Government debt reaches $1.45 trillion: Parliamentary Budget Office

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Discussion posted by: David McNamara

According to the Parliamentary Budget Office (PBO), Canada has $1.45 trillion worth of debt under Justin Trudeau’s watch. According to the PBO’s estimates, federal debt is expected to reach $1.6 trillion by 2023. Estimates do not include new spending proposed since the beginning of this month, Crown corporation borrowing or pension liabilities. “Should parliamentarians support extending temporary measures or introduce new response measures, program spending could rise significantly above the Budget Office’s baseline projection,” claimed the report titled Economic and Fiscal Outlook September 2020.