Trudeau Is Going To Bury Us In Debt
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Federal government posts $6.5 billion deficit in April, May
Author of the article:Canadian Press
Canadian Press
Published Jul 25, 2025 • 1 minute read
The federal government posted a $6.5 billion deficit in the first two months of the fiscal year.
The result for the April-to-May period compared with a $3.8 billion deficit for the same stretch last year.
Revenues increased $26 million, virtually unchanged from the prior year, as increases in customs import duties and pollution pricing proceeds to be returned to Canadians were largely offset by a decrease in revenues from corporate income and goods and services taxes.
The Finance Department says program expenses excluding net actuarial losses rose $2.9 billion, or four per cent.
Public debt charges increased $400 million, or 3.8 per cent, due to an increase in the stock of marketable bonds and higher consumer price index adjustments on real return bonds.
Net actuarial losses fell $600 million, or 46.8 per cent.
torontosun.com
Author of the article:Canadian Press
Canadian Press
Published Jul 25, 2025 • 1 minute read
The federal government posted a $6.5 billion deficit in the first two months of the fiscal year.
The result for the April-to-May period compared with a $3.8 billion deficit for the same stretch last year.
Revenues increased $26 million, virtually unchanged from the prior year, as increases in customs import duties and pollution pricing proceeds to be returned to Canadians were largely offset by a decrease in revenues from corporate income and goods and services taxes.
The Finance Department says program expenses excluding net actuarial losses rose $2.9 billion, or four per cent.
Public debt charges increased $400 million, or 3.8 per cent, due to an increase in the stock of marketable bonds and higher consumer price index adjustments on real return bonds.
Net actuarial losses fell $600 million, or 46.8 per cent.
Federal government posts $6.5 billion deficit in April, May
The federal government posted a $6.5 billion deficit in the first two months of the fiscal year.
It was only a matter of time.
ca.yahoo.com
Katy Perry Spotted Out For Dinner With Justin Trudeau And... Seriously, What?!
The Teenage Dream and former Canadian prime minister were pictured together on Monday night.
Canadians on hook for thousands in government debt costs: Study
Debt interest costs in Ontario, Quebec and Alberta are as much as those provinces spent on K-12 education in 2024-25
Author of the article:Bryan Passifiume
Published Aug 21, 2025 • Last updated 12 hours ago • 1 minute read
OTTAWA — Government debt will cost Ontarians $2,242 this year, according to a new Fraser Institute report.
This year’s edition of the institute’s Federal and Provincial Debt Interest Costs for Canadians report shows combined provincial and federal debt will cost Canadians between $1,937 and $3,432 depending on the province lived in.
“Governments across Canada continue to rack up large debts, which impose real costs on Canadians,” said study co-author Tegan Hill, who is also director of the institute’s Alberta policy studies.
“Interest payments across the country are substantial, and money that goes to creditors is money that is not available for other important priorities.”
Albertans will pay the lowest in 2025, at $1,937, while those from Newfoundland and Labrador will be on the hook for $3,432.
The study also points out that Ontario, Quebec and Alberta pay as much in combined debt interest costs as the provinces spent on kindergarten to Grade 12 education in the 2024-25 school year — while the $11.8-billion interest costs for British Columbia is more than what the province plans to spend on social services.
“Interest must be paid on government debt, and the more money governments spend on interest payments the less money is available for the programs and services that matter to Canadians,” said Jake Fuss, study co-author and the institute’s fiscal studies director.
The study says the federal government is expected to spend $92.5 billion on debt interest in 2024-25 and $53.8 billion to service that debt — more than the $52.1 billion spent on the Canada Health Transfer, and $35.1 billion set aside for childcare benefits.
bpassifiume@postmedia.com
X: @bryanpassifiume
fraserinstitute.org
torontosun.com
Debt interest costs in Ontario, Quebec and Alberta are as much as those provinces spent on K-12 education in 2024-25
Author of the article:Bryan Passifiume
Published Aug 21, 2025 • Last updated 12 hours ago • 1 minute read
OTTAWA — Government debt will cost Ontarians $2,242 this year, according to a new Fraser Institute report.
This year’s edition of the institute’s Federal and Provincial Debt Interest Costs for Canadians report shows combined provincial and federal debt will cost Canadians between $1,937 and $3,432 depending on the province lived in.
“Governments across Canada continue to rack up large debts, which impose real costs on Canadians,” said study co-author Tegan Hill, who is also director of the institute’s Alberta policy studies.
“Interest payments across the country are substantial, and money that goes to creditors is money that is not available for other important priorities.”
