OTTAWA — The new Liberal government is suggesting it will have to make adjustments to fulfil its budgetary election vows after it inherited a "bare cupboard" from the Conservatives.
Treasury Board President Scott Brison says he's not surprised the Harper government left behind little fiscal capacity.
He says the Conservatives based their $1.4-billion, 2015-16 surplus projection on one-time asset sales and optimistic growth forecasts.
Brison's comments come after the federal budget watchdog warned that weakening economic conditions could drive Canada into deeper deficits starting next year.
The Liberals made election pledges to keep budget deficits at no more than $10 billion a year over the next two years and still balance the books before the next election.
The party won a majority mandate last month after promising to launch big spending plans for projects like infrastructure — which the party says will stimulate the economy and create jobs.
The Canadian Press