[{"type":"NewsRelease","date":"2026-03-03T13:00:00.000000Z","payload":{"id":93,"created_at":"2026-03-02T16:01:44-05:00","updated_at":"2026-03-03T07:57:09-05:00","slug":"operational-update-during-parliamentary-budget-officer-vacancy-mise-a-jour-operationnelle-pendant-la-vacance-du-poste-de-directeur-parlementaire-du-budget","title_en":"Operational Update During Parliamentary Budget Officer Vacancy","title_fr":"Mise \u00e0 jour op\u00e9rationnelle pendant la vacance du poste de directeur parlementaire du budget","body_en":"Due to the current vacancy in the position of Parliamentary Budget Officer, the Office of the Parliamentary Budget Officer will not be publishing new reports or undertaking new requests from parliamentarians.\n\nWe continue to progress on existing files and will resume full operations once an appointment is made.","body_fr":"Puisque le poste de directeur parlementaire du budget n\u0027est pas pourvu actuellement, le Bureau du directeur parlementaire du budget ne publiera pas de nouveaux rapports ou n\u2019acceptera de nouvelles demandes de la part des parlementaires.\n\nNous poursuivons nos travaux sur les dossiers en cours et reprendrons nos activit\u00e9s compl\u00e8tes d\u00e8s qu\u0027une nomination aura \u00e9t\u00e9 effectu\u00e9e.","release_date":"2026-03-03T08:00:00-05:00","is_published":"2026-03-03T07:57:09-05:00","appears_on_feed":false,"internal_id":"COM-2526-093","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/blog\/news-releases--communiques-de-presse\/operational-update-during-parliamentary-budget-officer-vacancy-mise-a-jour-operationnelle-pendant-la-vacance-du-poste-de-directeur-parlementaire-du-budget"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/blog\/news-releases--communiques-de-presse\/operational-update-during-parliamentary-budget-officer-vacancy-mise-a-jour-operationnelle-pendant-la-vacance-du-poste-de-directeur-parlementaire-du-budget"}}}},{"type":"Publication","date":"2026-02-26T14:00:00.000000Z","payload":{"id":"RP-2526-025-S","is_published":"2026-02-26T13:57:08.000000Z","release_date":"2026-02-26T14:00:00.000000Z","last_revised_date":null,"title_en":"Demographic Implications of the 2026-2028 Immigration Levels Plan","title_fr":"Implications d\u00e9mographiques du Plan des niveaux d\u2019immigration 2026 2028","internal_id":"RP-2526-025-S","metadata":{"abstract_en":"This report analyzes the Government\u2019s 2026-2028 Immigration Levels Plan in light of recent trends in Canada\u2019s demographics. It also provides an update to PBO\u2019s baseline demographic projection.","abstract_fr":"Ce rapport analyse le Plan des niveaux d\u2019immigration 2026-2028 du gouvernement \u00e0 la lumi\u00e8re des tendances d\u00e9mographiques r\u00e9centes du Canada. Il fournit \u00e9galement une mise \u00e0 jour des projections d\u00e9mographiques de r\u00e9f\u00e9rence du DPB.","highlights":[{"content":{"en":"The 2026-2028 Immigration Levels Plan sets permanent resident (PR) admission targets at 380,000 per year and reiterates the Government\u2019s commitment to reduce the non-permanent resident (NPR) population to less than 5 per cent of Canada\u2019s total population by the end of 2027.","fr":"Le Plan des niveaux d\u2019immigration 2026-2028 fixe un objectif annuel de 380 000 r\u00e9sidents permanents (RP) admis et r\u00e9it\u00e8re l\u2019engagement du gouvernement de r\u00e9duire la population des r\u00e9sidents non permanents (RNP) \u00e0 moins de 5 % de la population totale du Canada d\u2019ici la fin de 2027."}},{"content":{"en":"PBO projects that the share of NPRs in the total population will fall from its 2024 peak of 7.6 per cent to just under 5 per cent by the end of 2027, aligning with the Government\u2019s target. PBO assesses that one time initiatives introduced in the plan will contribute to achieving this outcome.","fr":"Le DPB pr\u00e9voit que la part des RNP dans la population totale passera du sommet de 7,6 % atteint en 2024 \u00e0 un peu moins de 5 % \u00e0 la fin de 2027, ce qui correspond \u00e0 l\u2019objectif du gouvernement. Le DPB estime que les initiatives ponctuelles pr\u00e9vues dans le plan aideront \u00e0 atteindre cet objectif."}},{"content":{"en":"As the NPR population continues to decline, PBO projects that total population growth will remain flat in 2026 and pick up only modestly to 0.3 per cent in 2027. Over the medium term, PBO projects population growth to stabilize around 0.8 per cent annually, which is below its historical average of 1.1 per cent per year.","fr":"Le DPB pr\u00e9voit que, parall\u00e8lement au d\u00e9clin de la population des RNP, la croissance de la population totale restera stable en 2026 et ne s\u2019acc\u00e9l\u00e9rera que modestement pour atteindre 0,3 % en 2027. \u00c0 moyen terme, le DPB pr\u00e9voit que la croissance d\u00e9mographique se stabilisera autour de 0,8 % par ann\u00e9e, ce qui est inf\u00e9rieur \u00e0 sa moyenne historique de 1,1 % par ann\u00e9e."}}]},"updated_at":"2026-02-26T13:57:08.000000Z","type":"RP","slug":"RP-2526-025-S--demographic-implications-2026-2028-immigration-levels-plan--implications-demographiques-plan-niveaux-immigration-2026-2028","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-025-S--demographic-implications-2026-2028-immigration-levels-plan--implications-demographiques-plan-niveaux-immigration-2026-2028","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-025-S--demographic-implications-2026-2028-immigration-levels-plan--implications-demographiques-plan-niveaux-immigration-2026-2028"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-025-S--demographic-implications-2026-2028-immigration-levels-plan--implications-demographiques-plan-niveaux-immigration-2026-2028","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-025-S--demographic-implications-2026-2028-immigration-levels-plan--implications-demographiques-plan-niveaux-immigration-2026-2028"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/8f2e1d2efa5a00b6ee769db8a0380891a680ba6d1b28a6b2a801c524b91f27de"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/f1a27c969d94481c5a945adb26c6040a5fbb046d355099759bc7042d4b0e605b"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6724954162a223f2829d8f6ee561caa608165bf940609041836c28b9eaf126ec","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/06e3c3a2cc24c7219c8b719c065592b9a23400314bf1e05ce6cddc89e6fa7393","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e9068f07c98c5a4fb0943cdf26b0b7d74345f5bba71ff85cd766613f4bc763db","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6582de551a4e823e785e5896b22095167faa97e0ea54919282b145fb820147b9","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/bcdeadc5d1b629c2a41bed0ad1b857fb0e3e9d5561ecd429bf0734a48196cb96","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/bfa752a7d2937f6d6de6d13e89507c0078db80bbf3b8f997cb487b517c65779c","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b3283f5fc1fe26004f80757d5a12709745b5344575e821c68af835761a76fc27","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/cc6fd7135c461fbbfcdd4ed9d1cc7069c57942669b286028dffc248f51366cfd"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/fa57852f3dd588b47cd3bc20876cb90d40b204f401f607b3801be055fee1a33e","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e78e6b95ff2dd6cd45459e76d7d784938e11efbf308d1e82bf7f1fba47f78d23","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b38a0851234b881cd59098b4a6bdd5a8ddc83d9f84b88a030308af1ac90e53a7","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/378e3b3950d7481560a8d30eb5c791af82b6466b4dfd802bbe804e94624cef8a","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/81ef51f99996bb67d426f0655ed12f12d53c1b5ed6c66ce141706e90e2d3cd01","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/51a36c5c26fbebd37c6150b09f31ac0ee434de9b9f5f70e45b3b8ed39fde250d","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e7f74e34418f9f59de48c6de7c46b7e56ac6657ee2b2fa9fc7dffcfff78cf93a","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/52cea35d4a66bf8eb646dd7de3cfc6d8935ec993cee4e04e26f347e488f8d5d8"}}},"bills":[],"hubs":[],"labels":[],"bibtex":{"en":"@techreport{PBO-RP2526025S,\n author={McGoey, Matthew and Nicol, Caroline},\n title={Demographic Implications of the 2026-2028 Immigration Levels Plan},\n institution={The Office of the Parliamentary Budget Officer},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2526025S,\n author={McGoey, Matthew and Nicol, Caroline},\n title={Implications d\\\u0027{e}mographiques du Plan des niveaux d\u2019immigration 2026 2028},\n institution={Bureau du directeur parlementaire du budget},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}"}}},{"type":"Publication","date":"2026-02-25T14:00:00.000000Z","payload":{"id":"RP-2526-024-C","is_published":"2026-02-25T13:57:19.000000Z","release_date":"2026-02-25T14:00:00.000000Z","last_revised_date":null,"title_en":"Estimating First Nations and Inuit police services funding gap","title_fr":"Estimation du d\u00e9ficit de financement des services de police des Premi\u00e8res Nations et des Inuits","internal_id":"RP-2526-024-C","metadata":{"abstract_en":"In response to a request by the Standing Committee on Indigenous and Northern Affairs, this report provides an estimate of the operational funding gap for First Nations and Inuit police services supported by the First Nations and Inuit Policing Program. It also projects the value of one-time costs to meet provincially estimated service needs.","abstract_fr":"Produit en r\u00e9ponse \u00e0 une demande du Comit\u00e9 permanent des affaires autochtones et du Nord, le pr\u00e9sent rapport fourni une estimation du d\u00e9ficit de financement op\u00e9rationnel des services de police des Premi\u00e8res Nations et des Inuits soutenus par le Programme des services de police des Premi\u00e8res Nations et des Inuits. Il projette \u00e9galement la valeur des d\u00e9penses ponctuelles qui doivent entre engag\u00e9es pour r\u00e9pondre aux besoins en mati\u00e8re de services estim\u00e9s par les provinces.","highlights":[{"content":{"en":"PBO estimates the federal cost of the annual operational funding gap for First Nations and Inuit communities served by self-administered police services under the First Nations and Inuit Policing Program to be $232.5 million as of 2026-27, which represents 103.0 per cent of projected federal funding under self-administered agreements. This gap is primarily driven by the need for 841 additional funded officers, equivalent to an increase of 54.8 per cent relative to projected levels under self-administered agreements.","fr":"Le DPB estime que la part du gouvernement f\u00e9d\u00e9ral dans le d\u00e9ficit annuel de financement op\u00e9rationnel pour les collectivit\u00e9s des Premi\u00e8res Nations et des Inuits desservies par des services de police autog\u00e9r\u00e9s dans le cadre du Programme des services de police des Premi\u00e8res Nations et des Inuits s\u2019\u00e9l\u00e8ve \u00e0 232,5 millions de dollars en 2026-2027, ce qui repr\u00e9sente 103,0 % du financement f\u00e9d\u00e9ral pr\u00e9vu en vertu des ententes sur les services de police autog\u00e9r\u00e9s. Ce d\u00e9ficit est principalement attribuable \u00e0 la n\u00e9cessit\u00e9 de financer 841 postes suppl\u00e9mentaires d\u2019agents de police, ce qui \u00e9quivaut \u00e0 une augmentation de 54,8 % par rapport aux niveaux pr\u00e9vus dans les ententes sur les services de police autog\u00e9r\u00e9s."}},{"content":{"en":"Based on the resource needs estimated by provinces, all self-administered First Nations and Inuit police services are estimated to have an operational funding gap as of 2026-27, ranging from 1.4 per cent to 572.3 per cent of projected funding.","fr":"D\u2019apr\u00e8s les besoins en ressources estim\u00e9s par les provinces, tous les services de police des Premi\u00e8res Nations et des Inuits autog\u00e9r\u00e9s conna\u00eetraient en 2026-2027 un d\u00e9ficit de financement variant entre 1,4 % et 572,3 % du financement pr\u00e9vu."}},{"content":{"en":"In addition, PBO estimates the value of federal one-time costs to meet provincially estimated service needs to be $946.6 million as of 2026-27. These one-time costs include induction training, equipment, and infrastructure that could be incurred over multiple fiscal years.","fr":"De plus, le DPB estime que la part f\u00e9d\u00e9rale des d\u00e9penses ponctuelles requises pour r\u00e9pondre aux besoins en mati\u00e8re de services estim\u00e9s par les provinces s\u2019\u00e9l\u00e8ve \u00e0 946,6 millions de dollars en 2026-2027. Ces d\u00e9penses ponctuelles, qui pourraient s\u2019\u00e9chelonner sur plusieurs ann\u00e9es, comprennent la formation initiale, l\u2019\u00e9quipement et l\u2019infrastructure."}}]},"updated_at":"2026-02-25T13:57:19.000000Z","type":"RP","slug":"RP-2526-024-C--estimating-first-nations-inuit-police-services-funding-gap--estimation-deficit-financement-services-police-premieres-nations-inuits","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-024-C--estimating-first-nations-inuit-police-services-funding-gap--estimation-deficit-financement-services-police-premieres-nations-inuits","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-024-C--estimating-first-nations-inuit-police-services-funding-gap--estimation-deficit-financement-services-police-premieres-nations-inuits"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-024-C--estimating-first-nations-inuit-police-services-funding-gap--estimation-deficit-financement-services-police-premieres-nations-inuits","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-024-C--estimating-first-nations-inuit-police-services-funding-gap--estimation-deficit-financement-services-police-premieres-nations-inuits"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/cbf01c927901c90944742e3eec016343e6334f2353addbc5697a812a3e80f97a"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/e9d44bd16a2651c3f9adeb882e03148f2e9fd0c21be3ebf5c993f8814637b263"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d9179cc3a07c7a6b24df063337a435a2d8a421dc90c5e8a3071356baf14ad3d9","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f9e01ba1338be35e6e7127bf7eb21d6d610c61a16c9cfeaa344a4751b3d0d50c","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d5247293aca147e3052cf34fe4935510150fcc852bb6dbd0f958382b0a6077e0","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5753598ff871988d1976ed0cee4268e37180dc1abad73303e54d57c830a823b8","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/105868fbb4c1a419db42633761671e3ff9a1fa9bfcb9758884df520f92036dce","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5e297a87015b6ede292ae6770fd147964db5e27bec273de535450f25a9e3eba7","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e8dcb19e0e2409b26514e59e76e306cde7725361431c1ad8f9e3afe8d13588a4","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/40b2e27539fceb0dc514bdb0968f8fe1bfc76379233d102b6d4031f09fdc73af"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/bf93f307a8b7f2e2df89bdf9fdde426ea1e0e3ec93b3dbb1ede1644ec508f447","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/2dc18508ce459ca41dc3ec9b558ad3bc3790e12b0220e749965dc4febc736d14","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/cb88b186e73b0ae8bf03315a2e4ca526d730202e6b0451a0520e7ac6711beb43","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/043ee38b9630deb4c4aeb1512a909979d862afa953cab7bda35de962b7ab2a92","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/45780681d412a46ef564bc40cbf488dd7d4ded3479d2a6691ec05b7908692cdc","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/7fdca0af9f3d703e259a5b2389bf058ef09a4adc4f9bfc70acbcae3133317008","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/7eea5214604efec34c3bb2520b9ab3784c4da9659c9b5a932863b9a9158420d7","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/29ae74f38629626148fd4bd904de59b775b4c5451234d8a4f6347d0286d916ee"}}},"bills":[],"hubs":[],"labels":[],"bibtex":{"en":"@techreport{PBO-RP2526024C,\n author={Behrend, Robert and Petroff, Nolan},\n title={Estimating First Nations and Inuit police services funding gap},\n institution={The Office of the Parliamentary Budget Officer},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2526024C,\n author={Behrend, Robert and Petroff, Nolan},\n title={Estimation du d\\\u0027{e}ficit de financement des services de police des Premi\\`{e}res Nations et des Inuits},\n institution={Bureau du directeur parlementaire du budget},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}"}}},{"type":"Publication","date":"2026-02-23T14:00:00.000000Z","payload":{"id":"RP-2526-026-S","is_published":"2026-02-23T13:57:08.000000Z","release_date":"2026-02-23T14:00:00.000000Z","last_revised_date":null,"title_en":"Supplementary Estimates (C) 2025-26","title_fr":"Budget suppl\u00e9mentaire des d\u00e9penses (C) 2025-2026","internal_id":"RP-2526-026-S","metadata":{"abstract_en":"This report provides a detailed analysis of the Government\u2019s Third Supplementary Estimates for the 2025-26 fiscal year, which seeks Parliament\u2019s approval for $5.4 billion.","abstract_fr":"Ce rapport analyse en d\u00e9tail le troisi\u00e8me budget suppl\u00e9mentaire des d\u00e9penses du gouvernement pour l\u2019exercice 2025-2026, dans lequel le gouvernement demande au Parlement d\u2019approuver des d\u00e9penses de 5,4 milliards de dollars.","highlights":[{"content":{"en":"These Supplementary Estimates outline $4.0 billion in budgetary authorities, which include a $1.4 billion decrease in forecast statutory spending. Parliament\u2019s approval is required for $5.4 billion.","fr":"Ce budget suppl\u00e9mentaire des d\u00e9penses pr\u00e9sente des autorisations budg\u00e9taires de 4,0 milliards de dollars, dont une diminution de 1,4 milliard de dollars en d\u00e9penses l\u00e9gislatives pr\u00e9vues. L\u2019approbation du Parlement est requise \u00e0 l\u2019\u00e9gard d\u2019une somme de 5,4 milliards de dollars."}},{"content":{"en":"These Supplementary Estimates include funding for Budget 2025 measures.","fr":"Ce budget suppl\u00e9mentaire des d\u00e9penses comprend le financement de certaines mesures du budget de 2025."}},{"content":{"en":"Major areas of spending include defence, and funding for the Canada Post Corporation.","fr":"Les principaux postes de d\u00e9penses comprennent la d\u00e9fense et la Soci\u00e9t\u00e9 canadienne des postes."}},{"content":{"en":"Parliamentarians have 6 weeks from tabling to approve the Government\u2019s financial request.","fr":"Les parlementaires disposent de six semaines pour approuver la demande de cr\u00e9dits du 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This change to the program is not reflected in our projection. Including this new measure would reduce our estimate of the total cost for the IFHP program.","fr":"Le budget de 2025 pr\u00e9voit l\u2019introduction d\u2019un \u00ab mod\u00e8le de syst\u00e8me de copaiement modeste \u00bb dans le Programme f\u00e9d\u00e9ral de sant\u00e9 int\u00e9rimaire pour les produits et services de sant\u00e9 suppl\u00e9mentaires. Ce changement au programme n\u2019est pas pris en compte dans notre projection. En tenir compte r\u00e9duirait notre co\u00fbt total estimatif pour le PFSI."