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ICBA ECONOMICS: PERSPECTIVE ON BUDGET 2025
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ICBA ECONOMICS: PERSPECTIVE ON BUDGET 2025
JOCK FINLAYSON QUICK SUMMARY: Deficits up, debt rising: 2025-26 deficit swells to $78B (vs. $42B forecast), with $55–65B annual shortfalls ahead; debt climbs to $1.53T (~43% of GDP) by 2028–29 despite an “operating vs. capital” split that still means heavy borrowing. Some supply-side moves, not a reset: New tax incentives, a Major Projects Office, Bill C-5 fast-tracks “national interest” projects and trims red tape – but no broad business tax c…
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