causing nominal federal net debt to rise by $112.2 billion.
- During this period, growth in federal program spending was far more rapid than growth in revenues. In fact, the Trudeau government boosted nominal federal program spending by 36.1%, from $248.7 billion in 2014/15 to $338.5 billion in 2019/20.