}}]},"updated_at":"2026-02-12T13:57:12.000000Z","type":"RP","slug":"RP-2526-023-C--projecting-cost-interim-federal-health-program--prevision-cout-programme-federal-sante-interimaire","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-023-C--projecting-cost-interim-federal-health-program--prevision-cout-programme-federal-sante-interimaire","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-023-C--projecting-cost-interim-federal-health-program--prevision-cout-programme-federal-sante-interimaire"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-023-C--projecting-cost-interim-federal-health-program--prevision-cout-programme-federal-sante-interimaire","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-023-C--projecting-cost-interim-federal-health-program--prevision-cout-programme-federal-sante-interimaire"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/31783854f16938bf248bd247ee13cc2e4268b33e4b82466a1eadbb97a89964cb"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/dd5f65d2eb0ec9735cc026820e18d1a696ba3bc3c9426cb612b38015d8063bbb"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/729677ac5a2abd23e4b63bce4106932ac378a57079525eca7cf679a08388fc07","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/8e02ef5b35a8487251bb690e968c27b7618f87448ce114b403ded1c48fa50739","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/8215aba239d6aff12fb0020a3419b1811d2470a9facaedc6250d9ca25a68ef74","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/cc6d2936cba302664878b64fda43a41e15981394443e7c0d8776edbf205c59db","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a11e069804c970edcf1ade6b723475a161b99be0b7afa05c49ff7fef7f050a89","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/8ba6bfba5d570b6058218bca150b42f6b8104df032d13fb4f731b11d6b011443","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/23135c5fab73cf49b3046680d72b4233d2745e51aa8428c52baab3598ea3a7be","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/225f097e63444faadadc87d639743d67cf5ae32b2007f4a1a0f90de34c7c354e"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0838b28a3dcd75dac76de9d9454f41738ef4d45caadbfa516cde00eafc5ed602","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a6ab17946fa3c6cda9bd41d816f5a776e542453efb1d6382e7f5063bcec95192","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e9983d32dac06252d70d901f12e780a7b91c09ffd9ce0f9a04c44236cd040d83","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/95ac2381ee428cee60ec2d80de134aa910b7df1645886bfa2c220e03e9a3ddaf","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/812528412d0cd626581a7f264801cd07266752642750afb62ae9d374bc8358d1","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/87b25d2851ccebf6c0f9db590a894c46f2057ad0283f75d5626b7522c88fa276","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/fc7259b44f29279915acb05bf949cba1c8b44ac422f42998641799aabe18c58f","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/554b9f01c089229029ead007de371a634959190994d0ca96a403e9966016ab9f"}}},"bills":[],"hubs":[],"labels":[],"bibtex":{"en":"@techreport{PBO-RP2526023C,\n author={Nicol, Caroline and Stanton, Jason},\n title={Projecting the Cost of the Interim Federal Health Program},\n institution={The Office of the Parliamentary Budget Officer},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2526023C,\n author={Nicol, Caroline and Stanton, Jason},\n title={Pr\\\u0027{e}vision du cout du Programme f\\\u0027{e}d\\\u0027{e}ral de sant\\\u0027{e} int\\\u0027{e}rimaire},\n institution={Bureau du directeur parlementaire du budget},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}"}}},{"type":"Publication","date":"2026-02-12T14:00:00.000000Z","payload":{"id":"LEG-2526-011-S","is_published":"2026-02-12T13:57:19.000000Z","release_date":"2026-02-12T14:00:00.000000Z","last_revised_date":null,"title_en":"Enhancing the Scientific Research and Experimental Development Tax Incentives","title_fr":"Bonifier les encouragements fiscaux pour la recherche scientifique et le d\u00e9veloppement exp\u00e9rimental","internal_id":"LEG-2526-011-S","metadata":{"abstract_en":"Budget 2025 proposes to increase the annual expenditure limit on which the Scientific Research and Experimental Design program\u2019s enhanced credit can be earned from $4.5 million to $6 million, effective December 16, 2024.","abstract_fr":"Le budget de 2025 propose de rehausser le plafond des d\u00e9penses annuelles admissibles au cr\u00e9dit bonifi\u00e9 du programme de recherche scientifique et de d\u00e9veloppement exp\u00e9rimental, afin de le faire passer de 4,5 millions de dollars \u00e0 6 millions de dollars, \u00e0 compter du 16 d\u00e9cembre 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author={Scholz, Tim},\n title={Enhancing the Scientific Research and Experimental Development Tax Incentives},\n institution={The Office of the Parliamentary Budget Officer},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-LEG2526011S,\n author={Scholz, Tim},\n title={Bonifier les encouragements fiscaux pour la recherche scientifique et le d\\\u0027{e}veloppement exp\\\u0027{e}rimental},\n institution={Bureau du directeur parlementaire du budget},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}"}}},{"type":"Blog","date":"2026-02-06T14:00:00.000000Z","payload":{"id":"BLOG-2526-017","is_published":"2026-02-06T13:57:07.000000Z","release_date":"2026-02-06T14:00:00.000000Z","last_revised_date":null,"title_en":"OPBO Publishes New Communication Framework","title_fr":"Le BDPB publie son nouveau cadre de communication","internal_id":"BLOG-2526-017","updated_at":"2026-02-06T13:57:07.000000Z","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/additional-analyses--analyses-complementaires\/BLOG-2526-017--opbo-publishes-new-communication-framework--bdpb-publie-son-nouveau-cadre-communication","preview":"https:\/\/www.pbo-dpb.ca\/en\/additional-analyses--analyses-complementaires\/BLOG-2526-017--opbo-publishes-new-communication-framework--bdpb-publie-son-nouveau-cadre-communication"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/additional-analyses--analyses-complementaires\/BLOG-2526-017--opbo-publishes-new-communication-framework--bdpb-publie-son-nouveau-cadre-communication","preview":"https:\/\/www.pbo-dpb.ca\/fr\/additional-analyses--analyses-complementaires\/BLOG-2526-017--opbo-publishes-new-communication-framework--bdpb-publie-son-nouveau-cadre-communication"}},"slug":"BLOG-2526-017--opbo-publishes-new-communication-framework--bdpb-publie-son-nouveau-cadre-communication","abstract_en":"The framework formalizes the Office\u0027s commitment to clear, consistent, and transparent communications with parliamentarians, the media, and the public.","abstract_fr":"Le cadre formalise l\u0027engagement du Bureau envers des communications claires, coh\u00e9rentes et transparentes avec les parlementaires, les m\u00e9dias et le public.","hubs":[]}},{"type":"NewsRelease","date":"2026-02-06T14:00:00.000000Z","payload":{"id":92,"created_at":"2026-02-05T09:06:30-05:00","updated_at":"2026-02-06T08:57:07-05:00","slug":"meeting-natos-5-target-would-require-159-billion-in-core-defence-spending-by-2035-says-pbo-lobjectif-de-5-fixe-par-lotan-necessiterait-159-milliards-de-dollars-en-depenses-militaires-de-base-dici-2035-selon-le-dpb","title_en":"Meeting NATO\u2019s 5% target would require $159\u202fbillion in core defence spending by 2035, says PBO","title_fr":"L\u2019objectif de 5 % fix\u00e9 par l\u2019OTAN n\u00e9cessiterait 159 milliards de dollars en d\u00e9penses militaires de base d\u2019ici 2035, selon le DPB","body_en":"The Parliamentary Budget Officer (PBO) today released an analysis of the fiscal implications of meeting the North Atlantic Treaty Organization\u2019s (NATO) defence spending commitment of 5% of gross domestic product (GDP) by 2035.\n\nIn Budget 2025, the Government stated that accelerating investments will put Canada on a pathway to meet the NATO 5% commitment by 2035. However, it has not provided detailed projections showing how the target will be achieved. \n\nThe NATO commitment includes a target of 3.5% of GDP for core defence spending and up to 1.5% of GDP for ancillary defence and security-related spending. The Government has indicated that the ancillary component is expected to be met through existing spending plans; this analysis therefore focuses on the additional core defence spending required to reach the target by 2035.\n\nIn the absence of detailed government projections, the PBO constructed a scenario in which core defence spending rises gradually from 2.0% of GDP in 2025 to 3.5% by 2035.\n\nUnder this scenario, meeting the NATO commitment would require $159 billion in core defence spending in 2035\u201336 on a cash basis, an increase of $68.2 billion relative to a reference scenario in which spending remains at 2% of GDP. Over the next decade, this represents an increase of approximately $33.5 billion per year in additional cash expenditures.\n\nRelative to the reference scenario, the PBO estimates that these increases would raise the budgetary deficit by $63.0 billion (1.4 percentage points of GDP) in 2035\u201336 and increase the federal debt-to-GDP ratio by 6.3 percentage points.\n\u201cThis analysis highlights the scale of the investment required to meet Canada\u2019s NATO commitment and the associated fiscal implications,\u201d said Jason Jacques, Interim Parliamentary Budget Officer.","body_fr":"Le directeur parlementaire du budget (DPB) a publi\u00e9 aujourd\u2019hui une analyse des r\u00e9percussions financi\u00e8res li\u00e9es \u00e0 l\u2019engagement de consacrer 5 % du produit int\u00e9rieur brut (PIB) aux d\u00e9penses militaires d\u2019ici 2035, comme le pr\u00e9voit la cible fix\u00e9e par l\u2019Organisation du Trait\u00e9 de l\u2019Atlantique Nord (OTAN).\n\nDans son budget de 2025, le gouvernement a d\u00e9clar\u00e9 que l\u2019acc\u00e9l\u00e9ration des investissements mettra le Canada sur la voie du respect de l\u2019engagement de 5 % pris envers l\u2019OTAN d\u2019ici 2035. Il n\u2019a toutefois pas fourni de projections d\u00e9taill\u00e9es sur la mani\u00e8re dont la cible sera atteinte. \n\nDans le cadre de cet engagement, 3,5 % du PIB seront consacr\u00e9s aux capacit\u00e9s militaires de base, et jusqu\u2019\u00e0 1,5 % du PIB iront aux activit\u00e9s auxiliaires de d\u00e9fense et \u00e0 la s\u00e9curit\u00e9. Le gouvernement a indiqu\u00e9 que la composante auxiliaire devrait \u00eatre financ\u00e9e par les plans de d\u00e9penses existants; cette analyse se concentre donc sur les d\u00e9penses de d\u00e9fense suppl\u00e9mentaires exig\u00e9es pour atteindre la cible d\u2019ici 2035.\nEn l\u2019absence de projections d\u00e9taill\u00e9es du gouvernement, le DPB a \u00e9labor\u00e9 un sc\u00e9nario dans lequel les d\u00e9penses li\u00e9es aux capacit\u00e9s militaires de base augmentent progressivement de 2 % du PIB en 2025 \u00e0 3,5 % en 2035.\n\nSelon ce sc\u00e9nario, le respect de l\u2019engagement pris envers l\u2019OTAN exigerait de consacrer 159 milliards de dollars aux capacit\u00e9s militaires de base en 2035 2036 selon la m\u00e9thode de la comptabilit\u00e9 de caisse, soit une hausse de 68,2 milliards par rapport au sc\u00e9nario de r\u00e9f\u00e9rence o\u00f9 les d\u00e9penses restent \u00e0 2 % du PIB. D\u2019ici dix ans, cela repr\u00e9sente une augmentation d\u2019environ 33,5 milliards de dollars par an en d\u00e9penses de caisse suppl\u00e9mentaires.\n\nPar rapport au sc\u00e9nario de r\u00e9f\u00e9rence, le DPB estime que ces hausses accro\u00eetraient le d\u00e9ficit budg\u00e9taire de 63 milliards de dollars (1,4 point de pourcentage du PIB) en 2035 2036 et feraient augmenter le ratio dette PIB f\u00e9d\u00e9ral de 6,3 points de pourcentage.\n\n\u00ab Cette analyse met en \u00e9vidence l\u2019ampleur de l\u2019investissement n\u00e9cessaire pour respecter l\u2019engagement du Canada envers l\u2019OTAN et les r\u00e9percussions financi\u00e8res qui en d\u00e9coulent \u00bb, a d\u00e9clar\u00e9 Jason Jacques, directeur parlementaire du budget par int\u00e9rim.","release_date":"2026-02-06T09:00:00-05:00","is_published":"2026-02-06T08:57:07-05:00","appears_on_feed":false,"internal_id":"COM-2526-092","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/blog\/news-releases--communiques-de-presse\/meeting-natos-5-target-would-require-159-billion-in-core-defence-spending-by-2035-says-pbo-lobjectif-de-5-fixe-par-lotan-necessiterait-159-milliards-de-dollars-en-depenses-militaires-de-base-dici-2035-selon-le-dpb"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/blog\/news-releases--communiques-de-presse\/meeting-natos-5-target-would-require-159-billion-in-core-defence-spending-by-2035-says-pbo-lobjectif-de-5-fixe-par-lotan-necessiterait-159-milliards-de-dollars-en-depenses-militaires-de-base-dici-2035-selon-le-dpb"}}}},{"type":"Publication","date":"2026-02-05T14:00:00.000000Z","payload":{"id":"RP-2526-022-S","is_published":"2026-02-05T13:57:11.000000Z","release_date":"2026-02-05T14:00:00.000000Z","last_revised_date":null,"title_en":"Fiscal Implications of Meeting NATO\u2019s 5% Commitment","title_fr":"R\u00e9percussions financi\u00e8res de l\u2019atteinte de la cible de 5 % de l\u2019OTAN","internal_id":"RP-2526-022-S","metadata":{"abstract_en":"This report examines the fiscal implications of Canada\u2019s commitment to meet the North Atlantic Treaty Organization defence spending pledge of 5 per cent of gross domestic product by 2035.","abstract_fr":"Ce rapport examine les r\u00e9percussions financi\u00e8res de l\u2019engagement que le Canada a pris envers l\u2019Organisation du Trait\u00e9 de l\u2019Atlantique Nord d\u2019investir 5 % de son produit int\u00e9rieur brut dans le secteur de la d\u00e9fense d\u2019ici 2035.","highlights":[{"content":{"en":"Despite indicating in Budget 2025 that accelerating investments will \u201cput Canada on a pathway\u201d to meet the North Atlantic Treaty Organization (NATO) 5 per cent commitment by 2035, the Government has not published supporting projection details.","fr":"Dans le Budget 2025, on indique que le Canada acc\u00e9l\u00e8re ses investissements pour qu\u2019il \u00ab soit en bonne voie \u00bb d\u2019atteindre la cible fix\u00e9e par l\u2019Organisation du Trait\u00e9 de l\u2019Atlantique Nord (OTAN), c\u2019est-\u00e0-dire d\u2019investir 5 % de son produit int\u00e9rieur brut (PIB) d\u2019ici 2035. Le gouvernement n\u2019a cependant pas publi\u00e9 les d\u00e9tails de ses projections."}},{"content":{"en":"PBO estimates that meeting the NATO 5 per cent commitment by gradually increasing core defence spending from 2.0 per cent in 2025 to 3.5 per cent of gross domestic product (GDP) by 2035 will require additional defence spending averaging approximately $33.5 billion per year in cash expenditures over the next 10 years.","fr":"Le DPB estime que pour atteindre la cible de 5 % fix\u00e9e par l\u2019OTAN en augmentant progressivement les d\u00e9penses de d\u00e9fense de base de 2,0 % en 2025 \u00e0 3,5 % du PIB d\u2019ici 2035, il faudra consacrer en moyenne pr\u00e8s de 33,5 milliards de dollars par ann\u00e9e en d\u00e9penses au cours des dix prochaines ann\u00e9es."}},{"content":{"en":"PBO estimates that the additional core defence spending required to meet the NATO 5 per cent commitment will increase the budgetary deficit by $63.0 billion (1.4 percentage points of GDP) in 2035-36 and the federal debt-to-GDP ratio by 6.3 percentage points of GDP in 2035-36.","fr":"Le DPB estime que les d\u00e9penses suppl\u00e9mentaires en mati\u00e8re de d\u00e9fense de base n\u00e9cessaires pour respecter l\u2019engagement de 5 % envers l\u2019OTAN augmenteront le d\u00e9ficit budg\u00e9taire de 63,0 milliards de dollars (1,4 point de pourcentage du PIB) en 2035-2036 et le ratio de la dette f\u00e9d\u00e9rale au PIB de 6,3 points de pourcentage du PIB en 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C-15","internal_id":"BLOG-2526-009","updated_at":"2025-12-15T15:57:07.000000Z","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/additional-analyses--analyses-complementaires\/BLOG-2526-009--proposed-changes-borrowing-authority-act-in-bill-c-15--changements-proposes-loi-autorisant-certains-emprunts-dans-projet-loi-c-15","preview":"https:\/\/www.pbo-dpb.ca\/en\/additional-analyses--analyses-complementaires\/BLOG-2526-009--proposed-changes-borrowing-authority-act-in-bill-c-15--changements-proposes-loi-autorisant-certains-emprunts-dans-projet-loi-c-15"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/additional-analyses--analyses-complementaires\/BLOG-2526-009--proposed-changes-borrowing-authority-act-in-bill-c-15--changements-proposes-loi-autorisant-certains-emprunts-dans-projet-loi-c-15","preview":"https:\/\/www.pbo-dpb.ca\/fr\/additional-analyses--analyses-complementaires\/BLOG-2526-009--proposed-changes-borrowing-authority-act-in-bill-c-15--changements-proposes-loi-autorisant-certains-emprunts-dans-projet-loi-c-15"}},"slug":"BLOG-2526-009--proposed-changes-borrowing-authority-act-in-bill-c-15--changements-proposes-loi-autorisant-certains-emprunts-dans-projet-loi-c-15","abstract_en":"This 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pr\\\u0027{e}pos\\\u0027{e}s aux services de soutien \\`{a} la personne},\n institution={Bureau du directeur parlementaire du budget},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}"}}},{"type":"NewsRelease","date":"2025-12-02T14:00:00.000000Z","payload":{"id":91,"created_at":"2025-12-02T08:18:04-05:00","updated_at":"2025-12-02T09:02:47-05:00","slug":"build-canada-homes-forecast-to-build-26000-units-pbo-maisons-canada-prevoit-de-construire-26-000-unites-selon-le-dpb","title_en":"Build Canada Homes forecast to build 26,000 units: PBO","title_fr":"Maisons Canada pr\u00e9voit de construire 26 000 unit\u00e9s selon le DPB","body_en":"The Parliamentary Budget Officer (PBO) has released an analysis of federal housing spending and the launch of Build Canada Homes, a new agency focused on creating housing.\n\nFrom 2025\u201326 to 2029\u201330, Build Canada Homes plans to spend $7.3 billion, with $6.7 billion in new funding. Including loans and asset development, total planned disbursements will reach $13 billion, of which $11.6 billion is new money.\n\n\u201cBuild Canada Homes is expected to add only a modest amount to the housing supply,\u201d said Jason Jacques, Interim PBO. \u201cWe estimate about 26,000 units will be created over five years, a 2.1% increase in housing completions relative to our baseline projection.\u201d\n\nPlanned spending by Build Canada Homes includes:\n\u2022\t$625 million to help community housing providers buy rental apartments\n\u2022\t$1 billion in contributions for transitional and supportive housing\n\u2022\t$5.4 billion in grants, contributions, and loan concessions for affordable housing \n\n\u201cThis new agency can fund about 13,000 new units for low-income households,\u201d added Jacques. \u201cBut this comes as overall spending falls and support shifts away from programs like the Canada Housing Benefit and funding for existing social housing.\u201d\n\nThe PBO\u2019s report also finds that planned federal spending on housing programs is forecast to fall by 56%, from $9.8 billion in 2025\u201326 to $4.3 billion in 2028\u201329, despite new funding for Build Canada Homes. This drop comes from programs ending and cuts announced in Budget 2025. \n\nThe federal government says it wants to double housing construction over the next decade. However, no detailed plan to reach that goal has been released.","body_fr":"Le directeur parlementaire du budget (DPB) a publi\u00e9 une analyse portant sur les d\u00e9penses f\u00e9d\u00e9rales consacr\u00e9es au logement et sur le lancement de la nouvelle agence charg\u00e9e de cr\u00e9er des logements, Maisons Canada.\n\nDe 2025-2026 \u00e0 2029-2030, Maisons Canada pr\u00e9voit d\u00e9penser 7,3 milliards de dollars, dont 6,7 milliards en nouvelles d\u00e9penses. Si on inclut les pr\u00eats et le d\u00e9veloppement des actifs, les d\u00e9bours totaux devraient atteindre 13 milliards de dollars, dont 11,6 milliards de nouveaux d\u00e9caissements.\n\n\u00ab Maisons Canada devrait n\u2019ajouter qu\u2019une contribution modeste \u00e0 l\u2019offre de logements. \u00bb, a d\u00e9clar\u00e9 Jason Jacques, DPB par int\u00e9rim. \u00ab Nous estimons qu\u2019environ 26 000 unit\u00e9s seront construites sur une p\u00e9riode de cinq ans, ce qui repr\u00e9sente une hausse de 2,1 % des ach\u00e8vements de logements par rapport \u00e0 notre projection de r\u00e9f\u00e9rence. \u00bb\n\nLes d\u00e9penses pr\u00e9vues de Maisons Canada comprennent :\n\u2022\t625 millions de dollars pour aider les fournisseurs de logements communautaires \u00e0 acqu\u00e9rir des appartements locatifs\n\u2022\t1 milliard de dollars en contributions pour des logements de transition et des logements avec services de soutien\n\u2022\t5,4 milliards de dollars en subventions, contributions et concessions de pr\u00eats pour l\u2019offre de logements abordables. \n\n\u00ab Cette nouvelle agence peut financer la construction d\u2019environ 13 000 nouveaux logements pour les m\u00e9nages \u00e0 faible revenu \u00bb a ajout\u00e9 M. Jacques. \u00ab Cela survient alors que les d\u00e9penses globales diminuent et que le soutien se d\u00e9tourne de programmes comme l\u2019Allocation canadienne pour le logement et du financement des logements sociaux existants. \u00bb\n\nSelon le rapport du DPB, les d\u00e9penses f\u00e9d\u00e9rales consacr\u00e9es aux programmes de logements baisseront de 56 %, passant de 9,8 milliards de dollars en 2025-2026 \u00e0 4,3 milliards de dollars en 2028-2029, malgr\u00e9 le financement nouvellement accord\u00e9 \u00e0 Maisons Canada. Cette baisse est attribuable au fait que certains programmes viendront \u00e0 \u00e9ch\u00e9ance et aux compressions annonc\u00e9es dans le budget de 2025. \n\nLe gouvernement f\u00e9d\u00e9ral affirme vouloir doubler la construction de logements au cours de 10 prochaines ann\u00e9es, mais il n\u2019a rien dit des moyens qu\u2019il entend prendre pour y parvenir.","release_date":"2025-12-02T09:00:00-05:00","is_published":"2025-12-02T08:57:10-05:00","appears_on_feed":false,"internal_id":"COM-2526-091","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/blog\/news-releases--communiques-de-presse\/build-canada-homes-forecast-to-build-26000-units-pbo-maisons-canada-prevoit-de-construire-26-000-unites-selon-le-dpb"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/blog\/news-releases--communiques-de-presse\/build-canada-homes-forecast-to-build-26000-units-pbo-maisons-canada-prevoit-de-construire-26-000-unites-selon-le-dpb"}}}},{"type":"Publication","date":"2025-11-26T14:00:00.000000Z","payload":{"id":"RP-2526-021-S","is_published":"2025-11-26T13:57:08.000000Z","release_date":"2025-11-26T14:00:00.000000Z","last_revised_date":null,"title_en":"Estimating Canada\u2019s 2030 Emissions Gap","title_fr":"Estimation de l\u2019\u00e9cart avec la cible d\u2019\u00e9missions du Canada pour 2030","internal_id":"RP-2526-021-S","metadata":{"abstract_en":"This report provides estimates of the gap between Canada\u2019s projected greenhouse gas emissions in 2030 and the Government\u2019s legislated target under the Canadian Net-Zero Emissions Accountability Act.","abstract_fr":"Le rapport pr\u00e9sente des estimations de l\u2019\u00e9cart entre les \u00e9missions de gaz \u00e0 effet de serre du Canada projet\u00e9es en 2030 et la cible du gouvernement pr\u00e9vue par la Loi canadienne sur la responsabilit\u00e9 en mati\u00e8re de carboneutralit\u00e9.","highlights":[{"content":{"en":"Under PBO\u2019s updated projection that accounts for federal policy revisions earlier this year, we estimate Canada\u2019s 2030 emissions gap could range from 49 megatonnes (Mt) to 102 Mt. That is, projected emissions in 2030 could be 49 Mt to 102 Mt above the legislated target of 40-45 per cent below 2005 levels. This would leave Canada\u2019s emissions in 2030 at 33.5 per cent and 31.5 per cent, respectively, below 2005 levels.","fr":"Selon la projection mise \u00e0 jour du DPB qui tient compte des r\u00e9visions apport\u00e9es aux politiques f\u00e9d\u00e9rales plus t\u00f4t cette ann\u00e9e, nous estimons que l\u2019\u00e9cart avec la cible d\u2019\u00e9missions du Canada pour 2030 pourrait se situer entre 49 m\u00e9gatonnes (Mt) et 102 Mt. Autrement dit, les \u00e9missions projet\u00e9es pour 2030 pourraient \u00eatre de 49 Mt \u00e0 102 Mt sup\u00e9rieures \u00e0 la cible pr\u00e9vue par la loi de 40 % \u00e0 45 % sous les niveaux de 2005. Ainsi, les \u00e9missions du Canada en 2030 se situeraient respectivement \u00e0 33,5 % et \u00e0 31,5 % sous les niveaux de 2005."