- Compared to $31B forecast in Nov
- Private forecasts suggested a number between $C20-$30 billion
- Budget assumes 2.1% growth, 2.5% inflation in 2012
- 2.4% GDP and 2% inflation in 2013
- Projects debt-to-GDP of 28.5% in 2016-17 vs 33.9% now
- Balanced budget forecast in 2015-06
- Forecasts approx C$97 billion in debt issuance in new fiscal year, as expected
- No mention of new rules on mortgages
- Spending cuts of $21 billion over five years, slightly below expectations
- Spending to be cut by C$5.2B in each of next three years
- 12,000 Federal jobs to be cut over 3 years
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