Canada’s accumulated deficit last year amounted to $685.45 billion, the highest in Canadian history. With all the COVID-19 related emergency spending programs, even the government agrees it will likely balloon to more than a trillion dollars for fiscal year 2020-21. | File photo

What’s next: higher taxes or program cuts?

In an attempt to bridge the economic chaos brought on by the pandemic, Canada has had to take on massive amounts of new debt, largely funded by foreign lenders. Canada’s accumulated deficit last year amounted to $685.45 billion, the highest in Canadian history. With all the COVID-19 related emergency spending programs, even the government agrees […] Read more