}},{"content":{"en":"While the legislated 2030 target puts the focus on emissions in a milestone year, it is also informative to consider the shortfall in performance over time. Based on the Government\u2019s Pathway to 2030 (40 per cent below 2005 levels), our updated projections indicate that cumulative emissions over 2025 to 2030 could exceed Pathway levels by between 221 Mt (6.7 per cent) and 289 Mt (8.8 per cent).","fr":"La cible de 2030 pr\u00e9vue par la loi est ax\u00e9e sur les \u00e9missions dans une ann\u00e9e jalon; cependant, le d\u00e9ficit de performance au fil du temps m\u00e9rite aussi d\u2019\u00eatre pris en consid\u00e9ration. Selon la Trajectoire vers 2030 du gouvernement (40 % sous les niveaux de 2005), nos projections mises \u00e0 jour indiquent que les \u00e9missions cumulatives de 2025 \u00e0 2030 pourraient d\u00e9passer les niveaux de la trajectoire de 221 Mt (6,7 %) \u00e0 289 Mt (8,8 %)."}},{"content":{"en":"Given the construction of our updated projection, PBO estimates of Canada\u2019s 2030 emissions gap should be seen as approximate. Our analysis does not attempt to account for potential interactions between the policy revisions, nor does it consider any policy revisions made by provincial and territorial governments earlier this year. That said, our estimate of the 2030 emissions gap is, on balance, lower than recent external estimates.","fr":"Compte tenu de la fa\u00e7on dont notre projection mise \u00e0 jour a \u00e9t\u00e9 cr\u00e9\u00e9e, les estimations de l\u2019\u00e9cart avec la cible d\u2019\u00e9missions du Canada pour 2030 du DPB doivent \u00eatre consid\u00e9r\u00e9es comme approximatives. Notre analyse ne tient pas compte des interactions possibles entre les r\u00e9visions apport\u00e9es aux politiques, ni des r\u00e9visions apport\u00e9es \u00e0 la politique par les gouvernements provinciaux et territoriaux plus t\u00f4t cette ann\u00e9e. Cela dit, notre estimation de l\u2019\u00e9cart avec la cible d\u2019\u00e9missions pour 2030 est, dans l\u2019ensemble, inf\u00e9rieure aux estimations externes r\u00e9centes."}}]},"updated_at":"2025-11-26T13:57:08.000000Z","type":"RP","slug":"RP-2526-021-S--estimating-canada-2030-emissions-gap--estimation-ecart-cible-emissions-canada-2030","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-021-S--estimating-canada-2030-emissions-gap--estimation-ecart-cible-emissions-canada-2030","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-021-S--estimating-canada-2030-emissions-gap--estimation-ecart-cible-emissions-canada-2030"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-021-S--estimating-canada-2030-emissions-gap--estimation-ecart-cible-emissions-canada-2030","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-021-S--estimating-canada-2030-emissions-gap--estimation-ecart-cible-emissions-canada-2030"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/047b12eceac2b265879ac61f9adf9ec965944db6ef53ddc16207abc7f32da5c0"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/646732bb57ea4f2c83344021339dfa7438e76681d9d4be8266e40277a9e9b515"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f7fbe252d00c055df78a88b8dad1fc6ded6f0d0baf171ce1c6e1a3147391cb27","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f0ec1a99dcd7f562ce535433a6255deefe146f5575fc695b9614e184786deb4c","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/aef60cff868dbba88aca15e01367ff14266d8f00dfdbc860b838f43a55403aea","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/94aef3588e61454a2e9f993dd120bb729537f0052f14aba7a403054727e6ab9c","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e57634cf0ef3b3f7d0edc6930e11ce1a2f1f63455455793fa00d27ebeb6ab83c","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4c7ae24263d1dee6a711c563289d6b52381cf0c563977d4708a5606e07dd347b","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/26c29ed3fe9462a884accb0604b34024feddc337fb078d2225bc0664e163fa07","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/86e81135cfa417729588e6d475874cf1f1150bddfb5ff86c37fc00c3d9cfa850"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/cfb81ebffda0b351da1d49a83b87bfbe298277ef36ea6b2fdc6c90b21326459f","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/95c6fb2b44a0a5797e906dcc70bf6b9cf8894cca872e2770aaa4ec63340dc8bb","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c365f8443edc4e1f30702da38639a2e605f53c1ee38a63e09843dd23d4cb8bfa","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/494411babe03c359acbda7329f0435390e2b43ff284096f5af49eb6ef3761a65","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e1cf393b900bade8548b9af57b2fb6b9cffa49e41691c243aae7928eb5265e3e","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/bc2933f9746710bc6b680a4cb1b0b552a6baa8ce15090cc7a9dc645e5883559d","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/35786bcde6cc372d719cb3604f9694cda8eeeb65066fe9966645e8e65d81eb35","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/9f2db00cb00a6a05c3492536d13aa23c6e9ca27978b504ed0db5d2412c532e8a"}}},"bills":[],"hubs":[{"id":1,"created_at":"2023-05-09T21:49:14.000000Z","updated_at":"2025-12-02T14:01:35.000000Z","slug":"climate-plans-and-targets--plans-et-cibles-climatiques","name_en":"Climate Plans and Targets","name_fr":"Plans et cibles climatiques","subtitle_en":null,"subtitle_fr":null,"description_en":"The PBO provides independent analysis of the Government of Canada\u2019s climate plans and greenhouse gas emissions targets, as well as analysis of the impacts of climate change. The Climate Plans and Targets Hub brings together the PBO\u2019s work on these issues.","description_fr":"Le DPB fournit de mani\u00e8re ind\u00e9pendante des analyses sur les plans climatiques et les cibles de r\u00e9duction des gaz \u00e0 effet de serre du gouvernement du Canada, ainsi que des analyses sur les impacts des changements climatiques. Le carrefour Plans et cibles climatiques regroupe les travaux du DPB sur ces questions.","permalinks":{"en":{"website":"\/en\/hubs--carrefours\/climate-plans-and-targets--plans-et-cibles-climatiques"},"fr":{"website":"\/fr\/hubs--carrefours\/climate-plans-and-targets--plans-et-cibles-climatiques"}},"pivot":{"hubbable_type":"App\\Publication","hubbable_id":873,"hub_id":1}}],"labels":[],"bibtex":{"en":"@techreport{PBO-RP2526021S,\n author={Ammar, Nasreddine},\n title={Estimating Canada\u2019s 2030 Emissions Gap},\n institution={The Office of the Parliamentary Budget Officer},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2526021S,\n author={Ammar, Nasreddine},\n title={Estimation de l\u2019\\\u0027{e}cart avec la cible d\u2019\\\u0027{e}missions du Canada pour 2030},\n institution={Bureau du directeur parlementaire du budget},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}"}}},{"type":"NewsRelease","date":"2025-11-26T14:00:00.000000Z","payload":{"id":90,"created_at":"2025-11-26T08:03:21-05:00","updated_at":"2025-11-26T08:57:08-05:00","slug":"pbo-reports-on-canadas-2030-emissions-gap-rapport-du-dpb-sur-lecart-du-canada-entre-les-emissions-promises-et-realisees-pour-2030","title_en":"PBO reports on Canada\u2019s 2030 emissions gap","title_fr":"Rapport du DPB sur l\u0027\u00e9cart du Canada entre les \u00e9missions promises et r\u00e9alis\u00e9es pour 2030","body_en":"The Parliamentary Budget Officer (PBO) has released a report that estimates Canada\u2019s 2030 emissions gap in response to interest from parliamentarians. The report compares Canada\u2019s projected greenhouse gas emissions in 2030 with the target set under the Canadian Net-Zero Emissions Accountability Act.\n\n\u201cUnder our updated projection, we estimate that Canada\u2019s 2030 emissions gap could range from 49 to 102 megatonnes,\u201d said Jason Jacques, Interim PBO. \u201cThis would leave Canada\u2019s emissions in 2030 at 31.5% and 33.5% below 2005 levels, short of the 40 45% legislated target.\u201d\n\nPBO\u2019s analysis uses the most recent data and projections from Environment and Climate Change Canada. It incorporates federal policy revisions announced earlier this year including the removal of the consumer carbon price, the delay to the Electric Vehicle Availability Standard, and reconsideration of the oil and gas emissions cap.\n\nThe report notes that assessing cumulative emissions between 2025 and 2030 provides broader perspective on Canada\u2019s short-term progress toward its climate goals.\n\n\u201cWhile the legislated target for 2030 focuses on a single year, it is also important to consider performance over time,\u201d added Jacques. \u201cBetween 2025 and 2030, cumulative emissions could exceed the Government\u2019s Pathway to 2030 by 221 to 289 megatonnes.\u201d","body_fr":"Le directeur parlementaire du budget (DPB) a publi\u00e9 un rapport estimant l\u2019\u00e9cart du Canada entre les \u00e9missions promises et r\u00e9alis\u00e9es pour 2030 en r\u00e9ponse \u00e0 l\u0027int\u00e9r\u00eat manifest\u00e9 par les parlementaires. Le rapport compare les \u00e9missions de gaz \u00e0 effet de serre projet\u00e9es par le Canada en 2030 avec la cible fix\u00e9e dans le cadre de la Loi canadienne sur la responsabilit\u00e9 en mati\u00e8re de carboneutralit\u00e9.\n\n\u00ab Selon notre projection actualis\u00e9e, nous estimons que l\u0027\u00e9cart entre les \u00e9missions promises et r\u00e9alis\u00e9es par le Canada en 2030 pourrait se situer entre 49 et 102 m\u00e9gatonnes \u00bb, a d\u00e9clar\u00e9 Jason Jacques, DPB int\u00e9rimaire. \u00ab Les \u00e9missions du Canada en 2030 seraient inf\u00e9rieures de 31,5 et 33,5 % par rapport aux niveaux de 2005, ce qui est en de\u00e7\u00e0 de la cible de 40 45 % pr\u00e9vue par la Loi. \u00bb\n\nL\u0027analyse du DPB s\u0027appuie sur les donn\u00e9es et les projections les plus r\u00e9centes d\u0027Environnement et Changement climatique Canada. Elle tient compte des r\u00e9visions apport\u00e9es aux politiques f\u00e9d\u00e9rales annonc\u00e9es plus t\u00f4t cette ann\u00e9e, notamment l\u2019\u00e9limination de la tarification du carbone pour les consommateurs, le report de la Norme de disponibilit\u00e9 des v\u00e9hicules \u00e9lectriques et le r\u00e9examen du plafond des \u00e9missions de p\u00e9trole et de gaz.\n\nLe rapport souligne que l\u0027\u00e9valuation des \u00e9missions cumul\u00e9es entre 2025 et 2030 offre une perspective plus large sur les progr\u00e8s \u00e0 court terme du Canada vers ses objectifs climatiques.\n\n\u00ab Bien que la cible fix\u00e9e par la Loi pour 2030 se concentre sur une seule ann\u00e9e, il faut \u00e9galement tenir compte du rendement au fil du temps \u00bb, a ajout\u00e9 M. Jacques. \u00ab Entre 2025 et 2030, les \u00e9missions cumul\u00e9es pourraient d\u00e9passer de 221 \u00e0 289 m\u00e9gatonnes la trajectoire du gouvernement vers 2030. \u00bb","release_date":"2025-11-26T09:00:00-05:00","is_published":"2025-11-26T08:57:08-05:00","appears_on_feed":false,"internal_id":"COM-2526-090","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/blog\/news-releases--communiques-de-presse\/pbo-reports-on-canadas-2030-emissions-gap-rapport-du-dpb-sur-lecart-du-canada-entre-les-emissions-promises-et-realisees-pour-2030"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/blog\/news-releases--communiques-de-presse\/pbo-reports-on-canadas-2030-emissions-gap-rapport-du-dpb-sur-lecart-du-canada-entre-les-emissions-promises-et-realisees-pour-2030"}}}},{"type":"Publication","date":"2025-11-25T14:00:00.000000Z","payload":{"id":"RP-2526-019-C","is_published":"2025-11-25T13:57:08.000000Z","release_date":"2025-11-25T14:00:00.000000Z","last_revised_date":null,"title_en":"Overview of First Nations and Inuit police funding and spending","title_fr":"Aper\u00e7u du financement et des d\u00e9penses des services de police des Premi\u00e8res Nations et des Inuits","internal_id":"RP-2526-019-C","metadata":{"abstract_en":"In response to a request by the Standing Committee on Indigenous and Northern Affairs, this report presents an overview of First Nations and Inuit police funding and spending.","abstract_fr":"En r\u00e9ponse \u00e0 une demande du Comit\u00e9 permanent des affaires autochtones et du Nord, le pr\u00e9sent rapport fournit un aper\u00e7u du financement et des d\u00e9penses des services de police des Premi\u00e8res Nations et des Inuits.","highlights":[{"content":{"en":"Over 2015-16 to 2024-25, planned federal funding for First Nations and Inuit policing through the First Nations and Inuit Policing Program (FNIPP) and the First Nations and Inuit Policing Facilities Program (FNIPFP) increased from $123 million to $395 million, representing an average annual growth rate of 12.3 per cent.","fr":"Entre 2015-2016 et 2024-2025, le financement f\u00e9d\u00e9ral pr\u00e9vu dans le cadre du Programme des services de police des Premi\u00e8res Nations et des Inuits (PSPPNI) et du Programme des installations de services de police des Premi\u00e8res Nations et des Inuits (PISPPNI) est pass\u00e9 de 123 millions de dollars \u00e0 395 millions de dollars, ce qui repr\u00e9sente un taux de croissance annuel moyen de 12,3 %."}},{"content":{"en":"Since 2021-22, program funds have not been fully spent as provincial-territorial partners faced challenges in providing their required cost-share funding to implement expanded federal funding commitments announced in Budget 2021, in part because of a misalignment of funding cycles.","fr":"Depuis 2021-2022, les fonds du programme n\u2019ont pas \u00e9t\u00e9 pleinement utilis\u00e9s en raison des difficult\u00e9s rencontr\u00e9es par les partenaires provinciaux et territoriaux pour fournir leur part du financement n\u00e9cessaire \u00e0 la mise en \u0153uvre des engagements de financement f\u00e9d\u00e9ral \u00e9largis annonc\u00e9s dans le budget de 2021. Ces difficult\u00e9s \u00e9taient en partie caus\u00e9es par une mauvaise harmonisation des cycles de financement."}},{"content":{"en":"Most stakeholders believe self-administered First Nations and Inuit police services are underfunded, and there is a need for federal legislation that recognizes First Nations policing as an essential service. While the federal government previously committed to table such legislation, the Minister of Public Safety wants to secure funding prior to its introduction. The cost of funding resulting from such federal legislation is currently not known.","fr":"La plupart des intervenants sont d\u2019avis que les services de police autog\u00e9r\u00e9s des Premi\u00e8res Nations et des Inuits souffrent d\u2019un sous-financement et estiment qu\u2019il faut \u00e9laborer une loi f\u00e9d\u00e9rale qui reconnait les services de police des Premi\u00e8res Nations comme un service essentiel. Le gouvernement f\u00e9d\u00e9ral s\u2019\u00e9tait engag\u00e9 \u00e0 d\u00e9poser une telle loi, mais le ministre de la S\u00e9curit\u00e9 publique souhaite obtenir un financement avant de la pr\u00e9senter. Les co\u00fbts de financement qui d\u00e9couleraient d\u2019une telle loi ne sont pr\u00e9sentement pas connus."}},{"content":{"en":"Following the Nishnawbe Aski Police Service opting into the *Community Safety and Policing Act* of Ontario, the estimated resources required to provide the reevaluated service levels have doubled (from about 260 officers to a plan of 500 officers). To cover 52 per cent of the cost of this planned increase would require more funding than what is currently available in the FNIPP envelope. If all First Nations and Inuit police services were to be considered essential services, even if they would not all need a doubling of resources, the FNIPP would still require significant additional funding.","fr":"\u00c0 la suite de l\u2019adh\u00e9sion du Service de police Nishnawbe Aski \u00e0 la *Loi sur la s\u00e9curit\u00e9 communautaire et les services policiers* de l\u2019Ontario, les ressources jug\u00e9es n\u00e9cessaires pour fournir les niveaux de service ad\u00e9quats ont doubl\u00e9 (passant d\u2019environ 260 policiers \u00e0 un objectif de 500 policiers). Pour couvrir 52 % du co\u00fbt de cette augmentation pr\u00e9vue, il faudrait davantage de financement que celui actuellement disponible dans l\u2019enveloppe du PSPPNI. Si tous les services de police des Premi\u00e8res Nations et des Inuits \u00e9taient consid\u00e9r\u00e9s comme des services essentiels, le PSPPNI aurait n\u00e9anmoins besoin d\u2019un financement suppl\u00e9mentaire significatif, m\u00eame si tous n\u2019auraient pas n\u00e9cessairement besoin du double des ressources."}}]},"updated_at":"2025-11-25T13:57:08.000000Z","type":"RP","slug":"RP-2526-019-C--overview-first-nations-inuit-police-funding-spending--apercu-financement-depenses-services-police-premieres-nations-inuits","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-019-C--overview-first-nations-inuit-police-funding-spending--apercu-financement-depenses-services-police-premieres-nations-inuits","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-019-C--overview-first-nations-inuit-police-funding-spending--apercu-financement-depenses-services-police-premieres-nations-inuits"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-019-C--overview-first-nations-inuit-police-funding-spending--apercu-financement-depenses-services-police-premieres-nations-inuits","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-019-C--overview-first-nations-inuit-police-funding-spending--apercu-financement-depenses-services-police-premieres-nations-inuits"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/2ff8e25bbbf09eb7ea8940b76a0f992807d689044bd3b1145a9c6e9ab2d8483b"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/0dfdc0127425750a0896336877cfb4cc498881beff11074e663b5748b200d8b0"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c01917ae8a19abf56861e5400a6c2624d614f10509f2f535c760b84d70eccdaf","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4a9d6f3b2e31ad0a5759c9bab6a8b174b205b3ebc65bdf2dac5fe9333d590ee5","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4aba3d85c80c42c37ad12043fb47adad0c089b581af1bdaff26f4c4fe5db543f","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/40214cbc91c19cd253ee7825ad2ac33ab1c391ad26adf51377452bf45df0e0c7","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/55d74984aeb035281862d50aa910cd3dd7aaf1fce3df0b0efd5d81cc929f1b16","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/dc0433e2769c99cfd7bfebd51ee6b2a29efa5d10efd7bab472351911eddcc579","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/dccdd6e88248f2700ee822ef33aa4a2939b082fee4bc8f3b4560d3869f79a18c","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/16c395cdb16416c677817491f3c193d7467d8d64502ac72a5a7504e211a1a014"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/7b6d859d4c9d077778b0ceb3421e287ceb60128842ba59b654405fbbb8c097b8","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5980a8d99927aa2baa92b2cb4a932d9d028b119deed35c88c565905dadc99593","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/8fc80cef53770f18691ba2007f50fe595aebee5c15c5aeae571759addb930878","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e198ad6e0674802b647a1275f9efbcecaed5534993f322acb6fdf6bcf0f0f013","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/371800624806e8b1d02e388fb8e1c696686bc911fc4cbe2621ea8bfe6ebb995d","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/898fd57359d68397d9d7cb5b2696162a77fd2be4c249b7d726f8261d7a8bbc5f","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/ddfbc3fed21a262aee52a0ea8f853205623dd5ccbaee3bb3a6119b3475bfc850","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6162b44da4b26c3e208112f80f31229117e933180b7aa908e6828bced3699a87"}}},"bills":[],"hubs":[],"labels":[],"bibtex":{"en":"@techreport{PBO-RP2526019C,\n