Nojoud Al Mallees, The Canadian Press
The parliamentary budget officer says the government likely broke its promise to keep the deficit capped at $40 billion, and the PBO is projecting a deficit of $46.8 billion for the last fiscal year.The fiscal update comes as the Liberals face a smaller window to turn the tide with voters on affordability issues ahead of the next federal election, which must take place by October 2025.
The government estimates the GST break will cost Ottawa $1.6 billion, while the rebate would cost $4.7 billion. “The government must use the Dec. 16 fall economic statement to prioritize effectively and adopt greater fiscal discipline.”
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