Albertans will pay the lowest in 2025, at $1,937, while those from Newfoundland and Labrador will be on the hook for $3,432.
The study also points out that Ontario, Quebec and Alberta pay as much in combined debt interest costs as the provinces spent on kindergarten to Grade 12 education in the 2024-25 school year — while the $11.8-billion interest costs for British Columbia is more than what the province plans to spend on social services.
“Interest must be paid on government debt, and the more money governments spend on interest payments the less money is available for the programs and services that matter to Canadians,” said Jake Fuss, study co-author and the institute’s fiscal studies director.
The study says the federal government is expected to spend $92.5 billion on debt interest in 2024-25 and $53.8 billion to service that debt — more than the $52.1 billion spent on the Canada Health Transfer, and $35.1 billion set aside for childcare benefits.
bpassifiume@postmedia.com
X: @bryanpassifiume
Federal and Provincial Debt-Interest Costs for Canadians, 2025 Edition
Canadians on hook for thousands in government debt costs: Study
Debt interest costs in Ontario, Quebec and Alberta are as much as those provinces spent on K-12 education in 2024-25
Budget’s aren’t important , what is , is finding the right liberal to take on the bad Orangeman to our south . Elbows up .
Canadians on hook for thousands in government debt costs: Study
Debt interest costs in Ontario, Quebec and Alberta are as much as those provinces spent on K-12 education in 2024-25
Author of the article:Bryan Passifiume
Published Aug 21, 2025 • Last updated 12 hours ago • 1 minute read
OTTAWA — Government debt will cost Ontarians $2,242 this year, according to a new Fraser Institute report.
This year’s edition of the institute’s Federal and Provincial Debt Interest Costs for Canadians report shows combined provincial and federal debt will cost Canadians between $1,937 and $3,432 depending on the province lived in.
“Governments across Canada continue to rack up large debts, which impose real costs on Canadians,” said study co-author Tegan Hill, who is also director of the institute’s Alberta policy studies.
“Interest payments across the country are substantial, and money that goes to creditors is money that is not available for other important priorities.”
Albertans will pay the lowest in 2025, at $1,937, while those from Newfoundland and Labrador will be on the hook for $3,432.
The study also points out that Ontario, Quebec and Alberta pay as much in combined debt interest costs as the provinces spent on kindergarten to Grade 12 education in the 2024-25 school year — while the $11.8-billion interest costs for British Columbia is more than what the province plans to spend on social services.
“Interest must be paid on government debt, and the more money governments spend on interest payments the less money is available for the programs and services that matter to Canadians,” said Jake Fuss, study co-author and the institute’s fiscal studies director.
The study says the federal government is expected to spend $92.5 billion on debt interest in 2024-25 and $53.8 billion to service that debt — more than the $52.1 billion spent on the Canada Health Transfer, and $35.1 billion set aside for childcare benefits.
bpassifiume@postmedia.com
X: @bryanpassifiume
Federal and Provincial Debt-Interest Costs for Canadians, 2025 Edition
Canadians on hook for thousands in government debt costs: Study
Debt interest costs in Ontario, Quebec and Alberta are as much as those provinces spent on K-12 education in 2024-25
It's time to start selling water. We have 10% of global supply.
Feds to spend $71 billion on public servants' salaries, other costs this fiscal: PBO
The increase in personnel spending came despite a shrinking federal public service.
Author of the article:Matteo Cimellaro
Published Aug 28, 2025 • Last updated 21 hours ago • 2 minute read
Parliamentary Budget Officer Yves Giroux reports that personnel spending is set to increase this fiscal.
Parliamentary Budget Officer Yves Giroux reports that personnel spending is set to increase this fiscal. Photo by Adrian Wyld /The Canadian Press
The federal government is set to spend an estimated $71.1 billion on salaries, bonuses and other personnel costs in 2024-25 despite having shaved off around 10,000 workers from the public service last fiscal year, according to Canada’s parliamentary budget officer.
This was an increase from last year’s $69.6 billion spent on personnel, according to a new PBO report published on Aug. 28. Personnel costs are the largest part of operational spending and will present a challenge to the government of Prime Minister Mark Carney, which has promised to balance the operating budget all while capping and not cutting the size of the federal public service.
Last fiscal year, the size of the federal public service shrunk by 9,807 jobs, according to Treasury Board data. However, in July, the PBO released an analysis that showed the number of full-time equivalents in the public service has continued to grow.
