Re-elected Liberals Would Still Run Big Deficits, Despite New Taxes

Liberal Leader Justin Trudeau crosses a street on his way to make a policy announcement in Toronto on Sept. 20, 2019. THE CANADIAN PRESS/Sean Kilpatrick

OTTAWA—Justin Trudeau tried to make virtue out of red ink Sunday as he released a Liberal platform that promises to impose new taxes on wealthy individuals, large international corporations, foreign housing speculators and tech giants to help cover the cost of billions in new spending and tax breaks for the middle class.

Even with the new taxes, the platform projects another four years of deficits if the Liberals are re-elected on Oct. 21—$27.4 billion next year, falling to $21 billion by the fourth year of the mandate.