Article content
“Interest costs rise from a budgeted $22.1 billion in 2021-22 to $35.2 billion, an increase of 59.4%” says the report,
Interest Cost Risks to Government Budgets, by Jason Clemens, Milagros Palacios and Jake Fuss, released Tuesday.
We apologize, but this video has failed to load.
Try refreshing your browser. GOLDSTEIN: Servicing public debt eroding nation s finances report Back to video
The fiscally conservative think tank projects interest payments on public debt will also increase in every province this year except New Brunswick, from a high of 35.7% in Nova Scotia to a low of 3.4% in Quebec.
The Trudeau government argues historically low interest rates mean its massive deficit spending because of the pandemic can be easily financed, noting interest payments on debt are about 1% of the country’s Gross Domestic Product (GDP), compared to a high of 6% in 1995.
GOLDSTEIN: Servicing public debt eroding nation s finances -- report torontosun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from torontosun.com Daily Mail and Mail on Sunday newspapers.
Since the Ontario government imposed the COVID-19 shutdown on Ottawa April 3, Ottawa Bylaw officers have issued 163 tickets for contraventions of Provincial Orders and the Health Protection and Promotion Act.
He called it a “frontal assault” on deficit spending.
He was in panic mode.
What got Martin’s calculator red lining was the net per capital debt hitting a record $19,733.
Today, it is expected to surpass $23,000.
The Trudeau Liberals, however, have fired no civil servants, have not touched corporate taxes, have pulled the plug on no federal agency, and have privatized no Crown corporations.
It’s steady as she sinks.
Blacklock’s Reporter, in fact, quotes Finance Minister Chrystia Freeland, the Liberals’ answer today to Martin, as saying “our budget sets out a prudent and sustainable fiscal path.”
Advertisement
Article content