Provincial Budgets and Economic Statements

Newfoundland to address “mountain” of a debt load, one stone at a time.

Despite the backdrop of a challenging third wave tearing through the province, the tone in BC's budgetary address was hopeful and resolute.

The Manitoba government's 2021 budget projects a deficit of $1.6 billion in FY 2021-22, or 23% smaller than in FY 2020-21.

The Saskatchewan budget's three pillars this year, “protect, build, grow," will aim to drive the province's recovery.

One year after the pandemic ravaged the global economy, Nova Scotia has weathered the fiscal and economic storm comparatively well.

The pandemic was obviously still on the mind of Quebec Finance Minister Éric Girard when he delivered his 2021 budget.

Ontario's 2021 Budget makes it clear that the province's deep deficit is here to stay – at least in the near term.

New Brunswick announces a higher deficit of $245 million for the fiscal year 2021-22. The expenses reflect continued pressures presented by COVID-19.

PEI's boost to health care spending next year will keep the pressure on the bottom line, says RBC Economics in its provincial budget analysis.

Alberta projects an $18.2 billion budget deficit in 2021-2022, which is an improvement from a deficit of $20.2 billion in 2020-2021.

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.

Quebec is headed toward a record $15 billion deficit (3.4% of GDP) as it spends heavily to deal with the pandemic.