People walk on Parliament Hill in Ottawa, in a file photo. The Canadian Press/Sean Kilpatrick
Canada’s current fiscal trajectory will lead the federal deficit to grow to $117 billion by 2035, according to a new report.
While the federal government’s latest budget projects a deficit of just $57 billion by 2029, the report by public policy think tank MEI said that increasing elderly benefits, transfers to provinces, and military spending would put the figure much higher.
