The federal deficit is projected at $61.9-B, up from $40-B projected in last year’s budget. Ottawa says a lot of that is comprised of one-time expenses which had to show up in this year’s figures.
The federal government is promising to spend $1.3 billion over six years to beef up Canada’s border security but still won’t say exactly how that money will be spent. The figures are part of the government’s fall economic statement which was tabled in the House of Commons Monday.
The statement contains about $24-B in new spending over the next six years. The most costly item is the $17-B for the Business Investment Incentive.
People who worked last year and earned less than $150,000 net income were promised $250 in April, but that measure is not contained in the statement.
Dominic LeBlanc is the new finance minister.