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GROWTH OF DEBT PER DAY. Government Debt in Canada averaged 315.18 CAD Billion from 1962 until 2019, reaching an all time high of 685.45 CAD Billion in 2019 and a record low of 14.83 CAD Billion in 1962. If you don't see it please check your junk folder.The next issue of Top Stories Newsletter will soon be in your inbox.We encountered an issue signing you up. “We can’t afford to miss it because this window of opportunity won’t be open for long.”The Liberal government is expected to post a $343 billion deficit in 2021, not including another $37 billion in spending announced last week, which will introduce three new benefits programs for workers, and relax employment insurance rules to allow more Canadians to apply for financial aid.Sign up to receive the daily top stories from the National Post, a division of Postmedia Network Inc.There was an error, please provide a valid email address.A welcome email is on its way. Employee compensation fell by 8.9 per cent, the steepest drop ever recorded, as workers were laid off, furloughed, or had their hours slashed.The Trudeau government seems poised to continue its spending binge, after the prime minister suggested his government would return to Parliament in September with “ambitious” spending plans that are expected to significantly expand the social safety net.“This is our moment to change the future for the better,” Trudeau told reporters last week.
But emergency pandemic spending since March has completely uprooted that norm.The Canada Emergency Response Benefit (CERB), accounted for the single-largest expenditure over the quarter, at $41.6 billion. Comments may take up to an hour for moderation before appearing on the site. The staggering deficit comes as new numbers shows the Canadian economy shrinking by a record-high 38 per cent in the same periodOTTAWA — The federal government ran a $120-billion deficit between April and June, as Prime Minister Justin Trudeau continued to extend financial aid to people and businesses during the COVID-19 pandemic.The staggering deficit comes as Statistics Canada posted new economic numbers on Friday, which showed the Canadian economy shrinking by a record-high 38 per cent over the same three-month period.The new economic and fiscal data underscores the immense challenge facing the Trudeau Liberals during the pandemic, who are facing calls to both reorient Canada’s fiscal position while also ensuring struggling families and businesses get the supports they need.According to new data released by Finance Canada on Friday, Ottawa ran a $33-billion deficit in the month of June alone — far more than the $28 billion deficit it was projected to post for the entire 2020-21 fiscal year. How well did Canada’s most recent major prime ministers do as stewards of Canada’s economic welfare? Prime Minister Justin Trudeau looks on as Deputy Prime Minister and Finance Minister Chrystia Freeland responds to a question during a news conference on Parliament Hill in Ottawa, Tuesday, Aug. 18, 2020. We ask you to keep your comments relevant and respectful. Newly elected Conservative Leader Erin O’Toole “presents a new dynamic,” the agency wrote, noting his leadership platform included a pledge to balance the budget.“Regardless of which party is in power after 2020, the government faces deep fiscal and economic policy challenges and risks,” the Fitch note says.The government has had to sharply ramp up spending since March when the pandemic swept into Canada, forcing the closure of businesses and workers ordered to stay home to slow the spread of COVID-19.Those restrictions have since been rolled back, and economic output grew in May as a result.On Friday, Statistics Canada will release gross domestic product readings for June and the second quarter of 2020. WHAT WAS THE DEBT ON... FIND THE DEBT Canada's Federal Debt today. Prime Minister Justin Trudeau looks on as Deputy Prime Minister and Finance Minister Chrystia Freeland responds to a question during a news conference on … Canadian government bond yields eased across the curve in sympathy with U.S. Treasuries, with the 10-year down 2.2 basis points at 0.562%. Visit our © 2020 Financial Post, a division of Postmedia Network Inc. All rights reserved. The latest federal figures show spending on the CERB surpassed $70 billion by the middle of this month.New spending measures are expected this fall when the government updates spending plans. Read more about This advertisement has not loaded yet, but your article continues below.This advertisement has not loaded yet, but your article continues below.This advertisement has not loaded yet, but your article continues below.Ottawa runs $120B deficit in just three months as Canadian economy cratersCanadian Prime Minister Justin Trudeau makes an announcement at Yorkwoods Public School in Toronto, Ont. Stay Updated Sign the petition.

Canadian Prime Minister Justin Trudeau makes an announcement at Yorkwoods Public School in Toronto, Ont. Read more: Canadians’ household debt … Your Share today. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Please try againPostmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. We ask you to keep your comments relevant and respectful. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments.


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