The federal government says the 2023-24 spike is due to one-time costs, including $16.4 billion related to Indigenous claims playing out in court and $4.7 billion related to the COVID-19 pandemic. The deficit is projected to dip down to $48.3 billion for this current fiscal year.
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I’m curious what changes are being planned. I didn’t see any other mentions of it when googling around.
This is what I was able to find. Haven’t had a chance to go through it but I can only hope the details are somewhere in the document.
https://budget.canada.ca/update-miseajour/2024/report-rapport/toc-tdm-en.html
Chapter 3 has a section on financial crime and money laundering, but I don’t have the background to know whether it would be effective.
US runs trillions in debt and even if for a second we assume US is 100x size of Canada, we’re still better off proportionally. Everybody, exhale. 😃