Canada's 2024 Federal Economic & Fiscal Update
On Monday, the Canadian federal government unveiled its 2024 Fall Economic Statement (FES). This year’s update came amidst the resignation of senior Liberal Ministers, including the former Deputy Prime Minister and Minister of Finance Chrystia Freeland, as well as Housing Minister Sean Fraser.
The statement reports a record deficit of $61.9B for 2023-24, exceeding the government’s self-imposed guardrail of $40.1B in the 2024 Budget from 8 months ago. It also unveiled $24.2B in new spending over the next 6 years, with over $18B targeted towards clean growth, innovation, and infrastructure-related measures and $1.3B for a border security package.
Read the full analysis and POV on the statement:
