Finance Minister Bill Morneau’s budget Tuesday resembled Liberal economic plans that preceded it: the government will exhaust a big windfall, run near-term deficits of about $20 billion and offer no timeline to return to balance. The government also said it’s booked another $4 billion in spending since the fall update. The Liberals’ plan places them in stark contrast with the Opposition Conservatives, who have called on the government to rein in spending. A big question is what will become of the Liberal spending plan — and how big the shortfalls will grow — when Canada is hit by the next economic downturn. New Democrat Leader Jagmeet Singh said the budget didn’t go far enough on universal pharmacare, skills training and pensions.

Source: thestar March 19, 2019 20:22 UTC