A letter from the Department of Finance Canada says budget forecasts are a “modelling scenario” subject to change, and “should not be viewed as a prediction of the future.”
The statements were made in a letter to the Parliamentary Budget Office (PBO) and followed the federal cabinet raising its debt to GDP ratio, despite previous promises from Finance Minister Chrystia Freeland that there was “a line we will not cross.”
“The long term debt to GDP ratio projection presented in this budget is subject to a high degree of uncertainty and is sensitive to assumptions,” Assistant Deputy Finance Minister Julie Turcotte wrote the Budget Office, according to Blacklock’s Reporter on July 11. “As such it should not be viewed as a prediction of the future.”…