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| Canada's Liberals budget for deficit three times higher than they promised Canada's Liberals budget for deficit three times higher than they promised | |
| (8 days later) | |
| The new Liberal government of the Canadian prime minister, Justin Trudeau, has projected a federal deficit almost three times the size it promised during last year’s election. | The new Liberal government of the Canadian prime minister, Justin Trudeau, has projected a federal deficit almost three times the size it promised during last year’s election. |
| The finance minister, Bill Morneau, predicted there will be a C$29.4bn ($22.5bn) deficit this year and made no mention of returning to a balanced budget. Trudeau had promised a C$10bn deficit during the election. | The finance minister, Bill Morneau, predicted there will be a C$29.4bn ($22.5bn) deficit this year and made no mention of returning to a balanced budget. Trudeau had promised a C$10bn deficit during the election. |
| The budget includes more than C$2.6bn over five years for education on aboriginal reserves, plus nearly $1bn over five years for education infrastructure. The government also promised millions for Canada’s public broadcaster. | The budget includes more than C$2.6bn over five years for education on aboriginal reserves, plus nearly $1bn over five years for education infrastructure. The government also promised millions for Canada’s public broadcaster. |
| It also provides C$5.6bn more in benefits to veterans and their families over five years, but delays indefinitely a plan to spend billions more on procuring badly needed military ships, planes and vehicles. The promised re-equipping of the Canadian military has essentially been postponed until after the next election. | It also provides C$5.6bn more in benefits to veterans and their families over five years, but delays indefinitely a plan to spend billions more on procuring badly needed military ships, planes and vehicles. The promised re-equipping of the Canadian military has essentially been postponed until after the next election. |
| Canada’s oil-rich economy has slowed as the price of crude as plummeted. The government assumes an oil price of $40 a barrel this year. | Canada’s oil-rich economy has slowed as the price of crude as plummeted. The government assumes an oil price of $40 a barrel this year. |
| The budget made no mention of a bailout for plane and train maker Bombardier, although a bailout package has been much discussed in parliament and remains widely expected. The aerospace giant is seeking C$1bn in federal support. | The budget made no mention of a bailout for plane and train maker Bombardier, although a bailout package has been much discussed in parliament and remains widely expected. The aerospace giant is seeking C$1bn in federal support. |