author={Behrend, Robert},\n title={Overview of First Nations and Inuit police funding and spending},\n institution={The Office of the Parliamentary Budget Officer},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2526019C,\n author={Behrend, Robert},\n title={Aper\\c{c}u du financement et des d\\\u0027{e}penses des services de police des Premi\\`{e}res Nations et des Inuits},\n institution={Bureau du directeur parlementaire du budget},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}"}}},{"type":"Blog","date":"2025-11-19T16:00:00.000000Z","payload":{"id":"BLOG-2526-008","is_published":"2025-11-19T15:57:02.000000Z","release_date":"2025-11-19T16:00:00.000000Z","last_revised_date":null,"title_en":"House Price Assessment: Additional Analysis","title_fr":"\u00c9valuation du prix des propri\u00e9t\u00e9s : Analyse compl\u00e9mentaire","internal_id":"BLOG-2526-008","updated_at":"2025-11-19T15:57:02.000000Z","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/additional-analyses--analyses-complementaires\/BLOG-2526-008--house-price-assessment-additional-analysis--evaluation-prix-proprietes-analyse-complementaire","preview":"https:\/\/www.pbo-dpb.ca\/en\/additional-analyses--analyses-complementaires\/BLOG-2526-008--house-price-assessment-additional-analysis--evaluation-prix-proprietes-analyse-complementaire"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/additional-analyses--analyses-complementaires\/BLOG-2526-008--house-price-assessment-additional-analysis--evaluation-prix-proprietes-analyse-complementaire","preview":"https:\/\/www.pbo-dpb.ca\/fr\/additional-analyses--analyses-complementaires\/BLOG-2526-008--house-price-assessment-additional-analysis--evaluation-prix-proprietes-analyse-complementaire"}},"slug":"BLOG-2526-008--house-price-assessment-additional-analysis--evaluation-prix-proprietes-analyse-complementaire","abstract_en":"In response to questions from parliamentarians, this analysis considers the impact of extending the amortization period of mortgages to 40 years on house price affordability and presents mortgage debt service ratios across regions.","abstract_fr":"En r\u00e9ponse aux questions des parlementaires, cette analyse examine l\u2019incidence de l\u2019allongement de la p\u00e9riode d\u2019amortissement hypoth\u00e9caire (pour la faire passer \u00e0 40 ans) sur l\u2019accessibilit\u00e9 du prix des propri\u00e9t\u00e9s. Elle pr\u00e9sente aussi les ratios de service de la dette hypoth\u00e9caire dans diff\u00e9rentes r\u00e9gions.","hubs":[]}},{"type":"Publication","date":"2025-11-19T14:00:00.000000Z","payload":{"id":"RP-2526-018-S","is_published":"2025-11-19T13:57:09.000000Z","release_date":"2025-11-19T14:00:00.000000Z","last_revised_date":null,"title_en":"Supplementary Estimates (B) 2025-2026","title_fr":"Budget suppl\u00e9mentaire des d\u00e9penses (B) 2025-2026","internal_id":"RP-2526-018-S","metadata":{"abstract_en":"This report provides a detailed analysis of the Government\u2019s secondary Supplementary Estimates for the 2025-26 fiscal year, which seeks Parliament\u2019s approval of $10.8 billion.","abstract_fr":"Ce rapport pr\u00e9sente une analyse d\u00e9taill\u00e9e du deuxi\u00e8me Budget suppl\u00e9mentaire des d\u00e9penses du gouvernement pour l\u2019exercice 2025-2026, dans lequel ce dernier demande au Parlement d\u2019approuver des d\u00e9penses de 10,8 milliards de dollars.","highlights":[{"content":{"en":"These Supplementary Estimates outline an additional $10.7 billion in budgetary authorities, which include a $113 million decrease in forecast statutory spending. Parliament\u2019s approval is required for $10.8 billion.","fr":"Ce Budget suppl\u00e9mentaire des d\u00e9penses pr\u00e9sente des autorisations budg\u00e9taires suppl\u00e9mentaires de 10,7 milliards de dollars, dont une baisse de 113 millions de dollars des d\u00e9penses l\u00e9gislatives pr\u00e9vues. Le Parlement doit approuver des d\u00e9penses de l\u2019ordre de 10,8 milliards de dollars."}},{"content":{"en":"These Supplementary Estimates do not include funding for Budget 2025 measures.","fr":"Ce Budget suppl\u00e9mentaire des d\u00e9penses n\u2019inclut pas de financement pour des mesures du budget de 2025."}},{"content":{"en":"Major areas of planned spending include health care, Indigenous-related programs and claims, defence, and personnel.","fr":"Les principaux secteurs de d\u00e9penses pr\u00e9vues sont les soins de sant\u00e9, les programmes et les revendications li\u00e9s aux Autochtones, la d\u00e9fense et le personnel."}},{"content":{"en":"Parliamentarians have approximately 5 weeks from tabling to approve the Government\u2019s financial request.","fr":"Les parlementaires disposent d\u2019environ cinq semaines \u00e0 la suite du d\u00e9p\u00f4t pour approuver la demande financi\u00e8re du gouvernement."}}]},"updated_at":"2025-11-19T13:57:09.000000Z","type":"RP","slug":"RP-2526-018-S--supplementary-estimates-b-2025-2026--budget-supplementaire-depenses-b-2025-2026","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-018-S--supplementary-estimates-b-2025-2026--budget-supplementaire-depenses-b-2025-2026","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-018-S--supplementary-estimates-b-2025-2026--budget-supplementaire-depenses-b-2025-2026"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-018-S--supplementary-estimates-b-2025-2026--budget-supplementaire-depenses-b-2025-2026","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-018-S--supplementary-estimates-b-2025-2026--budget-supplementaire-depenses-b-2025-2026"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/9acfef1578a70b872cd8c108ecd0da1e135cdc21c7d7f036491bbb81c289ec8e"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/34b9579db6cc6db6921435d0a69501b93db6c3c98c092f2d2b9686a07dd21fe7"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b642f6101ca50094825d6594370667ee86c22f022cb4d1e2d7687bf11991e2fb","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f15d39f6ac83795cb5c29981ff640c86539f8a05b3477e512600da3682cbd1f8","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c071c75f1e7df301534d1863244266d5e036ab1d011daedf0aeaccd790b0a204","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a7421203710bf715d048a6bcc943efd2ee0ec59e17997aab4b288df18419b922","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/1c698d1a06873cdf40195d5dd046002d5464a67f0d40dec70dc2c14c06c19f52","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/52e4dd97d1c09f6ce4d7ff71b788267a2e50f65b84c9ff03e147f8bc1e3ac7ff","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b363af73a16a962218edab41e8738fd688f173feda86b2d18c67ec6d96073ee2","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d4332bc541a269797ccc6e8783ba4866aacb699542f4709f23b31f38cade0994"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b2cd38b81409ad24b5b053293a86f1c69a5de605da60e0ad288e0259766579d9","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d37399ddca48ce23077deba4c4617ec2d4baf84a02de72ffe19cbd5acf0ee2e5","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/2b6d9150d2b0da92beb2e8e0e6e58765dfef1e90e8d7b7a73dcb385ab2481e74","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/641bff044953635d63344b1b3af7dde0ed60ed6859de14ea92ce9b14edab6ebc","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/bc3152d6d24f13259ab6b23b2714703ab4ede7c114bdfedf0422c156c3b089a7","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0d1c7c467f345ec60bcb011fd6b7ce12171d5ba2c37a30f2a82cc1e5f8ec9850","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b18d18c49561c0961ca151f9d110fa276c50320656d22f94df2913903dd80cfa","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/8fc71c6d304d508192a81fe994391d428af02edf536cb51ba9d355808091f597"}}},"bills":[],"hubs":[],"labels":[],"bibtex":{"en":"@techreport{PBO-RP2526018S,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Laurin, Marianne},\n title={Supplementary Estimates (B) 2025-2026},\n institution={The Office of the Parliamentary Budget Officer},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2526018S,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Laurin, Marianne},\n title={Budget suppl\\\u0027{e}mentaire des d\\\u0027{e}penses (B) 2025-2026},\n institution={Bureau du directeur parlementaire du budget},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}"}}},{"type":"Publication","date":"2025-11-14T14:00:00.000000Z","payload":{"id":"RP-2526-017-S","is_published":"2025-11-14T13:57:10.000000Z","release_date":"2025-11-14T14:00:00.000000Z","last_revised_date":null,"title_en":"Budget 2025: Issues for Parliamentarians","title_fr":"Budget de 2025 : enjeux pour les parlementaires","internal_id":"RP-2526-017-S","metadata":{"abstract_en":"To assist parliamentarians in their budgetary deliberations, this report highlights key issues arising from Budget 2025.","abstract_fr":"Le pr\u00e9sent rapport fait ressortir les enjeux du budget de 2025 afin d\u2019aider les parlementaires dans leurs d\u00e9lib\u00e9rations budg\u00e9taires.","highlights":[{"content":{"en":"Under Budget 2025 the deficit is projected to average $64.3 billion annually over 2025-26 to 2029-30\u2014more than double that projected in the 2024 Fall Economic Statement (FES). This deterioration primarily reflects new \u201cday-to-day\u201d operating measures and increased provisions for liabilities.","fr":"Le d\u00e9ficit projet\u00e9 dans le budget de 2025 devrait s\u2019\u00e9lever \u00e0 64,3 milliards de dollars par an, en moyenne, entre 2025-2026 et 2029-2030, soit plus du double de ce qui \u00e9tait pr\u00e9vu dans l\u2019\u00c9nonc\u00e9 \u00e9conomique de l\u2019automne 2024 (EEA). Cette d\u00e9t\u00e9rioration tient principalement aux nouvelles mesures de d\u00e9penses de fonctionnement courantes ainsi qu\u2019\u00e0 l\u2019augmentation des provisions pour passifs."}},{"content":{"en":"Absent measures since the 2024 FES and measures announced in Budget 2025, the day-to-day operating balance would be in a surplus position over 2026-27 to 2029-30. New operating measures since the 2024 FES and in Budget 2025 shift the day-to-day operating balance from a surplus to a deficit position in 2026-27 and 2027-28.","fr":"En l\u2019absence de mesures adopt\u00e9es depuis l\u2019\u00c9nonc\u00e9 \u00e9conomique de l\u2019automne 2024 et de mesures annonc\u00e9es dans le budget de 2025, le solde de fonctionnement courant serait exc\u00e9dentaire de 2026-2027 \u00e0 2029-2030. Les nouvelles mesures op\u00e9rationnelles prises depuis l\u2019\u00c9nonc\u00e9 \u00e9conomique de l\u2019automne 2024 et dans le budget de 2025 font passer le solde de fonctionnement courant d\u2019une position exc\u00e9dentaire \u00e0 une position d\u00e9ficitaire en 2026-2027 et 2027-2028."}},{"content":{"en":"PBO maintains its view that the Government\u2019s definition of capital investments is overly expansive. Based on PBO\u2019s definition, capital investments would total $217.3 billion over 2024-25 to 2029-30\u2014approximately 30 per cent ($94 billion) lower compared to Budget 2025. Moreover, based on PBO\u2019s definition, the day-to-day operating balance after new measures would remain in a deficit position.","fr":"Le directeur parlementaire du budget (DPB) maintient que la d\u00e9finition que donne le gouvernement aux investissements en capital est trop large. Selon la d\u00e9finition du DPB, les investissements en capital totaliseraient 217,3 milliards de dollars entre 2024-2025 et 2029-2030, soit environ 30 % (ou 94 milliards de dollars) de moins que ce qui est indiqu\u00e9 dans le budget de 2025. En outre, selon la d\u00e9finition du DPB, le solde de fonctionnement courant apr\u00e8s les nouvelles mesures resterait d\u00e9ficitaire."}},{"content":{"en":"Given the subjectivity involved in defining federal capital investments and their role in guiding fiscal policy decisions and in assessing fiscal performance, the PBO recommends that the Government establish an independent expert body to determine which federal spending categories and measures qualify as capital investment under an expanded definition beyond the Public Accounts of Canada.","fr":"\u00c9tant donn\u00e9 le caract\u00e8re subjectif de la d\u00e9finition des investissements en capital f\u00e9d\u00e9raux et du r\u00f4le que cela exerce dans l\u2019orientation des d\u00e9cisions de politique budg\u00e9taire et l\u2019\u00e9valuation de la performance financi\u00e8re, le DPB recommande que le gouvernement mette sur pied un organe d\u2019experts ind\u00e9pendant charg\u00e9 de d\u00e9terminer quelles cat\u00e9gories et mesures de d\u00e9penses f\u00e9d\u00e9rales peuvent \u00eatre consid\u00e9r\u00e9es comme des investissements en capital selon une d\u00e9finition \u00e9largie allant au-del\u00e0 de celle qui figure dans les Comptes publics du Canada."}},{"content":{"en":"Finance Canada projects the deficit-to-gross domestic product (GDP) ratio to increase to 2.5 per cent in 2025-26, before declining over the medium term to reach 1.5 per cent in 2029-30. Based on PBO stress testing, there is a 7.5 per cent chance that the deficit-to-GDP ratio will decline in every year over 2026-27 to 2029-30. This suggests it is unlikely that the Government\u2019s declining deficit-to-GDP fiscal anchor will be respected.","fr":"Le minist\u00e8re des Finances du Canada pr\u00e9voit que le ratio du d\u00e9ficit au produit int\u00e9rieur brut (PIB) augmentera pour atteindre 2,5 % en 2025 2026, avant de diminuer \u00e0 moyen terme pour s\u2019\u00e9tablir \u00e0 1,5 % en 2029-2030. D\u2019apr\u00e8s les tests de r\u00e9sistance faits par le DPB, il y a 7,5 % de chances que le ratio du d\u00e9ficit au PIB diminue chaque ann\u00e9e entre 2026-2027 et 2029-2030. Il est donc peu probable que l\u2019ancrage budg\u00e9taire du gouvernement, qui consiste \u00e0 r\u00e9duire le d\u00e9ficit par rapport au PIB, puisse \u00eatre respect\u00e9."}},{"content":{"en":"Based on the long-term baseline projection in Budget 2025, there is limited fiscal room for the Government to reduce revenues or increase program spending while ensuring the federal debt-to-GDP ratio in 2055-56 is at or below its initial (2024-25) level. This contrasts with fiscal policy settings over the last 3 years that would have provided more fiscal room to address future challenges and risks.","fr":"Si l\u2019on se fie \u00e0 la projection de r\u00e9f\u00e9rence \u00e0 long terme du budget de 2025, le gouvernement dispose d\u2019une marge de man\u0153uvre limit\u00e9e pour r\u00e9duire les recettes ou augmenter les d\u00e9penses de programme tout en veillant \u00e0 ce que le ratio de la dette f\u00e9d\u00e9rale au PIB en 2055-2056 soit \u00e9gal ou inf\u00e9rieur \u00e0 son niveau initial (2024-2025). Cela contraste avec les orientations de la politique budg\u00e9taire des trois derni\u00e8res ann\u00e9es, qui auraient laiss\u00e9 une plus grande marge de man\u0153uvre budg\u00e9taire pour faire face aux difficult\u00e9s et risques \u00e0 venir."}}]},"updated_at":"2025-11-14T15:33:44.000000Z","type":"RP","slug":"RP-2526-017-S--budget-2025-issues-parliamentarians--budget-2025-enjeux-parlementaires","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-017-S--budget-2025-issues-parliamentarians--budget-2025-enjeux-parlementaires","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-017-S--budget-2025-issues-parliamentarians--budget-2025-enjeux-parlementaires"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-017-S--budget-2025-issues-parliamentarians--budget-2025-enjeux-parlementaires","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-017-S--budget-2025-issues-parliamentarians--budget-2025-enjeux-parlementaires"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/190ba7d3612031a7e15f5b45833a685e0e579add5a40fc0d2730ef043aeea0b1"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/11797a4a5a96402a6dff5e71d18bb4fc678ec811231050e8fc72d915c5d35c8d"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e08841cae2811e27880d501dce5832241dc4fe34dc19f4afe3decec187de3bf5","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/1a20f4ab18092d07b4521a444ab210b87423419a8fe5fdbc3a14e121267a4a3f","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/9d2b9079f7b09aaaceba9f80da40a84923056a85392109f12449c60bdb02ba98","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4c4a10d55deeadda8a99a189b7947730ed35bd681c48a52301c320b10f3a8e30","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6781bb9a6bf8ff4359e2fcae3aff84088305ea7682058d4408ed39c5bf9a3c38","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/91134b534e7e39cd35883cb453f9ea962b5b6bb29b198a87cee5f17a7fb2a3d1","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/110c41a7c0202fe3d30f209b87f2d63279a20d230d76ec962fff452a57069779","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d039c68fb3012dbb63f372e1d023235ec052381f8ec3a67679bb5fd06d862acf"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/616c4c41bd7c0a774429ff29fc2121bf654394e95b5ed04065ae7acbbae8980d","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3bd2d88773ac214b3d3d1716ea55dd33afb784f10a4e7009ac41d658200b74a2","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/40a2f134b31f66d5ec92ed4d3d0d9e8ab5c3d4076f1ad6c5f5e027c649a50b4a","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a93250fe7d1a3a4b2e82b8581064d70ae1be9636bfe1cd9ce10cf17b915fa9ae","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/84163b7b9556102c6374415d47ecab059783139209f554369c0152d2194bfab8","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/eead0848d471975a9a7bd9ce84285b122ee77dbef4134a1316fccf774844ab37","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d494a395628f808e08fe08e526dbe2abb8f21fab9fdb2cb30b8a2da237bfacc9","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/bfd4d73fe10ff2ecff87305b7fb0187ef19bf1f4a6373dd1908c6909a49433bd"}}},"bills":[],"hubs":[],"labels":[],"bibtex":{"en":"@techreport{PBO-RP2526017S,\n author={Nicol, Caroline and Stanton, Jason and Kho, Albert and Penney, Christopher E. and Vrhovsek, Zachary},\n title={Budget 2025: Issues for Parliamentarians},\n institution={The Office of the Parliamentary Budget Officer},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2526017S,\n author={Nicol, Caroline and Stanton, Jason and Kho, Albert and Penney, Christopher E. and Vrhovsek, Zachary},\n title={Budget de 2025 : enjeux pour les parlementaires},\n institution={Bureau du directeur parlementaire du budget},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}"}}},{"type":"NewsRelease","date":"2025-11-14T14:00:00.000000Z","payload":{"id":89,"created_at":"2025-11-14T08:43:48-05:00","updated_at":"2025-11-14T08:57:10-05:00","slug":"pbo-releases-review-of-budget-2025-le-dpb-publie-lexamen-du-budget-de-2025","title_en":"PBO Releases Review of Budget 2025","title_fr":"Le DPB publie l\u2019examen du budget de 2025","body_en":"The Parliamentary Budget Officer (PBO) has published [an independent assessment of Budget 2025](https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-017-S--budget-2025-issues-parliamentarians--budget-2025-enjeux-parlementaires). The report highlights financial pressures and concerns about transparency.\n\nAccording to the PBO, the Government has limited room to cut taxes or increase spending if it wants to keep the federal debt-to-GDP ratio in 2055\u201356 at or below its current level.\n\n\u201c*Budget 2025 projects the debt-to-GDP ratio will stay mostly stable over the next 30 years*,\u201d said Jason Jacques, Interim PBO. \u201c*This is different from the last three years, when fiscal policy provided more flexibility to deal with future risks*.\u201d\n\nBudget 2025 also sets out new fiscal anchors - to balance the operating budget and make sure the deficit-to-GDP ratio declines over time.\n\n\u201c*Our analysis shows there is only a 7.5% chance the deficit-to-GDP ratio will fall every year from 2026\u201327 to 2029\u201330*,\u201d Jacques said. \u201c*This means the Government\u2019s new anchor is unlikely to hold*.\u201d\n\nThe PBO also says the Government\u2019s definition of capital investment is too broad. Using the PBO\u2019s definition based on international practice, capital investments would total $217 billion from 2024\u201325 to 2029\u201330\u2014about $94 billion less than Budget 2025 estimates.\n\n\u201c*To improve transparency, an independent expert group should decide what counts as capital investment under the expanded definition*,\u201d Jacques added.","body_fr":"Le directeur parlementaire du budget (DPB) a publi\u00e9 [une \u00e9valuation ind\u00e9pendante du budget de 2025](https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-017-S--budget-2025-issues-parliamentarians--budget-2025-enjeux-parlementaires). Le rapport souligne les pressions financi\u00e8res et les pr\u00e9occupations relatives \u00e0 la transparence.\n\nSelon le DPB, le gouvernement dispose d\u2019une marge de man\u0153uvre tr\u00e8s limit\u00e9e pour r\u00e9duire les imp\u00f4ts ou augmenter les d\u00e9penses s\u2019il souhaite maintenir le ratio de la dette f\u00e9d\u00e9rale au PIB \u00e0 son niveau actuel ou en dessous en 2055-2056.