![]() ![]() This is likely to leave Canada the envy of the G7 from a net debt perspective, although gross debt should remain middle of the pack. After that, debt as a share of the economy is expected to track lower. Taken together, debt-to-GDP ratio is expected to increase from an estimated 42.4% in the 2022-23 fiscal year to a peak of 43.5% in 2023-24.That said, we believe the economic outlook in Budget 2023 is a reasonable starting point for fiscal planning, although risks remain tilted to the downside. Without these changes, revenues would have been much lower over the forecast horizon, to the tune of more than $11.6B over six years. I would love to move the movement keys to the standard AWSD. Yea I can't move the keyboard further to the left because of space. See if remapping certain keys might help. Alternatively, DOSBox has a keyboard mapper which can be configured. On the revenue side, the lower profile due to a weaker economic outlook is largely offset by tax hikes on high-income earners, financial institutions, and Canadian multinationals. Use the left hand on the mouse and the right hand on the numeric keypad. ![]() Beyond the $22B in new health care spending announced in February, other new measures were more modest, with a focus on improving affordability for vulnerable households. Most of this is related to measures to support the energy transition ($21B in total over 5 years). Program expenses are expected to be $39B higher over the coming five fiscal years than projected in the FES 2022. The larger deficits are entirely the result of more elevated spending.Indeed, the federal government no longer expects to run a surplus at any point over the fiscal planning horizon. After that, deficits are projected to be larger by $12.5B on average annually. In the 2023-24 fiscal year, the $43.0B deficit is now expected to be $6.6B greater than that published back in November of last year. As expected in our Federal Budget 2023 preview note, the Government of Canada plans to run larger deficits than anticipated in the Fall Economic Statement 2022 (FES 2022).
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