Recent Deficits in Canada

Here is the record of borrowing, both completed and planned, by the Government of Canada under the present regime up to the end of the present fiscal year.

Deficits 2015-16 to 2019-20:

2015-16 - $5.3 Billion (Present regime took over half way through the 2015-16 fiscal year.)

2016-17 - $29.4 Billion

2017-18 - $29.0 Billion

2018-19 - $22.8 Billion

2019-20 - $17.7 Billion (Planned - election to take place half way through the fiscal year.)

The total will be about $95 Billion added to the debt in four years that the present regime was in charge of federal finances.

The present regime promised deficits of under $10 Billion for the first three years (2016 - 2019), and then that the budget would be balanced by 2019-20.

Assuming a deficit of $10 Billion a year in new debt over the first three years - $30 Billion maximum - the present regime has missed its promised target by about $65 Billion; the debt has been increased by 215% more than was promised. This works out to over $1,800 in new debt for every man, woman and child in Canada. 

The present regime has no plan to balance the budget…ever.