Ottawa Won’t Balance Budget Until 2041, Taxpayer Advocacy Group Says

Finance Minister Chrystia Freeland tables the federal budget in the House of Commons as Prime Minister Justin Trudeau looks on, in Ottawa on April 7, 2022. The Canadian Press/Adrian Wyld

It will take the federal government at least 20 years to balance the budget, judging by its current state and only if granted a generous forecast, says the Canadian Taxpayers Foundation (CTF).

Using supplementary data from Fiscal Sustainability Report 2022 published by Parliamentary Budget Officer (PBO) Yves Giroux on July 28, the CTF compared Canada’s year-by-year projections of total revenue, total spending, budgetary balance, and interest charges from 2022 to 2041.