Like a garden gnome wearing 4″ heels.
An “outsized pace of spending” means Canada is on course to run a budget shortfall of about $47 billion for the fiscal year that ends March 31, according to estimates released Thursday by Desjardins.
The projection raises more questions about how Finance Minister Chrystia Freeland will meet her pledge to keep the country’s budget shortfall at around $40 billion a year from now until 2026.
“I think it’s going to be an exercise in creative accounting,” Randall Bartlett, Desjardins’ senior director of Canadian economics, who wrote the research note, said in an interview. “They either need to cut spending or increase revenues to make this work.”
A chorus of analysts and economists is warning that without tax increases or spending reductions, deficits are likely to rise amid slow economic growth.
At least they’re getting Canadians into homes, er… pods.