Busted Budgets: Canada’s Senior Governments Can’t Stick to Their Fiscal Plans

Summary:
Page Title:Busted Budgets: Canada’s Senior Governments Can’t Stick to Their Fiscal Plans – C.D. Howe Institute
Article Title:Busted Budgets: Canada’s Senior Governments Can’t Stick to Their Fiscal Plans
URL:https://cdhowe.org/publication/busted-budgets-canadas-senior-governments-cant-stick-their-fiscal-plans/
Published Date:October 1, 2020
Accessed Date:February 9, 2025
  • Canada’s federal, provincial and territorial governments have spent a combined total of $97 billion more than they promised in their budgets since 2000, a figure set to worsen with the advent of the COVID-19 pandemic.
  • Since 2000, Canada’s senior governments have spent $97 billion – some $2,600 per Canadian – more than they budgeted and raised $161 billion more in revenues – around $4,300 per Canadian.
  • This annual comparison of governments’ budget targets with what they actually ended up spending and raising at year-end shows governments went into the COVID-19 crisis spending far more, and taxing far more heavily, than they would have if they had met their budget promises over the past two decades.

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