An Election Like No Other Promises to Damage Canada’s Finances
Donald Trump has threatened not only Canada’s economy but its sovereignty, repeatedly taunting it as a future 51st state.
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Canada’s fiscal position is set to worsen as the country’s two leading political parties vie to win an election by promising tax cuts and measures to protect industries from US President Donald Trump’s tariff barrage.
Canada projected a C$42.2 billion ($30.5 billion) deficit for this fiscal year, about 1.3% of the country’s gross domestic product. But the fiscal and borrowing picture is getting muddier, with campaign pledges tallying in the tens of billions of dollars each from Conservative Leader Pierre Poilievre and Mark Carney, the Liberal leader and prime minister.