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Trudeau government to post $30B deficit in federal budget, forgo additional stimulus, sources say

Finance Minister Bill Morneau answers a question during Question Period in the House of Commons on Parliament Hill in Ottawa.

Prime Minister Justin Trudeau will post a deficit of approximately $30 billion in the first budget in a few days, signalling he won’t unveil additional initiatives to kick-start the economy, government officials said.

The budget, to be sold March 22 by Finance Minister Bill Morneau, will mainly comprise pledges made during and also, since last year’s election, two governmental officials said on condition they not be identified since the plans aren’t yet public.

A $30 billion deficit would be triple what Trudeau campaigned on. However it’s in line with an announcement last month that pegged the baseline deficit at roughly $18.4 billion, before $10.5 billion in campaign spending pledged for the fiscal year that starts April 1.

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