"The update shows a lower-than-forecasted deficit for the fiscal year that ended last month, coming in at $66.9 billion compared to the projected $78.3 billion. This improvement is attributed to a $60-billion uplift from surging oil prices."
"The government plans to spend $37.5 billion on newly announced measures and aims to recruit 80,000-100,000 new skilled trade workers by the 2030-31 fiscal year, which is essential for building homes and national interest projects."
"Carney has promised to balance the operating budget while only running deficits to finance investments, but the overall budgetary outlook indicates deficits of well over $50 billion each year into 2031."
The spring economic update presented by Prime Minister Mark Carney and Finance Minister Francois-Philippe Champagne shows a deficit of $66.9 billion, lower than the projected $78.3 billion. The government plans to spend $37.5 billion on new measures and aims to recruit 80,000-100,000 skilled trade workers by 2030-31. A $6 billion investment over five years will support this recruitment initiative. Despite efforts to balance the operating budget, deficits are expected to exceed $50 billion annually until 2031.
Read at www.cbc.ca
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