Ottawa wrote off $2.6 billion last year that it wouldn’t collect from the automaker.
Burden falls on the whole population, and low-income Canadians can least afford to contribute.
Increasing the size and role of government comes with larger deficits, mounting debt and/or tax increases.
One expert says credit ratings can be misleading.
Feds are on pace to post a $19.4-billion deficit in 2018-19, $1.3 billion higher than the projection in last February’s budget.
The target number would mean a 24% drop from the roughly 52,400 immigrants Quebec accepted last year.
Household debt has been identified as key vulnerability.
Canadian Payroll Association survey has mixed findings.
Spending plan will add about $70 billion to the net debt, increasing it to almost $400 billion in 2020-21.
Liberals will post a $22.1-billion shortfall this fiscal year, $4 billion more than $18.1 billion projection.
Porter says IMF should look at the “other side of the balance sheet” which has kept pace or outgrown the size of the debt.
Average amount of personal debt increased 3.3% to $22,837 per person, not including mortgages.
Based on accumulation outside world wars or economic recessions.
Net debt will balloon from $9.5 billion to $44 billion by 2020.
The gap is narrowing as net per-person debt converges with Ontario’s.