Finance Minister Bill Morneau revealed today that the federal government will carry a much higher deficit than first expected.
He made the announcement at a campaign-style town hall event this morning, and says the deficit will be $18.4 billion next year, and $15.5 billion for the 2017-2018 fiscal year.
Morneau says the downturn in the economy is to blame.
He also announced the Liberal government’ will hand down its budget on March 22nd.
