Canada’s current deficit level will be ‘unsustainable’ within 1 to 2 years: PBO

DM

The federal government has no more than one or two years to rein in the hundreds of billions of dollars in deficits it is wracking up through coronavirus spending, or risk the debt being “unsustainable.” That’s according to parliamentary budget officer Yves Giroux, who spoke with The West Block‘s Mercedes Stephenson about the federal government’s spending ahead of a throne speech on Sept. 23, which Prime Minister Justin Trudeau has said will pitch “ambitious” new programs. “It’s without a doubt that we cannot afford deficits of over $300 billion for more than just a few years,” said Giroux. “And when I say a few years, I really mean a year or two. Beyond that, it would become unsustainable.

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