FP MagazineAll FP MagazineCEO of the YearWe have already heard that Canada deficit will likely hit a record this year, but now one think tank is warning that the federal net debt is headed for the inconceivable level of $1 trillion. Howe Institute said in a note this week that however necessary Ottawa aid may have been on the way into this crisis,, is becoming clear that we cannot afford this level of spending for as long as the coronavirus may be with us. Parliamentary Budget Officer said last month that the nation budget deficit will swell to $252.1 billion in 2020 21, the largest on record as a share of the economy since at least the mid 1960s.
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