By Fraser Institute ——Bio and Archives--May 17, 2016
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a) the rate of population growth plus inflation, which would stabilize per-person federal spending from 2017/18 onwards; b) the rate of economic growth which would stabilize spending as a share of the economy from 2017/18 onwards, and c) 6.0 per cent annually (the average growth rate in spending during the first two years of the five-year budget plan) from 2017/18.If the government simply maintains per capita program spending levels, the five-year deficit will reach $136.5 billion, $23.3 billion more than currently budgeted. If, on the other hand, program spending in the future increases at 6 per cent (rather than the budgeted 2 per cent) the deficit for the five-year period will reach $196.0 billion. “Under every reasonable scenario, the cumulative federal deficit over the next five years will be substantially higher than the $113.2 billion currently planned,” concluded Veldhuis. MEDIA CONTACT: For media interviews with Mr. Veldhuis, please contact: Aanand Radia, Media Relations Specialist E-mail: aanand.radia@fraserinstitute.org Katie White, Director, Strategic Communications E-mail: katie.white@fraserinstitute.org
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The Fraser Institute is an independent Canadian public policy research and educational organization with offices in Vancouver, Calgary, Toronto, and Montreal and ties to a global network of 86 think-tanks. Its mission is to measure, study, and communicate the impact of competitive markets and government intervention on the welfare of individuals. To protect the Institute’s independence, it does not accept grants from governments or contracts for research. Visit fraserinstitute.org.
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