A former parliamentary budget officer has criticized the current fiscal watchdog for characterizing federal finances as unsustainable. Kevin Page, the first parliamentary budget officer for Canada, expressed his disagreement with the language used by the current PBO, Jason Jacques. Page stated that Jacques’ description of Canada’s fiscal situation as “stupefying,” “shocking,” and “unsustainable” is inaccurate and inflammatory.
Jason Jacques, who recently took on the role of interim PBO, raised concerns about Canada’s financial state in a government committee meeting. Page, now leading the Institute of Fiscal Studies and Democracy at the University of Ottawa, emphasized that such language is atypical for a non-partisan position. He suggested that Jacques should refrain from using such alarming language in the future.
Page highlighted that while he doesn’t dispute the recent PBO report projecting a $68.5 billion annual deficit, he believes that Canada’s fiscal position is relatively stable compared to other G7 nations. He explained that economic factors and international commitments contribute to the deficit increase, making it a manageable situation.
The Parliamentary Budget Officer serves as an impartial advisor to Parliament, offering independent economic and financial analysis. Page urged for a more measured approach in discussing Canada’s finances and expressed hope that the government will address these concerns in the upcoming budget.
