From Global News.

A new analysis of federal finances ahead of Canada’s fall budget suggests the deficit could reach levels not seen in 30 years.

Desjardins estimates the federal deficit will hit nearly $75 billion in this fiscal year, which is $6 billion higher than the Parliamentary Budget Office’s projections.

The financial services firm says Ottawa’s decision to cut income taxes over the summer and drop counter-tariffs on the United States has hurt its fiscal position, adding that while those moves could spur economic growth it won’t be enough to offset foregone tax revenue.

Anne Gaviola takes a closer look at the report and what it means for Canada’s fiscal position.

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