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IMF chief, former PBO Kevin Page say Ottawa has leeway to run steeper deficits
Kevin Page and IMF head say Canada’s strong fiscal position allows higher deficits, with projected deficit reaching $90 billion this year and expected to decline by 2030.
- Next month, with the federal budget set for Nov. 4, Kevin Page argued in Policy Magazine that Ottawa has room to run steeper deficits, writing there is `no fiscal crisis` or `no precipice`.
- Last month, Interim PBO Jason Jacques told parliamentarians that Ottawa's pace of spending is `unsustainable` and projected the deficit will rise to nearly $70 billion this fiscal year, while Conservative Leader Pierre Poilievre accused the Carney government of spending `blindly`.
- Page's own institute projects a deficit of roughly $90 billion this fiscal year, and Page co-wrote the Policy Magazine piece with Adam Parwana and Hao Tian Shen.
- The International Monetary Fund echoed Page Thursday, highlighting Germany and Canada as stand-outs and praising Canada's spending split while François-Philippe Champagne set anchors to lower the deficit-to-GDP ratio and balance the operating budget by 2028-29.
- That projection implies a debt-to-GDP ratio of 2.5 to three per cent this year, falling to one to 1.5 per cent by 2030, and Budget 2025 is expected to argue this trajectory is fiscally sustainable.
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Kevin Page writes that there is "no fiscal crisis" in Canada. The post Ottawa can spend more, according to ex-DPB Kevin Page appeared first on Les Affaires.
Coverage Details
Total News Sources25
Leaning Left13Leaning Right0Center4Last UpdatedBias Distribution76% Left
Bias Distribution
- 76% of the sources lean Left
76% Left
L 76%
C 24%
Factuality
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