Finance Minister Chrystia Freeland is pledging to keep deficits to no larger than 1 per cent of GDP in future years, delivering a new promised limit as to how much the Liberal government is prepared to spend in future years. The target implies maximum annual deficits of around $32-billion when the rule takes effect in the 2026-27 fiscal year. Amid high interest rates and slowing economic growth, the government’s new fiscal anchor serves as a message to investors, the Bank of Canada and even Ms. Freeland’s cabinet colleagues that Ottawa is trying to keep a lid on spending growth. Six highlights from an affordability-focused fall economic statement This leaves relatively little room for addi
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