Budget watchdog calls government’s fiscal track ‘alarming,’ ‘stupefying,’ ‘unsustainable’

A new report projects the deficit will 'increase sharply' from $51.7-billion in 2024-25 to $68.5-billion in 2025-26, thanks to the combination of economic weakness, tax cuts, and planned spending.

Interim Parliamentary Budget Officer Jason Jacques says the government’s fiscal position is 'certainly not sustainable.'The Hill Times photograph by Andrew Meade

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BY PETER MAZEREEUW

September 26, 2025

Interim Parliamentary Budget Officer Jason Jacques' latest report offers a grim take on Canada's economic and fiscal outlook.

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