Dear John,

Canada's federal finances are in rough shape – and the recent election only made matters worse.

A new Fraser Institute study out today shows that per-person federal program (inflation adjusted) spending is expected to reach a minimum of $13,032 in 2021-22. That's 34.8% higher than in 2019, pre-COVID.

And proposed spending promises made by the Liberals and the NDP (the Liberals’ likely governing partner) in the recent election would push this number even higher!

These levels of per person spending are unprecedented in Canadian history.

Dig into the numbers – if you dare – by checking out the full study here.

Stay safe,

Niels Veldhuis
President