Canada budget outlines more than C$150 billion in net new spending and C$764.7 billion in borrowing
Prime Minister Mark Carney’s second budget outlines industrial investment and social measures that, together with previously announced policies, bring net new spending to more than C$150 billion over five years. Released by Finance Minister Francois Philippe-Champagne, the document forecasts C$764.7 billion in borrowing over five years and a C$62.3 billion deficit in the current fiscal year. Industrial measures include spending on electricity grids, nuclear plants, mining and forestry.