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Tax cuts hurt Ottawa’s fiscal position: report

A new analysis of federal finances ahead of the much-anticipated fall budget argues Ottawa’s fiscal position was made worse by its decision to drop counter-tariffs and cut income taxes.

Desjardins deputy chief economist Randall Bartlett says in a new outlook published ahead of the Nov. 4 federal budget that Ottawa’s deficit is likely to be among the largest in recent memory outside of a recession or pandemic.

He estimates the federal deficit will hit $74.5 billion for this fiscal year, $6 billion higher than the parliamentary budget officer’s projections.

Bartlett says higher spending on defence and infrastructure will push the federal government’s def

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