A new report suggests Prime Minister Justin Trudeau will spend more on government programs than any other prime minister in Canadian history.
The Trudeau government will spend about $8,600 per Canadian on programming this year, the highest since the Great Recession.
The report, created by the Fraser Institute, details how much each prime minister spent during their tenure. Unequivocally, it reveals Trudeau is set to be Canada’s costliest prime minister.
The Trudeau government has increased government program spending by an average of 3.1 percent per year, the highest of any government since his father over 35 years ago.
That means this year will be the second most expensive year ever, second only to 2008– a time of financial crisis.
The Fraser Institute alludes to the fact that some prime ministers raised spending in response to extreme hardship or need, but Justin Trudeau is not one of them.
Since the time Justin Trudeau claimed that “the budget will balance itself,” the Trudeau government has been marked by big deficits and big spending.
It should be no surprise to Canadians that the budget did not balance itself. The deficit for the current financial year is expected to be $18.1 billion, and the national debt is pegged to rise by nearly $100 billion over the next five years.
By 2024, the national debt is estimated to be at least $765 billion.
Decreasing the deficit is not a priority for the current government. Instead, issues like gender equality and climate change have taken precedence.
Finance Canada officially predicts the deficits will continue until 2045, more than a generation after Trudeau was elected.
Finance Minister Bill Morneau says the government’s current plan will keep the economy “strong and growing.”
Difficulties in the energy sector and high government borrowing indicate otherwise.