Budget Won’t Balance Until 2070 | July 24, 2021
“The Canadian Taxpayers Federation (CTF) is calling on federal politicians to save taxpayer dollars as Parliamentary Budget Officer data predicts the federal government won’t balance its budget until 2070.
When running for prime minister in the 2015 election, Trudeau promised Canadians he would balance the budget in 2019. The federal deficit in 2021 is expected to total $140.645 billion and decline significantly to $24.997 billion in 2024. After the fact, the deficit increases considerably in 2029 from $39.844 billion to $55.324 billion and continues to grow gradually until 2046 to $75.951 billion. It will take until 2070 to see a balanced budget, where the federal government incurs a $5.117 billion surplus.”
