Finance Minister Bill Morneau tabled a fiscal snapshot today that shows the federal government’s deficit is expected to hit $343 billion this year — an eye-popping figure largely attributed to pandemic-related support programs that have pushed federal spending to a level not seen since the Second World War.

The 168-page snapshot offers a short-term economic analysis and a detailed account of what the government has spent already to shore up an economy on life support. It presents little in the way of a long-term plan to return the economy to pre-pandemic normalcy.

Source: Ottawa to post $343B deficit as spending hits levels not seen since Second World War | CBC News