Canadian News

Trudeau gov’t gives itself permission to borrow $635 billion this year

Justin Trudeau’s Liberal government has approved its own request to borrow $635,000,000,000 for the fiscal year 2021-2022.

The news release states, in part:

For 2021-2022, an annual borrowing authority of $635 billion is required in order for the federal government to support Canadians and meet anticipated financial needs.

Canada currently holds more than $1,097,449,000,000 in federal debt.

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