CP NewsAlert: PM Carney to meet Poilievre today to discuss budget, Conservatives say

OTTAWA — Prime Minister Mark Carney will meet privately with Conservative Leader Pierre Poilievre at 4:30 p.m. ET today to discuss the coming federal budget, the Conservatives say, as Ottawa’s deficit is likely to be among the largest in recent memory outside of a recession or pandemic.

A new analysis of federal finances ahead of the much-anticipated fall budget argues Ottawa’s fiscal position was made worse by its decision to drop counter-tariffs and cut income taxes.

Desjardins deputy chief economist Randall Bartlett says in a new outlook published ahead of the Nov. 4 federal budget that Ottawa’s deficit is likely to be among the largest in recent memory outside of a recession or pandemic.

He estimates the federal deficit will hit $74.5 billion for this fiscal year, $6 billion higher than the parliamentary budget officer’s projections.