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Federal fiscal policies ‘sustainable’ over long term, says new PBO report

By Marco Vigliotti      

The PBO's projections showed that the federal government could increase spending or cut taxes annually by roughly $13-billion, or 0.6-0.7 per cent of the GDP, over the next 37 years and still maintain fiscal sustainability.

A new report from the Officer of the Parliamentary Budget Officer, headed by Jean-Denis Fréchette, pictured, projects that the federal government could increase spending or cut taxes annually by roughly $13 billion dollars, or 0.6-0.7 per cent of the GDP, over the next 37 years and still maintain fiscal sustainability. The Hill Times photograph by Andrew Meade
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Parliament’s fiscal watchdog is giving a major vote of confidence in the Trudeau government’s spending and taxation plans. In a new report released Tuesday, the Parliamentary Budget Officer Jean-Denis Fréchette concluded that current federal fiscal policies are “sustainable” over the long term, pointing to new projections showing the deficit plummeting from 30 per cent of the country’s GDP in 2022 to only 6.5 per cent in 2055. The PBO's projections also showed that the federal government could increase

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