Tag: deficit

The parliamentary budget officer says in a new report that this year’s federal deficit could hit $256 billion due to the COVID-19 pandemic.The parliamentary budget officer estimates the Canadian economy could shrink by 6.8 per cent in 2020, the weakest showing since 1981. (Justin Tang/Canadian Press)The parliamentary budget officer says in a new report that…

Parliament’s spending watchdog says the estimated deficit for the year has likely risen to about $260 billion, leaving the government with little fiscal firepower to stimulate an economic rebound. Parliamentary Budget Officer Yves Giroux said the last time the PBO looked at basic income, it estimated the federal cost at between $76 billion and $86 billion…