Bleaker outlook for Canadian economy amid higher interest rates doesn't bode well for federal finances, says economist. Read more
and others were predicting just months ago, the bleaker outlook threatens to hit not only Canadians in their pocketbook — but their government as well.
Bartlett said two things stood out in July’s Fiscal Monitor, the monthly accounting of federal finances. Revenues were coming in at half the pace expected in the government’s 2023 Budget, as corporate income and sales taxes fell, and program expenses were growing at double the pace because of higher operating expenses and other transfer payments.“Taken together, federal finances are tracking a worse annual outcome than at this time last year,” said Bartlett.
Dejardins’ analysis figures the government still has a cushion of about $13 billion a year while keeping the debt-to-GDP ratio from rising, but that doesn’t account for other recently announced measures.A welcome email is on its way. If you don't see it, please check your junk folder.repayment of the Canada Emergency Business AccountThe solution, he says, is restraint, even to the extent of cutting staff in the public service if savings cannot be found elsewhere.
Capital sees values of office buildings in this city weakened by a shrinking tech sector dropping more than 50 per cent from the peak at the end of 2019 to the trough from 2024 to 2026.
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