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Canadian budget projections

  • Sees this year’s deficit at $14.9B compared to $18.1B prior
  • 2020 budget at $19.8B vs $19.6B prior
  • Each year includes a $3B contingency
  • Assumes 1.8% growth in GDP in 2019
  • Assumes 1.6% GDP growth in 2020

Canada uses the average of private sector forecasts for its budget forecasts, not its own forecasts. It’s a tradition that’s been around awhile to limit political interference.

I though they might go for a larger deficit but they must think that current deficits are the limit of what they can do to win the Fall election.

Budget measures:

  • Canada to limit benefit of employee stock-option deductions for high-income earners
  • Introduces first-time home buyer incentive

The incentive will offer some large incentives on mortgage costs. That sounds like a big boost for the housing market but details are still sketchy.

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