The Globe and Mail reports in its Tuesday edition that the Liberal government's fall economic update -- which was tabled just hours after Finance Minister Chrystia Freeland's surprise resignation from cabinet -- shows Ottawa overshot its self-imposed deficit cap by more than $20-billion. The Globe's Bill Curry writes that Ms. Freeland pledged last year that she would keep the deficit at or below $40.1-billion, but the update tabled Monday puts the figure at $61.9-billion for the fiscal year that ended March 31. The government says most of this overshoot is because of one-time costs tied to booking contingent liabilities for settling various indigenous legal claims. For the current 2024-25 fiscal year, the update projects a $48.3-billion deficit. Ms. Freeland's update shows the size of the annual deficit declining each year through to the 2029-30 fiscal year. However, the total deficit revisions add up to more than $45-billion in additional deficit spending over the six fiscal years ending in 2028-29. Bank of Nova Scotia economist Rebekah Young said she has questions about the large revision to last year's deficit tied to indigenous liabilities. "I'm surprised that they hadn't anticipated that," she said.