PBO: FEDERAL DEFICIT ON TRACK TO NEARLY HIT $330B

Canada is on the way to having a deficit of $328.5-billion this year because of COVID-19.
The parliamentary budget office says that reflects measures announced at the start of September, including an estimated $225.9-billion in related emergency aid.
The deficit amounts to 15% of the country Gross Domestic Product, making it the largest over more than 50 years of comparable data.
In July the Trudeau Liberals said it would be $343.2-billion but that did not include new possible spending or measures coming in under budget.
Most of the spending’s expected to be temporary as Budget officer Yves Giroux says the deficit will fall to around $73.8-billion next year and continue to fall in fiscal years to come.