In 2024/25, federal program spending will reach a projected $483.6 billion—up $16.1 billion from the previous budget’s estimates.
federal spending
According to projections, this federal government will possess the eight highest levels of per-person spending in Canadian history.
Support for government-funded pharmacare, dental care and daycare plummeted to well below 50 per cent if the programs are paid for by tax hikes.
In 2023/24, interest costs on federal government debt will reach a projected $46.5 billion.
Since 2014/15, annual federal program spending has increased by $193.6 billion—or 75.5 per cent.
Canada’s population is expanding by more than one million per year while housing starts are stuck below 250,000.
The government is on track to run nine consecutive budgets deficits, with all but one exceeding $10 billion.
The government now expects to spend $58 billion more than its 2023 budget projections.