Canada budget outlines more than C$150 billion in net new spending over five years
Prime Minister Mark Carney’s second budget outlines industrial investment and social measures, bringing net new spending, including previously announced policies, to more than C$150 billion over five years. Released Thursday by Finance Minister Francois Philippe-Champagne, the budget forecasts C$764.7 billion in borrowing over five years and a C$62.3 billion deficit for the current fiscal year, about 1.8% of GDP.