Canada’s deficit in 2020-2921 will hit a spectacular $343 billion with federal spending expected to exceed $1 trillion this year. The federal ball-and-chain is a result of spending this year to battle hardship caused by COVID-19. The numbers were revealed Wednesday by Finance Minister Bill Morneau (Toronto Centre).
#Breaking: Morneau projects $343.2-billion deficit; federal debt to climb above $1-trillion https://t.co/Vbq6aKUsjB
— The Globe and Mail (@globeandmail) July 8, 2020
"The federal government is forecasting a deficit of $343.2-billion this year due to a sharp decline in tax revenue and massive emergency spending in response to the coronavirus pandemic." @globeandmail #cdnecon #cdnpoli #economicrecoveryhttps://t.co/GDHjxPscyJ
— BusinessCouncilBC (@BizCouncilBC) July 8, 2020
.@Bill_Morneau nearly 9 out of $10 in #COVID19 related direct support…is financed by the ??Can Govt
Thanks to our rapid & substantial investments, unemployment will be lower, consumer spending will be higher & our economy will recover sooner, then had we done nothing. #Cdnpoli https://t.co/Ol0JMt91u0 pic.twitter.com/6ZwOQaD2Zp
— Jaro Giesbrecht?? (@JaroGiesbrecht) July 8, 2020
