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Liberals write off 6.3 billion in loans as part of money never to be collected

Parliament Hill in Ottawa, Ontario,Canada is seen August 11, 2016.
Parliament Hill in Ottawa, Ontario,Canada is seen August 11, 2016.LARS HAGBERG/AFP/Getty Images
The federal government is writing off more than 6.3 billion in loans to businesses and students  money it never expects to get back.

OTTAWA - The federal government is writing off more than $6.3 billion in loans to businesses and students - money it never expects to get back.

The figure, contained within annual public accounts documents, marks a new high for the Trudeau government.

It has already written off some $3 billion in loans in each of the past two years.

Part of the total for 2017 to 2018 includes a $2.6 billion write off that came through Export Development Canada.

Separate from the writeoffs, the government is also forgiving other debts and loans to the tune of about $1.1 billion.    

The amount includes nearly $344 million that officials don't expect to recover from student loan recipients.