The Liberal government wants Parliament to approve billions in new spending to extend COVID-19 relief, but with the holiday recess scheduled to begin Dec. 17, its report on how it spent over $600 billion in the last fiscal year, which ended March 31, was not provided until Dec. 14. Finance Minister Chrystia Freeland’s April budget estimated that $634.9 billion was spent in fiscal 2020–21, leaving a deficit of $354.2 billion. However, the 402-page first volume of public accounts showed the government spent $608.5 billion in total program expenses and another $20.4 billion servicing public debt, for a rounded total of $628.9 billion. This caused a record deficit of $327.7 billion, which will fetch more interest charges annually until accumulated surpluses equal that amount. Only twice in the past 10 years has the publication of public accounts waited until December. The public accounts, along with associated documents, show the details of …
-
Recent Posts
-
Archives
- May 2025
- April 2025
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- September 2013
- July 2013
- March 2013
- January 2013
- December 2012
- November 2012
- December 1
-
Meta