Federal finances to go deeper into red; $14-billion in support for business in face of U.S. tax cuts, fall update shows

A major spending add were costs for the federal carbon-pricing plan, totaling more than $1.5-billion between now and 2022, though the fall update stated that such figures are likely to be lower due to accounting revisions and the fact that revenues from fuel charges are to be returned to the provinces where the federal backstop applies.

Projections on annual deficits between 2019-20 and 2022-23 will be between $600-million and $1.9-billion higher than forecasted in last February’s budget, according to Finance Minister Bill Morneau's fall economic update. The Hill Times file photograph by Andrew Meade

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BY JOLSON LIM

November 21, 2018

The Liberal government is forecasting bigger deficits in the near future as the country heads closer to an election in which big government spending is expected to be a hot-button issue. In Finance Minister Bill Morneau’s (Toron...

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