Update shows on track, but $1.5 million in gains are offset by an extra $2.6 billion in spending.
Brings government closer to presenting a balanced budget this spring.
Provincial government had projected $4.3 billion in last year’s budget.
Trump made America’s large trade deficits a central part of his election campaign.
But the province adds 25,000 jobs in the last three months, manufacturing shipments increase.
Shortfall blamed on a combination of lower revenue and higher program spending.
Accounting dispute with the auditor general is adding $2.2 billion to the province’s deficit this fiscal year.
Finance minister Morneau blames “new norm” of slow economic growth.
Cumulative deficit is likely to be $16.5 billion higher than forecasted in the last budget over a five-year span.
Down from a surplus of $5 billion in the same period last year.
Province revises projected deficit to $11 billion.
The federal government’s planned $30-billion budget deficit, to be followed by three more deficits totalling $113 billion, brings to mind former US Secretary of State Henry Kissinger’s observation: “It’s not often that nations learn from the past, even rarer that…
Fiscal monitor suggests feds would have to run $13-billion deficit in March to reach a predicted $5.4-billion shortfall.
Measures to cut government spending and raise cash are expected to cost average families $3,000 in new taxes.
Red ink projected over the next five years tops $113.2 billion.