Deficits & Debt

British Columbia’s Descent into Debt finds that the B.C. provincial government continues with its current fiscal plans, it will become the third-most indebted province in the country by 2029/30.

How Have Canadian Federal Governments Responded to Budget Deficits? is a new study that measures how Canadian federal governments have responded to budget deficits over the last 150 years. It finds that a delay in balancing the budget will require deeper spending cuts and higher tax hikes in the future than if the government balanced the budget now. Put simply, it is better if the federal government embarks on fiscal adjustment early on, rather than postponing deficit elimination.