Canada’s fiscal snapshot predicts $343 billion deficit as Liberals offer little intention to curb spending

OTTAWA — The federal government expects to post a $343-billion deficit in 2021 as COVID-19 spending continues to mount, outpacing earlier estimates and reinforcing the depths of Ottawa’s weakened fiscal position.

In his fiscal update on Wednesday, Finance Minister Bill Morneau indicated that total government spending would balloon to $612 billion by 2021, nearly double the $346 billion spent in 2019.

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