DEFICIT ISSUES FOR THE 2019 ELECTION

At the start of the 2019 election campaign, most political commenters did not see the “deficit” becoming a major issue in the election. The reality is that the federal government has neither a deficit nor debt problem. According to the just released Annual Financial Report  (AFR), the deficit for 2018-19 was $14 billion or just 0.7% of GDP. The debt-to-GDP ratio is the lowest among G-7 countries. 

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Fiscal Monitor for April – May 2019


For the first two months of fiscal year 2019-20, the federal government posted a deficit of $1.4 billion compared to a surplus of $3.2 billion for the same two months of 2018-19.

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Fiscal Monitor for April 2018– March 2019


The federal government posted a deficit of $14.9 billion in March 2019, compared to a deficit of $10.8 billion in March 2018. 

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Fiscal Monitor for April 2018– February 2019 The final deficit for 2018-19 could be $2 to $3 billion lower than forecast in the March 2019 Budget.


The federal government posted a surplus of $4.3 billion in February 2019, compared to a surplus of $2.8 billion in February 2018. 

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“TINY” DEFICIT NO BIG DEAL


The 2018 Economic and Fiscal together with Budget 2019 represent the beginning of the 2019 Liberal election platform. It is also the beginning of a major headache for the “deficit elimination” Conservatives. The Harper government, after all, failed to eliminate the deficit over eight years, despite cutting spending in successive budgets. What would Mr. Sheer do to eliminate the deficit that the Harper government hasn’t already done?

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Fiscal Monitor for April 2018– January 2019


The federal government posted a deficit of $1.7 billion in January 2019, compared to a surplus of $125 million in January 2018. 

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