A Deficit Paid by Workers and a Bailout for the Wealthy
Canada's deficit is projected to rise by $17 billion, yet ordinary Canadians face cuts to essential services while the ultra-wealthy and multinational corporations avoid billions in taxes.
Closing loopholes and taxing hidden offshore wealth could fully fund health care, housing, and education—proving the crisis is a political choice, not an economic necessity.
Ahead of this year's federal budget, the Parliamentary Budget Officer has projected a $17 billion increase in the national deficit, from $51.7 billion (1.7 percent of GDP) in 2024-25 to $68.5 billion (2.2 percent of GDP) in 2025-26.
Deficits aren’t inherently good or bad—public investments in health care, education, housing, infrastructure, and other essential services have long helped build the affordable, liveable Canada that previous generations benefited from.
Author's summary: Canada's deficit rise affects ordinary Canadians.
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