Liberals present ballooning federal deficit of $61.9-billion in latest fiscal update

The mini-budget blew past former finance minister Chrystia Freeland’s April promise to keep to a $40-billion deficit target. Freeland exited cabinet the same day she was set to present the document.

The long-awaited fall economic update was tabled late on Dec. 16, the same day as Chrystia Freeland's surprise exit as finance minister.The Hill Times photograph by Ian Campbell

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BY IAN CAMPBELL

December 16, 2024

A pledged $40-billion deficit has ballooned by more than 50 per cent to reach $61.9-billion for the current fiscal year—as the finance minister who pledged to keep that deficit in check departed hours before the numbers were released.

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