Failure to rein in spending leaves Canada unprepared 

Today’s fall economic statement confirms that the federal government has lost control of Canadians’ finances, says the Business Council of Canada (BCC). Despite assurances in the 2024 budget that the government would limit the federal deficit to $40.1 billion, that number has now ballooned to $61.9 billion. 

“For five years the BCC has urged the government to adhere to a meaningful fiscal anchor to ensure Canada remains a credible and stable place for investment,” says BCC President and CEO Goldy Hyder. “By not keeping its economic promises, the federal government is sending the message that it can’t be trusted to manage the public finances.”