Tax cuts, dropping U.S. tariffs will hurt Canada’s fiscal position: Desjardins

New analysis of federal finances ahead of the much-anticipated fall budget suggests Canada’s fiscal position was made worse by its decision to drop U.S. counter-tariffs and cut income taxes. Desjardins Group estimates the upcoming federal budget on Nov. 4 will show deficits at a level not seen in 30 years, driven by higher spending and lower revenues, according to a report released Wednesday.