OTTAWA, Ontario – Canadian Prime Minister Justin Trudeau's new Liberal government projects a federal deficit almost three times the size it promised during last year's election.
Finance Minister Bill Morneau projected Tuesday there will be a $29.4 billion Canadian deficit (US$22.4 billion) this year and made no mention of returning to a balanced budget. Trudeau had promised a $10 billion Canadian (US$7.6 billion) deficit during the election.
The budget includes more than $2.6 billion Canadian (US$2 billion) over five years for education on aboriginal reserves, plus nearly $1 billion over five years for education infrastructure.
It also provides $5.6 billion Canadian (US$4.3 billion) 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.