New Federal Budget Projects A $19.8 Billion Dollar Deficit With No Plan To Return To Balance

Finance Minister Bill Morneau has introduced the government’s final budget bill of its current mandate, promising billions in fresh spending for pharmacare, retraining workers, and to help first-time home buyers. But funding for some of the new commitments will only start kicking in after October’s election.  This was the year the budget was supposed to balance itself … however it didn’t.  This one contains $200-million-dollars more in borrowing.  It adds up to a projected $19.8-billion-dollar deficit for this fiscal year and the Finance Minister admits there is still no plan to return to balance within the next 10-years.

If you expected to hear Bill Morneau actually deliver his budget speech in the Commons yesterday, then you know it was a struggle.  The Tories chanted “Let her speak” in drowning Morneau out to protest the Liberals using their majority on the justice committee yesterday to end the SNC Lavalin inquiry. That’s right … they simply shut it down and said they don’t need to study it anymore. Conservative and NDP members want ex-attorney general Jody Wilson-Raybould recalled to offer testimony covering her time after her January cabinet shuffle.

The Trudeau government is spending billions of dollars on everything from pharmacare to helping workers learn new job skills to easing the burden on first-time home buyers in its final budget before voters go to the polls in October. The Liberals are sprinkling billions of dollars across a variety of programs meant to help people at every stage of their lives. The biggest-ticket item is nearly four-billion in aid for dairy and poultry farmers impacted by new free-trade deals but there are no details for how or when the money will be doled out to farmers and producers.

Contains files from the Canadian Press

To view the budget: CLICK HERE (You will be redirected)

Photo Credit: Bill Morneau via Twitter

 

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Scott Fox and Kat Callaghan