\n\n\u00ab *Le budget de 2025 pr\u00e9voit que le ratio de la dette au PIB restera globalement stable au cours des 30 prochaines ann\u00e9es* \u00bb, a d\u00e9clar\u00e9 Jason Jacques, DPB par int\u00e9rim. \u00ab *Cela diff\u00e8re des trois derni\u00e8res ann\u00e9es, o\u00f9 la politique budg\u00e9taire offrait davantage de flexibilit\u00e9 pour faire face aux risques futurs*. \u00bb\n\nLe budget de 2025 modifie \u00e9galement les objectifs budg\u00e9taires du gouvernement. Les nouveaux objectifs consistent \u00e0 \u00e9quilibrer le budget de d\u00e9penses de fonctionnement courantes et \u00e0 veiller \u00e0 ce que le ratio du d\u00e9ficit au PIB diminue au fil du temps.\n\n\u00ab *Notre analyse montre qu\u2019il n\u2019y a que 7,5 % de chances que le ratio du d\u00e9ficit au PIB diminue chaque ann\u00e9e entre 2026-2027 et 2029-2030* \u00bb, a indiqu\u00e9 M. Jacques. \u00ab *Cela signifie que le nouvel objectif du gouvernement a peu de chances d\u2019\u00eatre atteint.* \u00bb\n\nLe DPB estime \u00e9galement que la d\u00e9finition du gouvernement en mati\u00e8re d\u2019investissement en capital est trop large. En utilisant la d\u00e9finition du DPB fond\u00e9e sur la pratique internationale, les investissements en capital totaliseraient 217,3 milliards de dollars entre 2024-2025 et 2029-2030, soit environ 94 milliards de dollars de moins que les estimations du budget de 2025.\n\n\u00ab *Afin d\u2019am\u00e9liorer la transparence, un groupe d\u2019experts ind\u00e9pendants devrait d\u00e9cider de ce qui constitue un investissement en capital selon une d\u00e9finition \u00e9largie* \u00bb, a ajout\u00e9 M. Jacques.","release_date":"2025-11-14T09:00:00-05:00","is_published":"2025-11-14T08:57:10-05:00","appears_on_feed":false,"internal_id":"COM-2526-089","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/blog\/news-releases--communiques-de-presse\/pbo-releases-review-of-budget-2025-le-dpb-publie-lexamen-du-budget-de-2025"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/blog\/news-releases--communiques-de-presse\/pbo-releases-review-of-budget-2025-le-dpb-publie-lexamen-du-budget-de-2025"}}}},{"type":"NewsRelease","date":"2025-11-05T15:00:00.000000Z","payload":{"id":88,"created_at":"2025-11-05T10:00:40-05:00","updated_at":"2025-11-08T10:30:22-05:00","slug":"parliamentary-budget-officer-supports-informed-debate-on-budget-2025-le-directeur-parlementaire-du-budget-entame-une-analyse-du-budget-de-2025-pour-eclairer-le-debat-sur-lavenir-financier-du-canada","title_en":"Parliamentary Budget Officer Supports Informed Debate on Budget 2025","title_fr":"Le directeur parlementaire du budget entame une analyse du budget de 2025 pour \u00e9clairer le d\u00e9bat sur l\u2019avenir financier du Canada","body_en":"The Office of the Parliamentary Budget Officer (PBO) is undertaking extensive analysis of the Government\u2019s 2025 budget. This analysis will be released in the coming weeks to coincide with parliamentary debate and committee study of the budget implementation legislation.\n\nIn the meantime, PBO will place a priority on technical questions from parliamentarians and their staff to support their deliberations.\n\nInterim Parliamentary Budget Officer Jason Jacques emphasized the importance of transparency and non-partisan analysis at this critical juncture:\n\n\u201c*With significant new spending and shifting fiscal priorities, it is essential that parliamentarians have access to clear, independent and relevant analysis,*\u201d said Mr. Jacques. \u201c*Our office is committed to providing timely analysis to support parliamentary deliberations.*\u201d","body_fr":"Le Bureau du directeur parlementaire du budget (DPB) entreprend une analyse approfondie du budget de 2025 du gouvernement f\u00e9d\u00e9ral. Cette analyse sera publi\u00e9e dans les prochaines semaines, afin de co\u00efncider avec le d\u00e9bat parlementaire et l\u0027\u00e9tude en comit\u00e9 du projet de loi d\u0027ex\u00e9cution du budget.\n\nDans l\u0027intervalle, le DPB accordera la priorit\u00e9 aux questions techniques pos\u00e9es par les parlementaires et leur personnel afin de faciliter leurs d\u00e9lib\u00e9rations.\n\nJason Jacques, le directeur parlementaire du budget par int\u00e9rim, a soulign\u00e9 l\u2019importance de la transparence et des d\u00e9lib\u00e9rations fond\u00e9es sur des donn\u00e9es probantes en ce moment d\u00e9terminant :\n\n\u00ab Compte tenu des nouvelles d\u00e9penses importantes et de l\u0027\u00e9volution des priorit\u00e9s budg\u00e9taires, il est essentiel que les parlementaires aient acc\u00e8s \u00e0 des analyses claires, ind\u00e9pendantes et pertinentes \u00bb, a d\u00e9clar\u00e9 M. Jacques. \u00ab Notre bureau s\u0027engage \u00e0 fournir des analyses opportunes pour appuyer les d\u00e9lib\u00e9rations parlementaires. \u00bb","release_date":"2025-11-05T10:00:00-05:00","is_published":"2025-11-05T10:01:08-05:00","appears_on_feed":true,"internal_id":"COM-2526-088","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/blog\/news-releases--communiques-de-presse\/parliamentary-budget-officer-supports-informed-debate-on-budget-2025-le-directeur-parlementaire-du-budget-entame-une-analyse-du-budget-de-2025-pour-eclairer-le-debat-sur-lavenir-financier-du-canada"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/blog\/news-releases--communiques-de-presse\/parliamentary-budget-officer-supports-informed-debate-on-budget-2025-le-directeur-parlementaire-du-budget-entame-une-analyse-du-budget-de-2025-pour-eclairer-le-debat-sur-lavenir-financier-du-canada"}}}},{"type":"Publication","date":"2025-10-30T13:00:00.000000Z","payload":{"id":"RP-2526-014-S","is_published":"2025-10-30T12:57:08.000000Z","release_date":"2025-10-30T13:00:00.000000Z","last_revised_date":null,"title_en":"Fiscal Implications of the Government\u2019s Purchase of Canada Mortgage Bonds","title_fr":"Incidence financi\u00e8re de l\u2019achat d\u2019Obligations hypoth\u00e9caires du Canada par le gouvernement","internal_id":"RP-2526-014-S","metadata":{"abstract_en":"This report provides an overview of the fiscal impact of the Government\u2019s commitment to purchase up to $30 billion annually in Canada Mortgage Bonds.","abstract_fr":"Ce rapport contient un aper\u00e7u des r\u00e9percussions financi\u00e8res de l\u2019engagement du gouvernement \u00e0 consacrer jusqu\u2019\u00e0 30 milliards de dollars par ann\u00e9e \u00e0 l\u2019achat d\u2019Obligations hypoth\u00e9caires du Canada.","highlights":[{"content":{"en":"In the 2023 Fall Economic Statement, the Government announced it would purchase up to $30 billion in Canada Mortgage Bonds (CMBs) each year, starting in early 2024.","fr":"Dans l\u2019\u00c9nonc\u00e9 \u00e9conomique de l\u2019automne de 2023, le gouvernement du Canada a annonc\u00e9 son intention de consacrer un maximum de 30 milliards de dollars par ann\u00e9e \u00e0 l\u2019achat d\u2019Obligations hypoth\u00e9caires du Canada (OHC) \u00e0 compter de 2024."}},{"content":{"en":"To date, the Government has purchased $50.8 billion in CMBs, which represents 48.1 per cent of the total amount of CMBs issued since February 2024.","fr":"Jusqu\u2019\u00e0 pr\u00e9sent, le gouvernement a achet\u00e9 pour 50,8 milliards de dollars d\u2019OHC, ce qui repr\u00e9sente 48,1 % de la quantit\u00e9 totale d\u2019OHC \u00e9mises depuis f\u00e9vrier 2024."}},{"content":{"en":"The yield spread between CMBs and Government of Canada bonds of similar maturity, has narrowed since the Government\u2019s purchases started, reducing its expected revenue relative to what would have been anticipated based on historical spreads.","fr":"L\u2019\u00e9cart de rendement entre les OHC et les obligations du gouvernement du Canada qui sont de dur\u00e9es similaires s\u2019est r\u00e9tr\u00e9ci depuis le d\u00e9but de ces achats; en cons\u00e9quence, les revenus ont \u00e9t\u00e9 inf\u00e9rieurs aux attentes fond\u00e9es sur le rendement pass\u00e9."}},{"content":{"en":"Increased borrowing to fund these purchases could raise the Government\u2019s overall borrowing costs, while relying on short-term debt to finance longer-term assets exposes it to higher short-term interest rates, which if realized could also reduce or offset net revenues from the purchased CMBs.","fr":"Si le gouvernement empruntait davantage pour financer ces achats, il pourrait faire grimper ses co\u00fbts d\u2019emprunt g\u00e9n\u00e9raux, et s\u2019il avait recours \u00e0 l\u2019endettement \u00e0 court terme pour financer l\u2019achat d\u2019actifs \u00e0 plus longue \u00e9ch\u00e9ance, il s\u2019exposerait \u00e0 des taux d\u2019int\u00e9r\u00eat plus \u00e9lev\u00e9s \u00e0 court terme qui pourraient faire diminuer ou dispara\u00eetre les revenus nets provenant de l\u2019achat des OHC."}},{"content":{"en":"It is uncertain whether the Government\u2019s annual maximum of $30 billion in purchases could be increased without affecting the functioning of the CMB market, which investors use as a risk management tool.","fr":"On ignore s\u2019il est possible pour le gouvernement d\u2019accro\u00eetre sa limite d\u2019achat annuelle sans nuire au fonctionnement du march\u00e9 des OHC, qui repr\u00e9sente un outil de gestion des risques pour les investisseurs."}}]},"updated_at":"2025-10-30T12:57:08.000000Z","type":"RP","slug":"RP-2526-014-S--fiscal-implications-government-purchase-canada-mortgage-bonds--incidence-financiere-achat-obligations-hypothecaires-canada-gouvernement","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-014-S--fiscal-implications-government-purchase-canada-mortgage-bonds--incidence-financiere-achat-obligations-hypothecaires-canada-gouvernement","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-014-S--fiscal-implications-government-purchase-canada-mortgage-bonds--incidence-financiere-achat-obligations-hypothecaires-canada-gouvernement"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-014-S--fiscal-implications-government-purchase-canada-mortgage-bonds--incidence-financiere-achat-obligations-hypothecaires-canada-gouvernement","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-014-S--fiscal-implications-government-purchase-canada-mortgage-bonds--incidence-financiere-achat-obligations-hypothecaires-canada-gouvernement"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/2d1540e06828f30378b1801d09c81cbd1f39b1352071eee3463771420c7a4521"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/4b633ef209a20e02d7e6dfdc1d14cc917de22052175ce1f9013a67e1df04b093"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/eb7429f05c0b6a312efc3b15fbad616850bdd9c09d986b1e7e9ab34a9a62a212","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5e720bcf9cd65ab6cb6beee4378c9bdf7141381ebc0fbbe942e55d865026747a","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4baa2eee55bafb9e0067ca59f75cb5cd26b5c1c811b6241b316a3322cefee28e","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/23a3c05604b4ad0032d8f34c94385508fd82f7c67b16ddcabf034dd0e36a21cf","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/077f6f61da4ce8abbffc4df8073ba0fca383e79cd8dc1a0f64ca186bf9454fc2","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a775570d478df25c418bc7f2afae589207bc6598086e5ad6f733934e3ea58a87","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3bf9d18e9b836d4d27fad22680a9600793897faeb1d7ffdb80d062f3654f5507","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/cf1049584daeeb32679e7e02a62e06ac23264fe86fc28195a5fd37ad54b73824"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/dbf014c8ca0e6e3a110cbada91182387f098918cbac5e56deb47b8c6c356513c","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b3e4f51dae5528ff16f35ce4cb6f4195830abe07ab7b59ccb2f7d3e5e1b7049d","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/1ed8a06e9ca2a4c292d991800389409167b16569dd2c11cb84f17b9508bae033","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f083885b60398541ff80aeb4b37638d15d13ac7eb6ea46a6625b90f45673aeb2","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5a02dea1619c0f6c06495a127666f5157e41d01f31b4c85b196070f06ec07598","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/23daeafd22e0da59b4b8639b864525eac0f6dee1e57f90e3de963656f930cebd","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/bc2fbfe241f99aeb42349fa8608ba022c4fb6d1767fa2ce2b367947a83fecc37","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0b778da877fe4360e81c7ad2002efb4f7e156e231c6fe5b914010e3b29ca807c"}}},"bills":[],"hubs":[],"labels":[],"bibtex":{"en":"@techreport{PBO-RP2526014S,\n author={Creighton, Mark},\n title={Fiscal Implications of the Government\u2019s Purchase of Canada Mortgage Bonds},\n institution={The Office of the Parliamentary Budget Officer},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2526014S,\n author={Creighton, Mark},\n title={Incidence financi\\`{e}re de l\u2019achat d\u2019Obligations hypoth\\\u0027{e}caires du Canada par le gouvernement},\n institution={Bureau du directeur parlementaire du budget},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}"}}},{"type":"Publication","date":"2025-10-30T13:00:00.000000Z","payload":{"id":"RP-2526-015-S","is_published":"2025-10-30T12:57:17.000000Z","release_date":"2025-10-30T13:00:00.000000Z","last_revised_date":null,"title_en":"Individuals adversely affected by the Middle-Class Tax Cut","title_fr":"Particuliers d\u00e9savantag\u00e9s par la r\u00e9duction d\u2019imp\u00f4t pour la classe moyenne","internal_id":"RP-2526-015-S","metadata":{"abstract_en":"In response to parliamentary interest, this report provides an analysis of tax filers that are adversely affected by the reduction in the personal income tax rate from 15 per cent to 14 per cent.","abstract_fr":"\u00c9tant donn\u00e9 l\u2019int\u00e9r\u00eat manifest\u00e9 par les parlementaires, ce rapport pr\u00e9sente une analyse des d\u00e9clarants qui sont d\u00e9savantag\u00e9s par la r\u00e9duction, de 15 % \u00e0 14 %, du taux de l\u2019imp\u00f4t sur le revenu des particuliers.","highlights":[{"content":{"en":"The Parliamentary Budget Officer (PBO) estimates that the Government\u2019s proposal to reduce the lowest personal income tax (PIT) rate from 15 per cent to 14 per cent will adversely affect 19,690 single (less than 1 per cent of single tax filers) and 19,420 couples (less than 1 per cent of couples) in 2026, increasing their federal tax payable by $141 and $155, respectively, on average.","fr":"Le directeur parlementaire du budget (DPB) estime que la proposition du gouvernement de r\u00e9duire le taux le plus bas de l\u2019imp\u00f4t sur le revenu des particuliers (IRP) de 15 % \u00e0 14 % aura un effet n\u00e9gatif sur 19 690 d\u00e9clarants c\u00e9libataires (1 % des d\u00e9clarants c\u00e9libataires) et 19 420 couples (1 % des couples) en 2026, ce qui en moyenne fera augmenter leur montant d\u2019imp\u00f4t f\u00e9d\u00e9ral \u00e0 payer de 141 $ et 155 $, respectivement."}},{"content":{"en":"Under the PIT rate reduction, adversely affected tax filers are individuals either subject to alternative minimum tax (AMT)\u2014a parallel tax calculation designed to ensure high-income earners pay a minimum amount of income tax\u2014or have taxable income and a value of non-refundable tax credits that exceed the lowest income threshold.","fr":"Dans le cadre de la r\u00e9duction du taux de l\u2019IRP, les d\u00e9clarants d\u00e9savantag\u00e9s sont soit assujettis \u00e0 l\u2019imp\u00f4t minimum de remplacement (IMR) \u2013 un calcul fiscal parall\u00e8le con\u00e7u pour que les particuliers \u00e0 revenu \u00e9lev\u00e9 paient un montant minimum d\u2019imp\u00f4t sur le revenu \u2013 ou ont un revenu imposable et une valeur de cr\u00e9dits d\u2019imp\u00f4t non remboursables qui d\u00e9passent le seuil de la premi\u00e8re tranche de revenu imposable."}},{"content":{"en":"PBO estimates that adversely affected single tax filers subject to AMT will pay an average of $127 more in federal income tax ($132 for couples) in 2026.","fr":"Le DPB estime que les d\u00e9clarants c\u00e9libataires assujettis \u00e0 l\u2019IRP qui seront d\u00e9savantag\u00e9s paieront en moyenne 127 $ de plus en imp\u00f4t f\u00e9d\u00e9ral sur le revenu (132 $ dans le cas des couples) en 2026."}},{"content":{"en":"Most adversely affected single tax filers not subject to AMT have high medical expense claims. PBO estimates they will pay an average of $166 more in federal income tax ($195 for couples) in 2026.","fr":"La plupart des d\u00e9clarants c\u00e9libataires d\u00e9savantag\u00e9s qui ne sont pas assujettis \u00e0 l\u2019AMT ont des frais m\u00e9dicaux \u00e9lev\u00e9s. Le DPB estime qu\u2019ils paieront en moyenne 166 $ de plus en imp\u00f4t f\u00e9d\u00e9ral sur le revenu (195 $ dans le cas des couples) en 2026."}},{"content":{"en":"Roughly 17 per cent of adversely affected single tax filers (35 per cent of couples) not subject to AMT claim the disability amount, though they represent less than 1 per cent of all single tax filers (less than 1 per cent for couples) claiming the disability amount.","fr":"Environ 17 % des d\u00e9clarants c\u00e9libataires d\u00e9savantag\u00e9s (35 % des couples) qui ne sont pas assujettis \u00e0 l\u2019IMR demandent le montant pour personnes handicap\u00e9es, mais ils repr\u00e9sentent moins de 1 % de l\u2019ensemble des d\u00e9clarants c\u00e9libataires qui demandent le montant pour personnes handicap\u00e9es (moins de 1 % pour les couples 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It enables users to see what has been published and provides easy access to key documents. Additionally, the tool highlights existing and upcoming PBO reports that support parliamentarians in analyzing the Government\u0027s spending plans for the current fiscal year.","description_fr":"L\u0027Explorateur du cycle financier parlementaire aide les utilisateurs \u00e0 suivre les activit\u00e9s qui se d\u00e9roulent tout au long de l\u2019exercice financier. Il permet aux utilisateurs de voir ce qui a \u00e9t\u00e9 publi\u00e9 et offre un acc\u00e8s facile \u00e0 des documents cl\u00e9s. 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The total capital envelope for this period is estimated to be $322.9 billion, with annual spending projected to peak at $25.7 billion in 2030-31.","fr":"Avec la publication en avril 2024 de *Notre Nord, fort et libre : Une vision renouvel\u00e9e pour la d\u00e9fense du Canada*, le minist\u00e8re de la D\u00e9fense nationale (MDN) a \u00e9tabli un nouvel horizon de planification de 20 ans pour les d\u00e9penses en capital, de 2024-2025 \u00e0 2043-2044. L\u2019enveloppe totale r\u00e9serv\u00e9e aux d\u00e9penses en capital pour cette p\u00e9riode est estim\u00e9e \u00e0 322,9 milliards de dollars, les d\u00e9penses annuelles devant culminer \u00e0 25,7 milliards de dollars en 2030 2031."}},{"content":{"en":"The increase in planned capital spending reflects the addition of new projects as well as revisions to existing projects under the updated defence policy. The Government\u2019s commitments to meet North Atlantic Treaty Organization spending targets contributes to this increase, though this report does not assess the capital plan relative to those targets.","fr":"La hausse des d\u00e9penses en capital pr\u00e9vues s\u2019explique par l\u2019ajout de nouveaux projets et par la r\u00e9vision de projets existants dans le cadre de la politique de d\u00e9fense actualis\u00e9e. Les engagements pris par le gouvernement pour atteindre les cibles de d\u00e9penses de l\u2019Organisation du Trait\u00e9 de l\u2019Atlantique Nord contribuent \u00e0 cette augmentation, mais le pr\u00e9sent rapport n\u2019\u00e9value pas le plan de d\u00e9penses en capital \u00e0 la lumi\u00e8re de ces cibles."}},{"content":{"en":"Preliminary figures indicate capital expenditures of approximately $10.6 billion in 2024-25, suggesting that DND has started to increase spending toward planned levels. For 2025-26, total authorities requested under Vote 5 remain below planned capital spending, indicating that additional authorities may be required.","fr":"Les chiffres pr\u00e9liminaires indiquent des d\u00e9penses en capital d\u2019environ 10,6 milliards de dollars en 2024-2025, ce qui laisse entendre que le MDN a commenc\u00e9 \u00e0 augmenter ses d\u00e9penses pour atteindre les niveaux pr\u00e9vus. Pour 2025-2026, le total des autorisations de d\u00e9penses demand\u00e9es au titre du cr\u00e9dit 5 reste inf\u00e9rieur aux d\u00e9penses en capital pr\u00e9vues, ce qui indique que des autorisations suppl\u00e9mentaires pourraient \u00eatre n\u00e9cessaires."}},{"content":{"en":"Over the period 2017-18 to 2023-24, actual capital spending fell short of planned amounts by a total of $18.5 billion.","fr":"Sur la p\u00e9riode allant de 2017-2018 \u00e0 2023-2024, les d\u00e9penses r\u00e9elles en capital ont \u00e9t\u00e9 inf\u00e9rieures aux montants pr\u00e9vus pour un total de 18,5 milliards de dollars."