As Canadians wait to see just what will be in the first federal budget in more than two years, this much is certain: that the amount of red ink will surge past any other deficit records in Canada’s modern history.
What’s less certain is whether Finance Minister Chrystia Freeland plans to put Canada on a path back to fiscal sanity, or if she simply plans a dangerous double-down on sky-high spending.
Canadians are losing billions of dollars because governments are getting in the way of pipeline development.
The Canadian Taxpayers Federation calculated how much extra revenue the federal government would collect if a lack of pipelines didn’t reduce the Canadian price of oil compared to the U.S. price, based on data released by the Office of the Parliamentary Budget Officer.
It’s a big number.