Canadian Deficit for Last Year to Be $800 Million More Than Liberals Predict: PBO

Finance Minister Bill Morneau holds a press conference, prior to the release of the Liberal government’s fourth and final budget before the fall federal election, on March 19, 2019. NTD Television

OTTAWA—Parliament’s spending watchdog says last year’s federal deficit was $800 million more than the Liberals said it was in their most recent budget.

In a new report, the parliamentary budget office says the deficit for the 2018-2019 fiscal year, which ended in March, will end up at $15.7 billion because of lower-than-expected revenues.