Canadian Prime Minister Mark Carney is promising to run deeper deficits to cut income taxes and grow spending on infrastructure to reduce the country’s dependence on the US. Carney’s plan would push the federal government’s shortfall to C$62.3 billion (US$45 billion) this financial year and add C$129.2 billion (US$93.3 billion) in net new spending over … Read more
A no-confidence vote triggered by a dispute over the French budget has led to the collapse of the country’s government. Camilla Locatelli writes that France’s fiscal challenges offer important lessons for the rest of Europe. On 4 December, the French government collapsed after Prime Minister Michel Barnier lost a vote of no confidence. The vote … Read more
The United States on Friday, October 18 reported a budget deficit of $1.8 trillion for the past year, widening from 2023’s level on greater spending, including for interest on the public debt. The overall deficit expanded by $138 billion for the year ending September 30, said the Treasury Department. The nation’s debt remains a key … Read more