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Carney’s Budget Faces Criticism for Limited ImpactThe plan includes C$280 billion for infrastructure but projects a C$78 billion deficit next fiscal year, double last year’s amount.
Key Facts5 days ago · Reading time: ~45 sec.
Summary created with AI assistance · Source: reuters.com
Summary created with AI assistance · Source: reuters.com
- Prime Minister Mark Carney’s first budget allocates C$280 billion to infrastructure and aims to cut C$60 billion in spending.
- The minority government must rely on the New Democratic Party to secure budget approval.
- Experts argue the budget lacks the ambition needed to significantly transform Canada’s economy.
- The projected deficit of C$78 billion next year exceeds twice the size of last year’s deficit.
If you're looking to transform the economy, this budget is not going to do it.— Theo Argitis, senior vice president for policy at the Business Council of Canada, criticized Prime Minister Mark Carney's budget.
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