fiscal update

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Just six months into its 2018/19 plan, the government upped spending by $8 billion.

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Reports in advance of Ottawa’s federal fiscal update suggest the deficit may reach $34 billion.

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After federal Finance Minister Jim Flaherty unveiled his latest financial plan Tuesday, much of the media hype centred on the government’s larger than expected surplus in 2015-16. Early chatter seemed to accept the government will deliver as promised and some declared its “conservative assumptions” might allow for the deficit to be eliminated even earlier.