Budget Analysis

Lower revenues and new spending measures have resulted in deeper deficits over the course of the fiscal plan—including a whopping $22 billion downward revision to the 2023-24 bottom line to $61.9 billion.

Much has changed since the spring of Budget 2024. The feds’ lower immigration targets will hamper the growth engine the Canadian economy.

Budget 2024 showed a slightly worse bottom line throughout the federal government’s fiscal plan compared to previous estimates but kept the deficit within target. To achieve this, however, the government introduced several new taxes after a myriad of new spending was rolled out in recent weeks. The lack of spending restraint was offset by a […]

The federal government announces $20.8 billion in net new policy action over 6 years since Budget 2023 – 30% of which ($6.3 billion) will be allocated to housing affordability initiatives.

The government is much deeper in the red—a cumulative $69 billion deeper—than its fall statement indicated, with no balanced budget in sight.

The FES at least focused much new spending on measures to encourage private investment.

As expected, updated economic developments led to a net $86 B improvement in the government’s bottom line over the forecast period, before the impact of new measures.

Finance Minister Freeland said Budget 2022 would be about boosting Canada’s long term economic growth. But her next fiscal blueprint risks being consumed by more immediate demands. The sharply rising cost of living, Russia’s invasion of Ukraine, and the Liberal Party’s pact with the NDP have all added to the government’s spending priorities, potentially absorbing […]

Positive economic and fiscal developments were enough to cover this new spending and reduce budget deficits throughout the government’s projections.

With Budget 2021, the federal government is betting big that major spending will boost economic growth, with just over $100 billion in new spending over the next 3 years.

RBC Economics shares what to expect in the 2021 federal budget. Recovery spending likely to be focused on child care, training and digital and green infrastructure.

The Fall Economic Statement announced a higher 2020-21 deficit, about $382 billion. Deficits will be $121 billion in 2021-22 and $50 billion in 2022-23, before falling in future years.