}}]},"updated_at":"2025-10-29T12:57:12.000000Z","type":"RP","slug":"RP-2526-016-S--planned-capital-spending-under-canada-defence-policy-2025-update--depenses-capital-prevues-titre-politique-defense-canada-mise-jour-2025","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-016-S--planned-capital-spending-under-canada-defence-policy-2025-update--depenses-capital-prevues-titre-politique-defense-canada-mise-jour-2025","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-016-S--planned-capital-spending-under-canada-defence-policy-2025-update--depenses-capital-prevues-titre-politique-defense-canada-mise-jour-2025"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-016-S--planned-capital-spending-under-canada-defence-policy-2025-update--depenses-capital-prevues-titre-politique-defense-canada-mise-jour-2025","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-016-S--planned-capital-spending-under-canada-defence-policy-2025-update--depenses-capital-prevues-titre-politique-defense-canada-mise-jour-2025"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/49de8cfcb18d8b8e6d57c3783c1e016febe5edf9ef0b8b4140e68482839f7446"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/be7b35205059d84b6ea0d0ccf4a45d525c284d699e07226b1d47318976c65e39"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/04ee708633489eaf6bbae48773f14873db2703dabec8d847a7e9a7ae597357db","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/fbab42dc717670464cbbb5f9150f87a3c68329de42a72c7d73d4841e3ab7bf92","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/bfb45d5d4fa7ad4bcb625417ec999ccbecae06515fade3a85470dcc67593edb8","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/492bdc125e8916478377bbd59f61227f608ac1782b544c734df7c122f297339c","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/94bfcfae7f244a36562e8d88ae753a0aafa2cdbe41466386844501d222565986","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0364f297bae9ddf92f4b7ac0ccba4ee94acfc4b87eedd2cf1e2da8b0ab6a1329","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/be9bab9fa6af4267e4a7f6e788a55907c21ace28582f4d26e23836ee824b82e5","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/25f2eebcad1091dcdcd7516a1bb4eba078bb9973678fff4bdb878d7320afe46c"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f2911bdacd0833a19946407081faa2a5324c94f6667e2a88aaa275944616e5cf","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/23cceeb802531cada74491dff27b1b654ee00fe76b94e01ba9d7fbaf29b8ed58","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/bee2a76f68edbc1faecee129ca96f075279725cdafcb803f9d9b51a4c403c514","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/2ab6cd54539676d35be27231fdee95041ed41cdda94af423b69ac73e997dfc49","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c140b0c973f4d2d81a4807e8d28c2e90d874b485dfd1b2b5c0e89240c03b2a90","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/9f342bd038356a47538bdd44df04756ddb1abfe68b4e75704830b2c9985e2b3d","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/cce8e9f1a8111c6e8da72bf4865004e6daadf03ecf030f06460e139090ccdf91","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/eef50ab3cca60291d1c3219af5930464cb6ca32107f98f10b2122e56abc05e88"}}},"bills":[],"hubs":[{"id":4,"created_at":"2024-10-24T18:20:06.000000Z","updated_at":"2025-10-27T12:45:21.000000Z","slug":"defence--defense","name_en":"Defence","name_fr":"D\u00e9fense","subtitle_en":null,"subtitle_fr":null,"description_en":"The Defence Hub brings together the PBO\u2019s work on Canada\u2019s defence budget and spending plans.","description_fr":"Le Carrefour de la d\u00e9fense rassemble les travaux du DPB sur le budget de la d\u00e9fense et les plans de d\u00e9penses du Canada.","permalinks":{"en":{"website":"\/en\/hubs--carrefours\/defence--defense"},"fr":{"website":"\/fr\/hubs--carrefours\/defence--defense"}},"pivot":{"hubbable_type":"App\\Publication","hubbable_id":869,"hub_id":4}}],"labels":[],"bibtex":{"en":"@techreport{PBO-RP2526016S,\n author={Kho, Albert},\n title={Planned Capital Spending under Canada\u2019s Defence Policy: 2025 Update},\n institution={The Office of the Parliamentary Budget Officer},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2526016S,\n author={Kho, Albert},\n title={D\\\u0027{e}penses en capital pr\\\u0027{e}vues au titre de la politique de d\\\u0027{e}fense du Canada : Mise \\`{a} jour de 2025},\n institution={Bureau du directeur parlementaire du budget},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}"}}},{"type":"NewsRelease","date":"2025-10-29T13:00:00.000000Z","payload":{"id":87,"created_at":"2025-10-28T19:14:20-04:00","updated_at":"2025-10-29T08:58:15-04:00","slug":"canadas-new-defence-capital-spending-plan-sets-ambitious-targets-pbo-le-nouveau-plan-de-depenses-en-capital-du-canada-pour-la-defense-prevoit-des-cibles-ambitieuses-dpb","title_en":"Canada\u2019s New Defence Capital Spending Plan Sets Ambitious Targets: PBO","title_fr":"Le nouveau plan de d\u00e9penses en capital du Canada pour la d\u00e9fense pr\u00e9voit des cibles ambitieuses : DPB","body_en":"Canada\u2019s defence capital spending is projected to reach unprecedented levels according to a [new report](https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-016-S--planned-capital-spending-under-canada-defence-policy-2025-update--depenses-capital-prevues-titre-politique-defense-canada-mise-jour-2025) from the Parliamentary Budget Officer (PBO).\n\nUnder the federal government\u2019s new defence policy, *Our North, Strong and Free: A Renewed Vision for Canada\u2019s Defence* (ONSAF), the Department of National Defence (DND) is expected to spend $322.9 billion (on a cash basis) over the next 20 years. This is $108.1 billion more than forecast in the PBO\u2019s [2024 report](https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2324-025-C--planned-capital-spending-under-canada-defence-policy-2024-update--depenses-capital-prevues-titre-politique-defense-canada-mise-jour-2024), which assessed capital spending under the previous defence policy, *Strong, Secure, Engaged* (SSE).\n\n\u201cAnnual capital spending is expected to peak at $25.7 billion in 2030-31 and remain above $10 billion for nearly every year of the plan,\u201d said Jason Jacques, interim PBO. \u201cThis increase reflects new projects initiated under ONSAF, changes to existing projects, and the policy\u2019s new 20-year timeline which extends to 2044-45.\u201d\n\nThe report does not assess how the new capital spending plan aligns with NATO spending targets.\n\nJacques also cautioned that \u201cthe scale of the planned investments is unprecedented in recent decades, but previous trends show that actual spending might fall short of projections.\u201d\n\nUnder SSE, actual capital expenditures between 2017-18 and 2023-24 were $18.5 billion less than originally projected. The new plan indicates some spending on existing capital projects has been postponed to later years.\n\n\u201cDelays in project delivery have historically led to funding being pushed into the future,\u201d Mr. Jacques noted. \u201cThis trend appears to continue under the new plan, which may face additional pressure from inflation and rising procurement costs.\u201d","body_fr":"Selon [un nouveau rapport](https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-016-S--planned-capital-spending-under-canada-defence-policy-2025-update--depenses-capital-prevues-titre-politique-defense-canada-mise-jour-2025) du directeur parlementaire du budget (DPB), les d\u00e9penses en capital du Canada pour la d\u00e9fense devraient atteindre des niveaux sans pr\u00e9c\u00e9dent.\n\nDans le cadre de la Politique de d\u00e9fense renouvel\u00e9e du gouvernement f\u00e9d\u00e9ral, intitul\u00e9e \u00ab Notre Nord, fort et libre : Une vision renouvel\u00e9e pour la d\u00e9fense du Canada \u00bb (la Politique), le minist\u00e8re de la D\u00e9fense nationale (MDN) d\u00e9pensera 322,9 milliards de dollars (selon la comptabilit\u00e9 de caisse) pour les 20 prochaines ann\u00e9es. Cela repr\u00e9sente 108,1 milliards de dollars de plus que ce qui \u00e9tait pr\u00e9vu dans le [rapport de 2024](https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2324-025-C--planned-capital-spending-under-canada-defence-policy-2024-update--depenses-capital-prevues-titre-politique-defense-canada-mise-jour-2024) du DPB, qui avait \u00e9tabli les d\u00e9penses en capital dans le cadre de la politique de d\u00e9fense ant\u00e9rieure, qui s\u2019intitulait *Protection, S\u00e9curit\u00e9, Engagement (PSE)*.\n\n\u00ab Les d\u00e9penses annuelles en capital devraient atteindre un sommet de 25,7 milliards de dollars en 2030-2031 et rester au-dessus de 10 milliards de dollars pendant pr\u00e8s de chaque ann\u00e9e du plan, a d\u00e9clar\u00e9 Jason Jacques, DPB par int\u00e9rim. Une telle augmentation d\u00e9coule de nouveaux projets lanc\u00e9s dans le cadre de la Politique, de changements aux projets en cours et du nouveau calendrier de 20 ans de la Politique, qui s\u2019\u00e9tend jusqu\u2019en 2044-2045. \u00bb\n\nDans le rapport, on n\u2019\u00e9value pas la mani\u00e8re dont le nouveau plan de d\u00e9penses en capital est harmonis\u00e9 en fonction des engagements pris aupr\u00e8s de l\u2019OTAN en ce qui a trait aux d\u00e9penses.\n\nM. Jacques a \u00e9galement pr\u00e9cis\u00e9 que \u00ab l\u2019envergure des investissements pr\u00e9vus est sans pr\u00e9c\u00e9dent au cours des r\u00e9centes d\u00e9cennies. Toutefois, les tendances ant\u00e9rieures r\u00e9v\u00e8lent que les d\u00e9penses r\u00e9elles pourraient \u00eatre loin de refl\u00e9ter les projections. \u00bb\n\nDans le cadre de la politique PSE, le budget r\u00e9el des d\u00e9penses en capital de 2017-2018 \u00e0 2023-2024 a \u00e9t\u00e9 inf\u00e9rieur de 18,5 milliards de dollars \u00e0 celui originalement pr\u00e9vu. Dans le nouveau plan, on indique que certaines d\u00e9penses relatives \u00e0 des projets d\u2019investissement existants ont \u00e9t\u00e9 report\u00e9es \u00e0 des exercices ult\u00e9rieurs.\n\n\u00ab Les retards dans la r\u00e9alisation de projets conduisent toujours \u00e0 un report de financement, indique M. Jacques. La tendance semble se maintenir dans le nouveau plan, qui pourrait subir des pressions suppl\u00e9mentaires exerc\u00e9es par l\u2019inflation et la hausse des co\u00fbts d\u2019approvisionnement. \u00bb","release_date":"2025-10-29T09:00:00-04:00","is_published":"2025-10-29T08:57:12-04:00","appears_on_feed":false,"internal_id":"COM-2526-087","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/blog\/news-releases--communiques-de-presse\/canadas-new-defence-capital-spending-plan-sets-ambitious-targets-pbo-le-nouveau-plan-de-depenses-en-capital-du-canada-pour-la-defense-prevoit-des-cibles-ambitieuses-dpb"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/blog\/news-releases--communiques-de-presse\/canadas-new-defence-capital-spending-plan-sets-ambitious-targets-pbo-le-nouveau-plan-de-depenses-en-capital-du-canada-pour-la-defense-prevoit-des-cibles-ambitieuses-dpb"}}}},{"type":"Publication","date":"2025-10-23T13:00:00.000000Z","payload":{"id":"RP-2526-013-S","is_published":"2025-10-23T12:57:08.000000Z","release_date":"2025-10-23T13:00:00.000000Z","last_revised_date":null,"title_en":"Projecting the Cost of the Disaster Financial Assistance Arrangements Program","title_fr":"Projection du co\u00fbt du programme des Accords d\u2019aide financi\u00e8re en cas de catastrophe","internal_id":"RP-2526-013-S","metadata":{"abstract_en":"This report projects the cost of the Disaster Financial Assistance Arrangements (DFAA) program over 2025 to 2034 and provides a breakdown of costs across major disaster types including floods, wildfires, and storms.","abstract_fr":"Ce rapport projette le co\u00fbt du programme des Accords d\u2019aide financi\u00e8re en cas de catastrophe (AAFCC) de 2025 \u00e0 2034 et fournit une r\u00e9partition des co\u00fbts selon les principaux types de catastrophes, notamment les inondations, les feux de for\u00eat et les temp\u00eates.","highlights":[{"content":{"en":"The Disaster Financial Assistance Arrangements (DFAA) program provides financial assistance to provincial and territorial governments following disasters caused by natural hazards. The program has provided more than $14 billion in support since its inception in 1970.","fr":"Le programme des Accords d\u2019aide financi\u00e8re en cas de catastrophe (AAFCC) fournit une aide financi\u00e8re aux gouvernements provinciaux et territoriaux \u00e0 la suite de catastrophes caus\u00e9es par des ph\u00e9nom\u00e8nes naturels. Le programme a fourni plus de 14 milliards de dollars de soutien depuis sa cr\u00e9ation en 1970."}},{"content":{"en":"Federal costs under the program have increased rapidly. PBO projects that costs will increase further from $881 million per year, on average, over 2010 to 2024 to $1.8 billion per year, on average, over 2025 to 2034. Floods are projected to be the costliest type of disaster, with DFAA support averaging $1.2 billion per year over 2025 to 2034.","fr":"Les co\u00fbts f\u00e9d\u00e9raux dans le cadre du programme ont augment\u00e9 rapidement. Le DPB pr\u00e9voit que le co\u00fbt augmentera encore de 881 millions de dollars par an, en moyenne, entre 2010 et 2024 \u00e0 1,8 milliard de dollars par an, en moyenne, entre 2025 et 2034. Les inondations devraient \u00eatre le type de catastrophe le plus co\u00fbteux, le soutien du programme des AAFCC s\u2019\u00e9levant en moyenne \u00e0 1,2 milliard de dollars par an entre 2025 et 2034."}},{"content":{"en":"Earlier this year the Government announced that the DFAA program would be updated effective April 1, 2025. The updated DFAA program is expected to increase federal assistance by 3 to 4 per cent relative to support projected under the previous structure. This incremental cost is reflected in our projection.","fr":"Plus t\u00f4t cette ann\u00e9e, le gouvernement a annonc\u00e9 que le programme des AAFCC serait mis \u00e0 jour \u00e0 compter du 1er avril 2025. Le programme des AAFCC mis \u00e0 jour devrait voir l\u2019aide f\u00e9d\u00e9rale augmenter de 3 \u00e0 4 % par rapport au soutien pr\u00e9vu dans le cadre de la structure pr\u00e9c\u00e9dente. Ce co\u00fbt suppl\u00e9mentaire se refl\u00e8te dans notre projection."}}]},"updated_at":"2025-10-23T17:37:48.000000Z","type":"RP","slug":"RP-2526-013-S--projecting-cost-disaster-financial-assistance-arrangements-program--projection-cout-programme-accords-aide-financiere-cas-catastrophe","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-013-S--projecting-cost-disaster-financial-assistance-arrangements-program--projection-cout-programme-accords-aide-financiere-cas-catastrophe","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-013-S--projecting-cost-disaster-financial-assistance-arrangements-program--projection-cout-programme-accords-aide-financiere-cas-catastrophe"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-013-S--projecting-cost-disaster-financial-assistance-arrangements-program--projection-cout-programme-accords-aide-financiere-cas-catastrophe","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-013-S--projecting-cost-disaster-financial-assistance-arrangements-program--projection-cout-programme-accords-aide-financiere-cas-catastrophe"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/da2ee975d29496c9a45f4301542dc14a103bfc2d4588388d44356e474d50d082"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/419e53b6ed696d495cce2dfd0671a22384d007643921954e77d6c201633491a9"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6ac136ebe6b0a627f421c8f9e68b086b9341072c0ebe7a75bc7905c927ef3f5c","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/da599c4b31560e2cc19c81dabcdb4fe216786b032754dff4113211776a6e18ae","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/19d73d7b9dc35cd09918e2eaea49102c8810d9db539d184975b193cb9b5b40b9","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/dd7e3b7dbda1b0ae00c46ed8771d6e32f46cacab8a89c30e5b062e412f1e92ae","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f832f8b373a841be1ddaf370afa7e30e9afc72cc84f7457d4fb2449181b4a04c","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/abc6cf2ac34b9fd208a971fbb5dcec53c4f1f197c19dd715b95823ed83c5bfb7","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/718cdd02189b4f63c0abfb8f5f9d6592ee03db2f4ec3d6c7bb8955031e97d359","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/23ea24633d46c2f1d9538e6e498f31c248a12e5616daf9a8e6b843f1d571738d"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c91d3cc2d8e53d02d98bcf8961631fe54aa5825fa1359417c230a8f144862522","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/89055bb74ddf29b1d545c2c8998b4ab09e9a63ede60488fd09e8a3697df8c18e","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/40b441df848cf9205ef6b4a6b0f9a9c756b0fcba2e6377014751bf5d1770315b","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/1b6e782559ea660ed1a1dd61897aca912d2778d30827c4ed863c8d789def9982","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/41627cc8b9e8a4fca494211bc5ed6824e56b834910ce5c87ea0f6eae2207e1bc","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c306894787c11c3bc918c1d07c0f615749d534732835ca61a60bb565f73d9fed","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/574eb739e744933d20563cae403478ebea799c70d71c30576032735ab1a6ff90","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e6d3492aad38275c18bdf785e8e6b9224abc4df3937d8c0ec9cb33ab84436f5b"}}},"bills":[],"hubs":[],"labels":[],"bibtex":{"en":"@techreport{PBO-RP2526013S,\n author={Vrhovsek, Zachary},\n title={Projecting the Cost of the Disaster Financial Assistance Arrangements Program},\n institution={The Office of the Parliamentary Budget Officer},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2526013S,\n author={Vrhovsek, Zachary},\n title={Projection du cout du programme des Accords d\u2019aide financi\\`{e}re en cas de catastrophe},\n institution={Bureau du directeur parlementaire du budget},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}"}}},{"type":"NewsRelease","date":"2025-10-23T13:00:00.000000Z","payload":{"id":86,"created_at":"2025-10-23T08:36:10-04:00","updated_at":"2025-10-23T08:57:08-04:00","slug":"federal-disaster-relief-costs-set-to-rise-further-says-pbo-les-couts-de-laide-federale-en-cas-de-catastrophe-devraient-encore-augmenter-selon-le-dpb","title_en":"Federal Disaster Relief Costs Set to Rise Further, Says PBO","title_fr":"Les co\u00fbts de l\u2019aide f\u00e9d\u00e9rale en cas de catastrophe devraient encore augmenter, selon le DPB","body_en":"The Parliamentary Budget Officer (PBO) has released a new report projecting increases in federal disaster relief spending through the Disaster Financial Assistance Arrangements (DFAA) program. \n\nThe DFAA provides financial support to provinces and territories following disasters caused by natural hazards. Since its launch in 1970, the program has delivered over $14 billion in federal aid, with the majority directed toward flooding, followed by wildfires and storms. \n\n\u201cFederal costs under the program have increased rapidly,\u201d said Jason Jacques, Interim Parliamentary Budget Officer. \u201cLooking ahead, the frequency and severity of natural hazards are expected to rise, which will put more strain on the DFAA program.\u201d \n\nThe PBO estimates that federal disaster relief costs will increase from an average of $881 million per year between 2010 and 2024 to $1.8 billion per year between 2025 and 2034. Flooding is expected to be the most expensive disaster, costing the federal government about $1.2 billion annually.\n\n\u201cThere remains a high degree of uncertainty in any given year, as natural hazards are inherently unpredictable,\u201d added Mr. Jacques.","body_fr":"Le directeur parlementaire du budget (DPB) a publi\u00e9 un nouveau rapport pr\u00e9voyant une augmentation des d\u00e9penses f\u00e9d\u00e9rales dans le cadre du programme des Accords d\u2019aide financi\u00e8re en cas de catastrophe (AAFCC).\n\nLe programme des AAFCC fournit une aide financi\u00e8re aux provinces et aux territoires \u00e0 la suite de catastrophes caus\u00e9es par des ph\u00e9nom\u00e8nes naturels. Depuis son lancement en 1970, le programme a vers\u00e9 plus de 14 milliards de dollars en aide f\u00e9d\u00e9rale, dont la majeure partie a \u00e9t\u00e9 consacr\u00e9e aux inondations, suivies par les incendies de for\u00eat et les temp\u00eates.\n\n\u00ab Les co\u00fbts f\u00e9d\u00e9raux du programme ont augment\u00e9 rapidement \u00bb, a d\u00e9clar\u00e9 Jason Jacques, directeur parlementaire du budget par int\u00e9rim. \u00ab La fr\u00e9quence et la gravit\u00e9 des catastrophes caus\u00e9es par des ph\u00e9nom\u00e8nes naturels devraient augmenter, ce qui accentuera la pression sur le programme des AAFCC. \u00bb\n\nLe DPB estime que les co\u00fbts des interventions f\u00e9d\u00e9rales en cas de catastrophe vont presque doubler, passant de 881 millions de dollars par an en moyenne entre 2010 et 2024 \u00e0 1,8 milliard de dollars par an entre 2025 et 2034. Les inondations devraient \u00eatre la catastrophe la plus co\u00fbteuse, avec un co\u00fbt annuel d\u0027environ 1,2 milliard de dollars pour le gouvernement f\u00e9d\u00e9ral.\n\n\u00ab Il subsiste beaucoup d\u2019incertitude chaque ann\u00e9e, car les catastrophes caus\u00e9es par des ph\u00e9nom\u00e8nes naturels sont, par nature, impr\u00e9visibles \u00bb, a ajout\u00e9 M. 