A full-time equivalent is the labour of one full-time employee, or multiple part-time employees whose work adds to the work of one full-time employee.
In an interview, Giroux said the government can reduce the headcount of the public service but still increase the number of full-time equivalents if the jobs cut are those of students, part-time employees and temporary contract workers.
“So you can reduce the number of employees by thousands, but still increase your wage bill,” he said.
The PBO projected that the average cost per full-time equivalent when it comes to salaries, wages and other standard compensation will increase to $139,000 by 2029-30, growing in line with inflation. But the average projected cost balloons to more than $172,000 when benefits and other payments are factored in.
In the new report, the PBO also projected that federal personnel spending could reach $76.2 billion per year by 2029-30 if left unchecked. However, this projection did not include planned increases in defence spending, nor the potential savings in the government’s upcoming spending review.
Carney’s target is to increase defence spending to two per cent of Canada’s gross domestic product by the end of March 2025, which will require more than $9 billion in additional annual spending. The prime minister is eyeing subsequent increases in future years as part of commitments he’s made to NATO.
Meanwhile, his ministers have been asked to find up to 15 per cent savings in most departments and agencies over three years, culminating in 2028-29.
The spending review will start in earnest in 2026-27 with a 7.5 per cent cut across most departments, followed by another 2.5 per cent the next year, and an additional 5 per cent in 2028-29.
“As personnel expenses constitute the single largest component of federal operating spending, amore granular understanding is essential for effective parliamentary scrutiny,” the PBO wrote in the report.
The PBO’s report noted that the projected spending on personnel “provides a baseline for the anticipated policy changes to be announced in Budget 2025,” which is expected this fall.
torontosun.com
The increase in personnel spending came despite a shrinking federal public service.
Author of the article:Matteo Cimellaro
Published Aug 28, 2025 • Last updated 21 hours ago • 2 minute read
Parliamentary Budget Officer Yves Giroux reports that personnel spending is set to increase this fiscal.
Parliamentary Budget Officer Yves Giroux reports that personnel spending is set to increase this fiscal. Photo by Adrian Wyld /The Canadian Press
The federal government is set to spend an estimated $71.1 billion on salaries, bonuses and other personnel costs in 2024-25 despite having shaved off around 10,000 workers from the public service last fiscal year, according to Canada’s parliamentary budget officer.
This was an increase from last year’s $69.6 billion spent on personnel, according to a new PBO report published on Aug. 28. Personnel costs are the largest part of operational spending and will present a challenge to the government of Prime Minister Mark Carney, which has promised to balance the operating budget all while capping and not cutting the size of the federal public service.
Last fiscal year, the size of the federal public service shrunk by 9,807 jobs, according to Treasury Board data. However, in July, the PBO released an analysis that showed the number of full-time equivalents in the public service has continued to grow.
A full-time equivalent is the labour of one full-time employee, or multiple part-time employees whose work adds to the work of one full-time employee.
In an interview, Giroux said the government can reduce the headcount of the public service but still increase the number of full-time equivalents if the jobs cut are those of students, part-time employees and temporary contract workers.
“So you can reduce the number of employees by thousands, but still increase your wage bill,” he said.
The PBO projected that the average cost per full-time equivalent when it comes to salaries, wages and other standard compensation will increase to $139,000 by 2029-30, growing in line with inflation. But the average projected cost balloons to more than $172,000 when benefits and other payments are factored in.
In the new report, the PBO also projected that federal personnel spending could reach $76.2 billion per year by 2029-30 if left unchecked. However, this projection did not include planned increases in defence spending, nor the potential savings in the government’s upcoming spending review.
Carney’s target is to increase defence spending to two per cent of Canada’s gross domestic product by the end of March 2025, which will require more than $9 billion in additional annual spending. The prime minister is eyeing subsequent increases in future years as part of commitments he’s made to NATO.
Meanwhile, his ministers have been asked to find up to 15 per cent savings in most departments and agencies over three years, culminating in 2028-29.
The spending review will start in earnest in 2026-27 with a 7.5 per cent cut across most departments, followed by another 2.5 per cent the next year, and an additional 5 per cent in 2028-29.
“As personnel expenses constitute the single largest component of federal operating spending, amore granular understanding is essential for effective parliamentary scrutiny,” the PBO wrote in the report.
The PBO’s report noted that the projected spending on personnel “provides a baseline for the anticipated policy changes to be announced in Budget 2025,” which is expected this fall.
Feds to spend $71 billion on public servants' salaries, other costs this fiscal: PBO
The increase in personnel spending came despite a shrinking federal public service.