Election promises and massive defence spending increases promised by Prime Minister Mark Carney at a NATO summit last month will fuel huge annual federal budget deficits averaging more than $77-billion a year, a new report predicts.
A fiscal forecast released by the C.D. Howe Institute Thursday said the combined cost of Liberal Party election platform pledges, plus a June 25 commitment by Canada to boost military expenditures by as much as $90-billion each year, will drive Ottawa deeper into the red.
