October 1, 2020
- Canada’s federal, provincial and territorial governments have spent a combined total of $97 billion more than they promised in their budgets since 2000, a figure set to worsen with the advent of the COVID-19 pandemic.
- Since 2000, Canada’s senior governments have spent $97 billion – some $2,600 per Canadian – more than they budgeted and raised $161 billion more in revenues – around $4,300 per Canadian.
- This annual comparison of governments’ budget targets with what they actually ended up spending and raising at year-end shows governments went into the COVID-19 crisis spending far more, and taxing far more heavily, than they would have if they had met their budget promises over the past two decades.
