Liberals’ fiscal snapshot projects $343B deficit, two million unemployed

The federal deficit is on track to hit more than $343 billion this year, due to the economic impact of the COVID-19 pandemic.

Finance Minister Bill Morneau delivered a grim economic forecast to Canadians on Wednesday in a “fiscal snapshot.”

It lays out the government’s expectation of a slow return to a new normal with high unemployment and low growth expected through at least the end of 2021.

Matt Ingram has the details.