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note provides a summary of the PBO\u2019s initial observations on the new budgeting approach, which will begin with Budget 2025.","abstract_fr":"La pr\u00e9sente note r\u00e9sume les premi\u00e8res observations du directeur parlementaire du budget (DPB) au sujet de la nouvelle approche budg\u00e9taire qui commencera par le budget de 2025.","hubs":[]}},{"type":"Publication","date":"2025-10-02T13:00:00.000000Z","payload":{"id":"RP-2526-011-S","is_published":"2025-10-02T12:57:08.000000Z","release_date":"2025-10-02T13:00:00.000000Z","last_revised_date":null,"title_en":"House Price Assessment \u2013 Update","title_fr":"\u00c9valuation du prix des propri\u00e9t\u00e9s \u2013 Mise \u00e0 jour","internal_id":"RP-2526-011-S","metadata":{"abstract_en":"This report provides an update of PBO\u2019s assessment of house prices relative to a household\u2019s capacity to borrow and pay for the purchase of a house in selected Canadian cities.","abstract_fr":"Ce rapport pr\u00e9sente une mise \u00e0 jour de l\u2019\u00e9valuation du prix des propri\u00e9t\u00e9s par rapport \u00e0 la capacit\u00e9 des m\u00e9nages d\u2019emprunter et de payer pour l\u2019achat d\u2019une maison dans certaines villes canadiennes.","highlights":[{"content":{"en":"While house prices at the national level remain well below their peak in early 2022, house price affordability has diverged across major Canadian cities.","fr":"Bien que le prix des propri\u00e9t\u00e9s \u00e0 l\u2019\u00e9chelle nationale reste bien inf\u00e9rieur au sommet atteint au d\u00e9but de 2022, l\u2019accessibilit\u00e9 du prix des propri\u00e9t\u00e9s varie d\u2019une grande ville canadienne \u00e0 l\u2019autre."}},{"content":{"en":"In Toronto and Hamilton, the gap between average house prices and what an average household can afford has narrowed significantly since early 2022. That said, house prices in Toronto and Hamilton are still well above their estimated affordable levels.","fr":"\u00c0 Toronto et \u00e0 Hamilton, l\u2019\u00e9cart entre les prix moyens des propri\u00e9t\u00e9s et ce qu\u2019un m\u00e9nage moyen peut se permettre s\u2019est consid\u00e9rablement r\u00e9duit depuis le d\u00e9but de 2022. Cela dit, le prix des propri\u00e9t\u00e9s \u00e0 Toronto et \u00e0 Hamilton est encore bien sup\u00e9rieur aux niveaux abordables estim\u00e9s."}},{"content":{"en":"Calgary, Montr\u00e9al and Qu\u00e9bec have seen the largest deterioration in house price affordability since early 2022. However, mortgage debt service ratios in these cities are still low compared to the most exuberant markets.","fr":"La plus forte d\u00e9t\u00e9rioration de l\u2019accessibilit\u00e9 du prix des propri\u00e9t\u00e9s depuis le d\u00e9but de l\u2019ann\u00e9e 2022 a \u00e9t\u00e9 observ\u00e9e \u00e0 Calgary, \u00e0 Montr\u00e9al et \u00e0 Qu\u00e9bec. Toutefois, les ratios du service de la dette hypoth\u00e9caire dans ces villes restent faibles par rapport aux march\u00e9s en plus forte effervescence."}},{"content":{"en":"Although mortgage debt service ratios have declined for average households in Toronto, Vancouver and Victoria, they remain the most financially vulnerable of the census metropolitan areas (CMA) considered in our analysis.","fr":"Bien que les ratios du service de la dette hypoth\u00e9caire aient diminu\u00e9 pour les m\u00e9nages moyens de Toronto, de Vancouver et de Victoria, ceux-ci demeurent les plus vuln\u00e9rables financi\u00e8rement parmi les r\u00e9gions m\u00e9tropolitaines de recensement (RMR) \u00e9tudi\u00e9es dans notre analyse."}}]},"updated_at":"2025-10-02T12:57:08.000000Z","type":"RP","slug":"RP-2526-011-S--house-price-assessment-update--evaluation-prix-proprietes-mise-jour","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-011-S--house-price-assessment-update--evaluation-prix-proprietes-mise-jour","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-011-S--house-price-assessment-update--evaluation-prix-proprietes-mise-jour"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-011-S--house-price-assessment-update--evaluation-prix-proprietes-mise-jour","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-011-S--house-price-assessment-update--evaluation-prix-proprietes-mise-jour"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/dbfa2cbbdf25e87952f0d9873c6909578b80ad4d911d4599551bd6917db6ad9f"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/efbd00f38b3d1f4d87e1d2ca812189272a6a734ee0e9424a3fc784268598d329"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3c556c03e3ebc719a0dfe1f3b879fe4d3bb68fdf5a15fd7b41f89794fe1d9ed5","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/df408d36b0de1d41b66bc165f5ba858d643ea689b768724af9274ab9b5e722bd","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4671a7650509c3a3706cf38922a8920782778959d2cd16ffbbdacdce7c3354a2","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/02985f2de6d8018e8c99e8434cd3bbcb28e4af28d9a5ad3eddc9284ec67ef0dd","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/1bf7229d2442ef1686d77540067c2c3f22ddbce5dc6510bef90232dd1128a181","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b36fd437445b9441ce333f60d0c1a795c1fb7c964304175602cafeeb81374bf0","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/54e42ba5017f15ea5c4db984f1f2f6c2eb98865dfcad04011166aeaafb7d6e5e","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/643df2dfd711ceac0bf1267a1c91eb94897ea9cda0f2824893de49df0ddc8f01"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/36fe0cb792ac2e3f7cb4d6b6713163c0458c883d2108d280fbcd304d3f6b63d3","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/15d0af27adf0bbde322c1e99875015c2b4870feaece296606ee4fa6848495732","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/705e9165c8d047544d16e1938e040aff38f356b1fe92845e1706876975af355e","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/599cb304a1d3f63f3e7320400b4a1e5d8284de95bfba94edfcef71b6609b4b31","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c560eb82d0d85e15ad0b2d0b9b698261917ed3f27a482028467405a626226aa0","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/9499c8accbcea14f3e12d20be780660c4579223bb5a61ffbece67f74cd19e7f6","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/275e2d342802b4c7fffe01957871f63db0bcac826f1ad60171259e12dbd0e07b","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/501754b274cd6b474ef2f2663c363e26af14992ddfb899b3c16d89ec4dac2129"}}},"bills":[],"hubs":[{"id":3,"created_at":"2024-05-16T17:19:18.000000Z","updated_at":"2025-12-02T13:23:11.000000Z","slug":"housing--habitation","name_en":"Housing","name_fr":"Habitation","subtitle_en":null,"subtitle_fr":null,"description_en":"Hubs bring together reports, data, communication products and other content on a common theme.\n\nThe Housing Hub features a range of housing-related PBO publications anddata files.","description_fr":"Les carrefours regroupent des rapports, donn\u00e9es, produits de communication et autres contenus li\u00e9s par un m\u00eame th\u00e8me.\n\nLe carrefour habitation rassemble des publications du DPB et des fichiers de donn\u00e9es en lien avec le th\u00e8me du logement.","permalinks":{"en":{"website":"\/en\/hubs--carrefours\/housing--habitation"},"fr":{"website":"\/fr\/hubs--carrefours\/housing--habitation"}},"pivot":{"hubbable_type":"App\\Publication","hubbable_id":863,"hub_id":3}}],"labels":[],"bibtex":{"en":"@techreport{PBO-RP2526011S,\n author={Cabral, James},\n title={House Price Assessment - Update},\n institution={The Office of the Parliamentary Budget Officer},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2526011S,\n author={Cabral, James},\n title={\\\u0027{E}valuation du prix des propri\\\u0027{e}t\\\u0027{e}s - Mise \\`{a} jour},\n institution={Bureau du directeur parlementaire du budget},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}"}}},{"type":"NewsRelease","date":"2025-10-02T13:00:00.000000Z","payload":{"id":85,"created_at":"2025-10-02T08:40:00-04:00","updated_at":"2025-10-02T08:57:08-04:00","slug":"home-affordability-varies-across-canada-despite-price-drops-new-pbo-report-finds-laccessibilite-a-la-propriete-varie-au-canada-malgre-la-baisse-des-prix-selon-un-nouveau-rapport-du-dpb","title_en":"Home affordability varies across Canada despite price drops, new PBO report finds","title_fr":"L\u2019accessibilit\u00e9 \u00e0 la propri\u00e9t\u00e9 varie au Canada malgr\u00e9 la baisse des prix, selon un nouveau rapport du DPB","body_en":"The Parliamentary Budget Officer (PBO) today released an updated assessment of house prices in Canada. \n\nThis report examines how house prices compare to what an average household can afford, based on typical borrowing capacity. \n\nWhile house prices at the national level remain well below their peak in early 2022, house price affordability has diverged across major Canadian cities. \n\nThe gap between the national average house price and what an average household can afford has narrowed from 80% in September 2023 to 34% in August 2025. \n\n\u201cThis shift is largely driven by slower house price growth and falling interest rates. But the picture is far from uniform,\u201d says Jason Jacques, Interim PBO. \u201cWhile some cities are seeing improvements in affordability, others are becoming increasingly out of reach for the average household.\u201d \n\nTo assess household financial vulnerability, the report compares average debt service ratios in Canadian cities to Canada Mortgage and Housing Corporation\u2019s (CMHC\u2019s) maximum Gross Debt Service (GDS) ratio, adjusted for non-mortgage expenses. While mortgage debt service ratios have declined for average households in Toronto, Vancouver and Victoria, they remain the most financially vulnerable of the census metropolitan areas (CMAs) considered in the report.","body_fr":"Le directeur parlementaire du budget (DPB) a publi\u00e9 aujourd\u2019hui une mise \u00e0 jour de son \u00e9valuation du prix des propri\u00e9t\u00e9s au Canada. \n\nCe rapport examine comment les prix des habitations se comparent \u00e0 la capacit\u00e9 de payer d\u2019un m\u00e9nage moyen, en fonction de la capacit\u00e9 d\u2019emprunt type. \n\nBien que le prix des propri\u00e9t\u00e9s \u00e0 l\u2019\u00e9chelle nationale reste bien inf\u00e9rieur au sommet atteint au d\u00e9but de 2022, l\u2019accessibilit\u00e9 varie d\u2019une grande ville canadienne \u00e0 l\u2019autre. \n\nL\u2019\u00e9cart entre le prix national moyen d\u2019une habitation et la capacit\u00e9 de payer d\u2019un m\u00e9nage moyen s\u2019est r\u00e9tr\u00e9ci, passant de 80 % en septembre 2023 \u00e0 34 % en ao\u00fbt 2025. \n\n\u00ab Ce changement est principalement attribuable au ralentissement de l\u2019augmentation des prix des habitations et \u00e0 la baisse des taux d\u2019int\u00e9r\u00eat. Mais le portrait est loin d\u2019\u00eatre uniforme, d\u00e9clare Jason Jacques, DPB par int\u00e9rim. Alors que certaines villes voient leur situation s\u2019am\u00e9liorer, d\u2019autres deviennent de plus en plus inaccessibles pour les m\u00e9nages moyens. \u00bb \n\nPour \u00e9valuer la vuln\u00e9rabilit\u00e9 financi\u00e8re des m\u00e9nages, le rapport compare les ratios moyens du service de la dette dans les villes canadiennes au coefficient du service de la dette brute de la Soci\u00e9t\u00e9 canadienne d\u2019hypoth\u00e8ques et de logement, rajust\u00e9 en fonction des d\u00e9penses non hypoth\u00e9caires. Le ratio du service de la dette hypoth\u00e9caire a diminu\u00e9 pour les m\u00e9nages moyens de Toronto, Vancouver et Victoria, mais ces r\u00e9gions demeurent les plus vuln\u00e9rables financi\u00e8rement parmi les r\u00e9gions m\u00e9tropolitaines de recensement \u00e9tudi\u00e9es dans le rapport.","release_date":"2025-10-02T09:00:00-04:00","is_published":"2025-10-02T08:57:08-04:00","appears_on_feed":false,"internal_id":"COM-2526-085","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/blog\/news-releases--communiques-de-presse\/home-affordability-varies-across-canada-despite-price-drops-new-pbo-report-finds-laccessibilite-a-la-propriete-varie-au-canada-malgre-la-baisse-des-prix-selon-un-nouveau-rapport-du-dpb"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/blog\/news-releases--communiques-de-presse\/home-affordability-varies-across-canada-despite-price-drops-new-pbo-report-finds-laccessibilite-a-la-propriete-varie-au-canada-malgre-la-baisse-des-prix-selon-un-nouveau-rapport-du-dpb"}}}},{"type":"NewsRelease","date":"2025-09-25T13:00:00.000000Z","payload":{"id":84,"created_at":"2025-09-24T16:16:51-04:00","updated_at":"2025-09-26T12:40:15-04:00","slug":"pbo-releases-latest-economic-and-fiscal-outlook-le-dpb-publie-ses-dernieres-perspectives-economiques-et-financieres","title_en":"PBO Releases Latest Economic and Fiscal Outlook","title_fr":"Le DPB publie ses derni\u00e8res Perspectives \u00e9conomiques et financi\u00e8res","body_en":"The Office of the Parliamentary Budget Officer (PBO) today released its latest Economic and Fiscal Outlook (EFO). The report provides a baseline projection to help parliamentarians gauge potential economic and fiscal outcomes under current policy settings.\n\nThe PBO projects the Canadian economy will grow by just 1.2 per cent in both 2025 and 2026, as trade uncertainty and tariffs continue to weigh on growth. While growth is projected to rebound in 2027, structurally weaker trade conditions are expected to lower the level of real GDP by 0.5 per cent by 2030.\n\nAccording to the report, \u201cthe economic outlook has deteriorated due to persistent trade tensions and the lasting impact of trade policies.\u201d\n\nThe status quo outlook includes $115.1 billion in net new spending announced since the 2024 Fall Economic Statement but does not include incremental measures to achieve the North Atlantic Treaty Organization (NATO) Defence Investment Pledge of investing 5 per cent of annual GDP, or the Government\u2019s Comprehensive Expenditure Review.\n\nIn the absence of final financial results for the previous fiscal year, the PBO estimates that there was a budgetary deficit of $51.7 billion (1.7 per cent of GDP) in 2024-25. For the current fiscal year, 2025 26, the PBO projects the deficit will increase sharply to $68.5 billion (2.2 per cent of GDP). Due to persistent budgetary deficits, the federal debt-to-GDP ratio is projected to rise above 43 per cent over the medium term.\n\nThe PBO further cautions, \u201cAbsent significant policy changes, the budgetary deficit is expected to remain elevated close to $60 billion over the medium term. The federal debt-to-GDP ratio is no longer projected to be on a declining path, which raises concerns about the long-term sustainability of current fiscal policy.\u201d","body_fr":"Le Bureau du directeur parlementaire du budget (DPB) a publi\u00e9 aujourd\u2019hui ses derni\u00e8res Perspectives \u00e9conomiques et financi\u00e8res (PEF). Ce rapport fournit des pr\u00e9visions de r\u00e9f\u00e9rence aux parlementaires pour les aider \u00e0 \u00e9valuer les r\u00e9sultats \u00e9conomiques et financiers des politiques actuelles.\n\nLe DPB pr\u00e9voit que l\u2019\u00e9conomie canadienne ne conna\u00eetra qu\u2019une croissance de 1,2 % en 2025 et en 2026, car l\u2019incertitude commerciale et les droits de douane continuent de peser sur la croissance. Alors que la croissance devrait rebondir en 2027, l\u2019affaiblissement structurel des conditions commerciales devrait faire baisser le niveau du PIB r\u00e9el de 0,5 % d\u2019ici \u00e0 2030.\n\nSelon le rapport, \u00ab les perspectives \u00e9conomiques se sont d\u00e9t\u00e9rior\u00e9es en raison des frictions commerciales persistantes et de l\u2019impact durable des politiques commerciales \u00bb.\n\nLes perspectives actuelles comprennent 115,1 milliards de dollars de nouvelles d\u00e9penses nettes annonc\u00e9es depuis l\u2019\u00c9nonc\u00e9 \u00e9conomique de l\u2019automne de 2024, mais n\u2019incluent pas les mesures suppl\u00e9mentaires visant \u00e0 respecter l\u2019engagement de l\u2019Organisation du Trait\u00e9 de l\u2019Atlantique Nord (OTAN) d\u2019investir 5 % du PIB annuel dans la d\u00e9fense, ni l\u2019examen exhaustif des d\u00e9penses du gouvernement.\n\nEn l\u2019absence de r\u00e9sultats financiers d\u00e9finitifs pour l\u2019exercice pr\u00e9c\u00e9dent, le DPB estime qu\u2019il y a eu un d\u00e9ficit budg\u00e9taire de 51,7 milliards de dollars (1,7 % du PIB) en 2024-2025. Pour l\u2019exercice en cours, soit 2025-2026, le DPB pr\u00e9voit que le d\u00e9ficit augmentera fortement pour atteindre 68,5 milliards de dollars (2,2 % du PIB). En raison des d\u00e9ficits budg\u00e9taires persistants, le ratio de la dette f\u00e9d\u00e9rale au PIB devrait d\u00e9passer 43 % \u00e0 moyen terme.\n\nLe DPB met \u00e9galement en garde : \u00ab En supposant qu\u2019aucune nouvelle mesure ne soit introduite, le d\u00e9ficit budg\u00e9taire devrait rester proche de 60 milliards de dollars \u00e0 moyen terme. Le ratio de la dette f\u00e9d\u00e9rale au PIB ne devrait plus \u00eatre sur une trajectoire descendante, ce qui soul\u00e8ve des inqui\u00e9tudes quant \u00e0 la viabilit\u00e9 \u00e0 long terme de la politique budg\u00e9taire actuelle. \u00bb","release_date":"2025-09-25T09:00:00-04:00","is_published":"2025-09-25T08:57:04-04:00","appears_on_feed":false,"internal_id":"COM-2526-084","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/blog\/news-releases--communiques-de-presse\/pbo-releases-latest-economic-and-fiscal-outlook-le-dpb-publie-ses-dernieres-perspectives-economiques-et-financieres"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/blog\/news-releases--communiques-de-presse\/pbo-releases-latest-economic-and-fiscal-outlook-le-dpb-publie-ses-dernieres-perspectives-economiques-et-financieres"}}}},{"type":"NewsRelease","date":"2025-09-18T13:00:00.000000Z","payload":{"id":83,"created_at":"2025-09-18T08:41:13-04:00","updated_at":"2025-09-22T13:11:09-04:00","slug":"pbo-estimates-159-billion-in-federal-infrastructure-spending-over-five-years-le-dpb-estime-a-159-milliards-de-dollars-sur-cinq-ans-les-depenses-en-infrastructure","title_en":"PBO Estimates $159 Billion in Federal Infrastructure Spending Over Five Years","title_fr":"Le DPB estime \u00e0 159 milliards de dollars sur cinq ans les d\u00e9penses en infrastructure","body_en":"The Parliamentary Budget Officer (PBO) has released [a new report](https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-010-S--federal-infrastructure-spending-update--depenses-federales-infrastructures-mise-jour) estimating that the Government of Canada will spend $159 billion on infrastructure between 2025-26 and 2029-30.\n\nThis estimate is based on data from federal departments and past trends. It does not include the revised NATO 5% defence spending target or additional defence-related expenditures outlined in Supplementary Estimates (A), 2025-26.\n\nWhile federal reporting on infrastructure projects has improved, the PBO finds there is still no single, timely source that provides a complete picture of total infrastructure spending. This lack of transparency makes it difficult for Parliament and Canadians to evaluate the effectiveness and fiscal impact of infrastructure spending. \n\n\u201c*Infrastructure spending is a major federal expense, yet there\u2019s no clear view of where the money is going or what impact it\u2019s having*,\u201d said Jason Jacques, Interim PBO. \u201c*This report underscores the need for more transparent and coordinated reporting so we can better understand the impact on the Government\u2019s bottom line*.\u201d","body_fr":"Le directeur parlementaire du budget (DPB) a publi\u00e9 [un nouveau rapport](https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-010-S--federal-infrastructure-spending-update--depenses-federales-infrastructures-mise-jour) dans lequel il estime \u00e0 159 milliards de dollars les d\u00e9penses publiques dans les infrastructures entre 2025-2026 et 2029-2030.\n\nCette estimation repose sur les donn\u00e9es des minist\u00e8res f\u00e9d\u00e9raux et les tendances ant\u00e9rieures. Elle ne tient pas compte de la nouvelle cible de 5 % de l\u2019OTAN pour les d\u00e9penses militaires ni des d\u00e9penses suppl\u00e9mentaires ayant trait \u00e0 la d\u00e9fense dans le Budget suppl\u00e9mentaire des d\u00e9penses (A) de 2025-2026.