Maybe they just forgot to carry the one..
Fiscal update erases projected surplus, as government books now expect $3B budget deficit
The new Liberal government has gone over the books and says it is likely inheriting lots of red ink.
The last Conservative budget forecasted a $2.3-billion surplus for this year, but Finance Canada now says it's more likely the year will end with a $3-billion deficit — and that's before Liberal campaign promises are costed in.
As the oil shock rolled through the country, business investment plummeted, shrinking the economy in the first half and dampening growth in the second half.
Finance Canada still predicts the economy will eke out growth in 2015 — but only at an average of 1.2 per cent. The April budget by the Conservatives had predicted two per cent growth for the year.
"The simple truth is that the economy has not performed as well as projected in the last budget," Finance Minister Bill Morneau told a news conference Friday morning in Ottawa. "Despite the economic situation we've inherited … we have a plan to deal with it."
Fiscal update erases projected surplus, as government books now expect $3B budget deficit - Business - CBC News
Fiscal update erases projected surplus, as government books now expect $3B budget deficit
The new Liberal government has gone over the books and says it is likely inheriting lots of red ink.
The last Conservative budget forecasted a $2.3-billion surplus for this year, but Finance Canada now says it's more likely the year will end with a $3-billion deficit — and that's before Liberal campaign promises are costed in.
As the oil shock rolled through the country, business investment plummeted, shrinking the economy in the first half and dampening growth in the second half.
Finance Canada still predicts the economy will eke out growth in 2015 — but only at an average of 1.2 per cent. The April budget by the Conservatives had predicted two per cent growth for the year.
"The simple truth is that the economy has not performed as well as projected in the last budget," Finance Minister Bill Morneau told a news conference Friday morning in Ottawa. "Despite the economic situation we've inherited … we have a plan to deal with it."
Fiscal update erases projected surplus, as government books now expect $3B budget deficit - Business - CBC News
