OTTAWA — The Liberal party is calling on the federal government to share its latest budgetary projections with the public after a new analysis revealed the country is on course for a deficit in 2015-16.
The parliamentary budget office produced an updated fiscal outlook this week that predicts Canada will run a $1-billion shortfall.
The calculations were based on a downgraded Bank of Canada forecast and raised doubts about the governing Conservatives’ long-held vow to achieve an election-year surplus.
Liberal finance critic Scott Brison has sent a letter to Finance Minister Joe Oliver urging him to unveil his department’s updated forecast before a parliamentary committee following the central bank’s gloomier prediction.
Oliver insisted earlier this week that the Harper government remains on track to produce a budgetary surplus this year — despite the economy’s struggles following the oil-price slide.
The Conservative government tabled a budget in April that projected a $1.4-billion surplus for 2015-16.