\n\nCertes, la d\u00e9claration par les minist\u00e8res f\u00e9d\u00e9raux des projets d\u2019infrastructure s\u2019est am\u00e9lior\u00e9e, mais le DPB constate qu\u2019il n\u2019existe toujours pas de source unique, opportune, qui brosse un portrait complet des d\u00e9penses totales en infrastructure. En raison de ce manque de transparence, il est difficile pour le Parlement et les Canadiens d\u2019\u00e9valuer l\u2019efficacit\u00e9 et l\u2019incidence fiscale des d\u00e9penses en infrastructure. \n\n\u00ab *Les d\u00e9penses en infrastructure constituent une d\u00e9pense f\u00e9d\u00e9rale importante, mais on ne sait pas clairement o\u00f9 va l\u2019argent ni quelles sont ses retomb\u00e9es*, a expliqu\u00e9 Jason Jacques, DPB par int\u00e9rim. *Ce rapport souligne la n\u00e9cessit\u00e9 d\u2019accro\u00eetre la transparence et la coordination de la d\u00e9claration afin que nous puissions mieux comprendre l\u0027impact sur les r\u00e9sultats financiers du gouvernement*. \u00bb","release_date":"2025-09-18T09:00:00-04:00","is_published":"2025-09-18T08:57:07-04:00","appears_on_feed":false,"internal_id":"COM-2526-083","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/blog\/news-releases--communiques-de-presse\/pbo-estimates-159-billion-in-federal-infrastructure-spending-over-five-years-le-dpb-estime-a-159-milliards-de-dollars-sur-cinq-ans-les-depenses-en-infrastructure"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/blog\/news-releases--communiques-de-presse\/pbo-estimates-159-billion-in-federal-infrastructure-spending-over-five-years-le-dpb-estime-a-159-milliards-de-dollars-sur-cinq-ans-les-depenses-en-infrastructure"}}}},{"type":"NewsRelease","date":"2025-09-11T13:00:00.000000Z","payload":{"id":82,"created_at":"2025-09-11T07:57:58-04:00","updated_at":"2025-09-11T08:57:07-04:00","slug":"pbo-releases-new-report-on-wealth-trends-in-canada-nouveau-rapport-du-dpb-sur-les-tendances-en-matiere-de-richesse-au-canada","title_en":"PBO releases new report on wealth trends in Canada","title_fr":"Nouveau rapport du DPB sur les tendances en mati\u00e8re de richesse au Canada","body_en":"The Parliamentary Budget Officer (PBO) has released an updated High-net-worth Families Database (HFD), showing that Canada\u2019s wealth remains heavily concentrated.\n\nIn 2023, the top 1 per cent of families held 24 per cent of total net wealth, while the top 10 per cent held 53 per cent, and the top 20 per cent held 69 per cent. The bottom 40 per cent owned just 3.3 per cent. The concentration of net wealth among the top 1 per cent has remained relatively stable since 2016.\n\nThe [PBO\u2019s report](https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2526-009-S--estimating-top-tail-family-wealth-distribution-in-canada-2025-update--estimation-extremite-superieure-distribution-patrimoine-familial-canada-mises-jour-2025) estimates that 169,400 families were in the top 1 per cent in 2023, each with at least $7.4 million in net wealth. That number is projected to rise to 176,800 families with $7.5 million by late 2024.\n\u201cThis update provides a more recent picture of wealth concentration in Canada,\u201d said Jason Jacques, Interim Parliamentary Budget Officer. \u201cBy integrating richer data sources, we can better understand the economic realities of high-net-worth families.\u201d\n\nThe High-net-worth Families Database (HFD) incorporates new data, including Maclean\u2019s 2024 Rich List and the full Survey of Financial Security, improving accuracy over previous versions. A public version of the database is available on the PBO website.","body_fr":"Le directeur parlementaire du budget (DPB) a publi\u00e9 une mise \u00e0 jour de la Base de donn\u00e9es sur les familles \u00e0 valeur nette \u00e9lev\u00e9e (BDFE), qui montrent que la richesse au Canada reste fortement concentr\u00e9e.\n\nEn 2023, le 1 % des familles les plus riches d\u00e9tenaient 24 % du patrimoine net total du pays, les 10 % les plus riches en d\u00e9tenaient 53 %, et les 20 % les plus riches, 69 % du patrimoine net total. Les 40 % inf\u00e9rieurs en poss\u00e9daient seulement 3,3 %. La concentration de la richesse nette parmi les 1 % les plus riches est rest\u00e9e relativement stable depuis 2016.\n\nDans [son rapport](https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2526-009-S--estimating-top-tail-family-wealth-distribution-in-canada-2025-update--estimation-extremite-superieure-distribution-patrimoine-familial-canada-mises-jour-2025), le DPB estime que 169 400 familles composaient le 1 % des familles les plus fortun\u00e9es en 2023, et qu\u2019elles d\u00e9tenaient chacune un patrimoine net d\u2019au moins 7,4 millions de dollars. Ce nombre devait passer \u00e0 176 800 familles d\u00e9tenant 7,5 millions de dollars \u00e0 la fin de 2024.\n\n\u00ab La mise \u00e0 jour dresse un portrait plus r\u00e9cent de la concentration de la richesse au Canada, explique Jason Jacques, directeur parlementaire du budget par int\u00e9rim. En int\u00e9grant des sources de donn\u00e9es plus riches, nous pouvons mieux comprendre les r\u00e9alit\u00e9s \u00e9conomiques des familles \u00e0 valeur nette \u00e9lev\u00e9e. \u00bb\n\nLa Base de donn\u00e9es sur les familles \u00e0 valeur nette \u00e9lev\u00e9e (BDFE) int\u00e8gre de nouvelles donn\u00e9es, notamment la liste des personnes les plus riches au Canada en 2024, du MacLean, et l\u2019ensemble des donn\u00e9es de l\u2019Enqu\u00eate sur la s\u00e9curit\u00e9 financi\u00e8re, ce qui la rend plus pr\u00e9cise que les versions pr\u00e9c\u00e9dentes. Une version publique de la base de donn\u00e9es peut \u00eatre consult\u00e9e sur le site Web du DPB.","release_date":"2025-09-11T09:00:00-04:00","is_published":"2025-09-11T08:57:07-04:00","appears_on_feed":false,"internal_id":"COM-2526-082","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/blog\/news-releases--communiques-de-presse\/pbo-releases-new-report-on-wealth-trends-in-canada-nouveau-rapport-du-dpb-sur-les-tendances-en-matiere-de-richesse-au-canada"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/blog\/news-releases--communiques-de-presse\/pbo-releases-new-report-on-wealth-trends-in-canada-nouveau-rapport-du-dpb-sur-les-tendances-en-matiere-de-richesse-au-canada"}}}},{"type":"NewsRelease","date":"2025-09-03T14:15:00.000000Z","payload":{"id":81,"created_at":"2025-09-03T10:25:58-04:00","updated_at":"2025-09-03T10:28:38-04:00","slug":"statement-from-the-interim-parliamentary-budget-officer-declaration-du-directeur-parlementaire-du-budget-par-interim","title_en":"Statement from the Interim Parliamentary Budget Officer","title_fr":"D\u00e9claration du directeur parlementaire du budget par int\u00e9rim","body_en":"I am honoured to serve Parliament as the interim Parliamentary Budget Officer during this critical time of budgetary debate. \n\nOur office remains committed to its core mandate: providing independent, non-partisan analysis of the nation\u2019s finances, the Government\u2019s estimates and the Canadian economy.\n\nAs we begin this new chapter, I first want to recognize my predecessor. I personally thank Yves Giroux for his exceptional leadership and friendship. He set a high standard of excellence, and our team is dedicated to upholding it.\n\nParliamentarians and the public can be confident that our work will continue without interruption. We will provide the clear, accessible, and transparent financial and economic analysis you expect, ensuring stability during this interim period. Our work will always be guided by evidence and a commitment to support informed debate.\n\nParliament faces key budgetary issues in the months ahead, and upcoming decisions will impact all Canadians. Our door is open. We encourage parliamentarians and their staff to reach out for briefings or with questions. We promise to be responsive, clear, and impartial.","body_fr":"C\u2019est pour moi un honneur de servir le Parlement \u00e0 titre de directeur parlementaire du budget par int\u00e9rim, \u00e0 l\u2019heure o\u00f9 se profilent d\u2019importants d\u00e9bats budg\u00e9taires. \n\nNotre bureau demeure fid\u00e8le \u00e0 son mandat principal : fournir une analyse ind\u00e9pendante et non partisane des finances du pays, des budgets de d\u00e9penses du gouvernement et de l\u2019\u00e9conomie canadienne.\n\n\u00c0 l\u2019aube de ce nouveau chapitre, je tiens tout d\u2019abord \u00e0 saluer mon pr\u00e9d\u00e9cesseur. Je remercie personnellement Yves Giroux pour son leadership exceptionnel et son amiti\u00e9. Il a fix\u00e9 de hautes normes d\u2019excellence que notre \u00e9quipe est d\u00e9termin\u00e9e \u00e0 maintenir.\n\nLes parlementaires et le public peuvent \u00eatre assur\u00e9s que notre travail se poursuivra sans interruption. Nous continuerons \u00e0 fournir les analyses financi\u00e8res et \u00e9conomiques transparentes, accessibles et claires auxquelles vous vous attendez, dans un souci de stabilit\u00e9 pendant cette p\u00e9riode de transition. Notre travail reposera toujours sur les donn\u00e9es probantes et sur notre engagement \u00e0 alimenter des d\u00e9bats \u00e9clair\u00e9s.\n\nAu cours des prochains mois, le Parlement devra se pencher sur de grandes questions budg\u00e9taires, et les d\u00e9cisions qui seront prises auront une incidence sur l\u2019ensemble des Canadiens. Notre porte est ouverte. Nous encourageons les parlementaires et leur personnel \u00e0 communiquer avec nous pour obtenir de l\u2019information ou poser des questions. Nous promettons d\u2019\u00eatre r\u00e9actifs, clairs et impartiaux.","release_date":"2025-09-03T10:15:00-04:00","is_published":"2025-09-03T10:26:02-04:00","appears_on_feed":false,"internal_id":"COM-2526-081","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/blog\/news-releases--communiques-de-presse\/statement-from-the-interim-parliamentary-budget-officer-declaration-du-directeur-parlementaire-du-budget-par-interim"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/blog\/news-releases--communiques-de-presse\/statement-from-the-interim-parliamentary-budget-officer-declaration-du-directeur-parlementaire-du-budget-par-interim"}}}},{"type":"Blog","date":"2025-07-15T13:00:00.000000Z","payload":{"id":"BLOG-2526-006","is_published":"2025-07-15T12:57:10.000000Z","release_date":"2025-07-15T13:00:00.000000Z","last_revised_date":null,"title_en":"Full-Time Equivalents in the Federal Public Service \u2013 2025-26 Departmental Plans","title_fr":"\u00c9quivalents temps plein dans la fonction publique f\u00e9d\u00e9rale \u2013 Plans minist\u00e9riels de 2025-2026","internal_id":"BLOG-2526-006","updated_at":"2025-07-15T12:57:10.000000Z","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/additional-analyses--analyses-complementaires\/BLOG-2526-006--full-time-equivalents-in-federal-public-service-2025-26-departmental-plans--equivalents-temps-plein-dans-fonction-publique-federale-plans-ministeriels-2025-2026","preview":"https:\/\/www.pbo-dpb.ca\/en\/additional-analyses--analyses-complementaires\/BLOG-2526-006--full-time-equivalents-in-federal-public-service-2025-26-departmental-plans--equivalents-temps-plein-dans-fonction-publique-federale-plans-ministeriels-2025-2026"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/additional-analyses--analyses-complementaires\/BLOG-2526-006--full-time-equivalents-in-federal-public-service-2025-26-departmental-plans--equivalents-temps-plein-dans-fonction-publique-federale-plans-ministeriels-2025-2026","preview":"https:\/\/www.pbo-dpb.ca\/fr\/additional-analyses--analyses-complementaires\/BLOG-2526-006--full-time-equivalents-in-federal-public-service-2025-26-departmental-plans--equivalents-temps-plein-dans-fonction-publique-federale-plans-ministeriels-2025-2026"}},"slug":"BLOG-2526-006--full-time-equivalents-in-federal-public-service-2025-26-departmental-plans--equivalents-temps-plein-dans-fonction-publique-federale-plans-ministeriels-2025-2026","abstract_en":"This additional analysis provides details on actual and planned full-time equivalents reported in the 2025-26 Departmental Plans.","abstract_fr":"Cette analyse compl\u00e9mentaire fournit des d\u00e9tails sur les \u00e9quivalents temps plein r\u00e9els et pr\u00e9vus indiqu\u00e9s dans les Plans minist\u00e9riels de 2025-2026.","hubs":[]}},{"type":"Blog","date":"2025-07-10T15:00:00.000000Z","payload":{"id":"BLOG-2526-005","is_published":"2025-07-10T14:57:03.000000Z","release_date":"2025-07-10T15:00:00.000000Z","last_revised_date":null,"title_en":"An Update on the Housing Accelerator Fund","title_fr":"Le point sur le Fonds pour acc\u00e9l\u00e9rer la construction de logements","internal_id":"BLOG-2526-005","updated_at":"2025-07-10T14:57:03.000000Z","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/additional-analyses--analyses-complementaires\/BLOG-2526-005--an-update-housing-accelerator-fund--point-fonds-accelerer-construction-logements","preview":"https:\/\/www.pbo-dpb.ca\/en\/additional-analyses--analyses-complementaires\/BLOG-2526-005--an-update-housing-accelerator-fund--point-fonds-accelerer-construction-logements"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/additional-analyses--analyses-complementaires\/BLOG-2526-005--an-update-housing-accelerator-fund--point-fonds-accelerer-construction-logements","preview":"https:\/\/www.pbo-dpb.ca\/fr\/additional-analyses--analyses-complementaires\/BLOG-2526-005--an-update-housing-accelerator-fund--point-fonds-accelerer-construction-logements"}},"slug":"BLOG-2526-005--an-update-housing-accelerator-fund--point-fonds-accelerer-construction-logements","abstract_en":"The Housing Accelerator Fund (HAF) is allocated $4.44 billion over 5 years. Under the HAF, CMHC has committed $4.37 billion in funding towards 230 agreements with sub-national governments. Under these agreements, sub-national governments have agreed to undertake a variety of housing initiatives towards an aggregate target of supplying 112,000 more housing units by 2028 than would have otherwise been created. Very little of the funding allocated under the HAF was spent in its first year. Jurisdictions participating in the HAF issued permits for 31% more units and saw 5% more housing starts than their 2018 to 2023 average. This was both more permits and more starts than non-participating jurisdictions. Changes are not consistent across participating jurisdictions, with increases in the Province of Quebec, Calgary Census Metropolitan Area (CMA) and Edmonton CMA largely offset by decreases in the Toronto CMA and other areas of Ontario. Increases in permits and starts in the Province of Quebec, Calgary and Edmonton likely reflect rezoning initiatives that were already well underway or had received legislative approval prior to the signing of those jurisdiction\u2019s Housing Accelerator Fund Agreements.","abstract_fr":"Le Fonds pour acc\u00e9l\u00e9rer la construction de logements (FACL) s\u2019est vu allouer 4,44 milliards de dollars sur cinq ans. Dans le cadre de ce fonds, la SCHL s\u2019est engag\u00e9e \u00e0 verser 4,37 milliards de dollars pour 230 ententes conclues avec des administrations infranationales. Conform\u00e9ment \u00e0 ces ententes, les administrations infranationales ont convenu de lancer diverses initiatives en mati\u00e8re de logement pour atteindre l\u2019objectif global de cr\u00e9er, d\u2019ici 2028, 112 000 logements de plus que ceux qui auraient \u00e9t\u00e9 autrement construits. Tr\u00e8s peu de fonds allou\u00e9s dans le cadre du FACL ont \u00e9t\u00e9 d\u00e9pens\u00e9s au cours de la premi\u00e8re ann\u00e9e. Les administrations participantes au FACL ont d\u00e9livr\u00e9 31 % de permis de plus, et ont enregistr\u00e9 5 % de mises en chantier de plus par rapport \u00e0 leur moyenne de 2018 \u00e0 2023. Le nombre de permis d\u00e9livr\u00e9s et de mises en chantier a toutefois \u00e9t\u00e9 plus \u00e9lev\u00e9 que dans les administrations non participantes. Les changements diff\u00e8rent d\u2019une administration participante \u00e0 l\u2019autre; en effet, les augmentations enregistr\u00e9es au Qu\u00e9bec, dans la r\u00e9gion m\u00e9tropolitaine de recensement (RMR) de Calgary et dans la RMR d\u2019Edmonton ont \u00e9t\u00e9 largement contrebalanc\u00e9es par r\u00e9ductions en la RMR de Toronto et d\u2019autres r\u00e9gions de l\u2019Ontario. Les augmentations du nombre de permis et de mises en chantier dans la province du Qu\u00e9bec, \u00e0 Calgary et \u00e0 Edmonton sont dues probablement \u00e0 des initiatives de changement de zonage qui \u00e9taient d\u00e9j\u00e0 bien avanc\u00e9es ou qui avaient \u00e9t\u00e9 approuv\u00e9es par voie l\u00e9gislative avant la signature avec ces administrations des ententes relatives au Fonds pour acc\u00e9l\u00e9rer la construction de logements.","hubs":[{"id":3,"created_at":"2024-05-16T17:19:18.000000Z","updated_at":"2025-12-02T13:23:11.000000Z","slug":"housing--habitation","name_en":"Housing","name_fr":"Habitation","subtitle_en":null,"subtitle_fr":null,"description_en":"Hubs bring together reports, data, communication products and other content on a common theme.\n\nThe Housing Hub features a range of housing-related PBO publications anddata files.","description_fr":"Les carrefours regroupent des rapports, donn\u00e9es, produits de communication et autres contenus li\u00e9s par un m\u00eame th\u00e8me.\n\nLe carrefour habitation rassemble des publications du DPB et des fichiers de donn\u00e9es en lien avec le th\u00e8me du logement.","permalinks":{"en":{"website":"\/en\/hubs--carrefours\/housing--habitation"},"fr":{"website":"\/fr\/hubs--carrefours\/housing--habitation"}},"pivot":{"hubbable_type":"App\\Blog","hubbable_id":74,"hub_id":3}}]}},{"type":"Blog","date":"2025-07-10T15:00:00.000000Z","payload":{"id":"BLOG-2526-004","is_published":"2025-07-10T14:57:03.000000Z","release_date":"2025-07-10T15:00:00.000000Z","last_revised_date":null,"title_en":"An Update on the Canada Housing Infrastructure Fund","title_fr":"Le point sur le Fonds canadien pour les infrastructures li\u00e9es au logement","internal_id":"BLOG-2526-004","updated_at":"2025-07-10T14:57:03.000000Z","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/additional-analyses--analyses-complementaires\/BLOG-2526-004--an-update-canada-housing-infrastructure-fund--point-fonds-canadien-infrastructures-liees-logement","preview":"https:\/\/www.pbo-dpb.ca\/en\/additional-analyses--analyses-complementaires\/BLOG-2526-004--an-update-canada-housing-infrastructure-fund--point-fonds-canadien-infrastructures-liees-logement"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/additional-analyses--analyses-complementaires\/BLOG-2526-004--an-update-canada-housing-infrastructure-fund--point-fonds-canadien-infrastructures-liees-logement","preview":"https:\/\/www.pbo-dpb.ca\/fr\/additional-analyses--analyses-complementaires\/BLOG-2526-004--an-update-canada-housing-infrastructure-fund--point-fonds-canadien-infrastructures-liees-logement"}},"slug":"BLOG-2526-004--an-update-canada-housing-infrastructure-fund--point-fonds-canadien-infrastructures-liees-logement","abstract_en":"The Canada Housing Infrastructure Fund (CHIF) is allocated $5.7 billion over 10-years. Funding ramps up over 6 years, reaching a peak of $972 million in planned spending in 2029-30. Funding was initially allocated primarily to the provincial and territorial agreements stream. However, agreements have not yet been signed with three of Canada\u2019s largest provinces and if agreements are not signed, the $3.0 billion in HICC funding allocated for these provinces would be reallocated to the direct delivery stream. The CHIF is just one of a wide range of transfer payments to sub-national government to support infrastructure.","abstract_fr":"Le Fonds canadien pour les infrastructures li\u00e9es au logement (FCIL) s\u2019est vu allouer 5,7 milliards de dollars sur 10 ans. Le financement augmentera progressivement sur six ans pour atteindre un sommet de 972 millions de dollars de d\u00e9penses pr\u00e9vues en 2029-2030. Au d\u00e9part, le financement a \u00e9t\u00e9 affect\u00e9 principalement au volet des ententes provinciales et territoriales. Or, des ententes n\u2019ont pas encore \u00e9t\u00e9 sign\u00e9es avec trois des plus grandes provinces canadiennes, et s\u2019il n\u2019y a pas de signature, les 3,0 milliards de dollars de financement de LICC allou\u00e9s \u00e0 ces provinces seront r\u00e9affect\u00e9s au volet de prestation directe. Le FCIL ne repr\u00e9sente qu\u2019un des nombreux paiements de transfert faits aux administrations infranationales pour soutenir les infrastructures.","hubs":[{"id":3,"created_at":"2024-05-16T17:19:18.000000Z","updated_at":"2025-12-02T13:23:11.000000Z","slug":"housing--habitation","name_en":"Housing","name_fr":"Habitation","subtitle_en":null,"subtitle_fr":null,"description_en":"Hubs bring together reports, data, communication products and other content on a common theme.\n\nThe Housing Hub features a range of housing-related PBO publications anddata files.","description_fr":"Les carrefours regroupent des rapports, donn\u00e9es, produits de communication et autres contenus li\u00e9s par un m\u00eame th\u00e8me.\n\nLe carrefour habitation rassemble des publications du DPB et des fichiers de donn\u00e9es en lien avec le th\u00e8me du logement.","permalinks":{"en":{"website":"\/en\/hubs--carrefours\/housing--habitation"},"fr":{"website":"\/fr\/hubs--carrefours\/housing--habitation"}},"pivot":{"hubbable_type":"App\\Blog","hubbable_id":73,"hub_id":3}}]}},{"type":"NewsRelease","date":"2025-06-19T13:00:00.000000Z","payload":{"id":80,"created_at":"2025-06-19T07:32:54-04:00","updated_at":"2025-06-19T08:57:10-04:00","slug":"canadian-economy-to-stall-in-the-second-quarter-due-to-tariffs-says-pbo-leconomie-canadienne-devrait-stagner-au-deuxieme-trimestre-en-raison-des-droits-de-douane-selon-le-dpb","title_en":"Canadian economy to stall in the second quarter due to tariffs, says PBO","title_fr":"L\u0027\u00e9conomie canadienne devrait stagner au deuxi\u00e8me trimestre en raison des droits de douane, selon le DPB","body_en":"The Parliamentary Budget Officer (PBO) today released his latest estimates for near-term growth in the Canadian economy and the federal government\u2019s budgetary outlook for 2024-25.\nCanada\u2019s real gross domestic product (GDP) grew by a stronger-than-expected 2.2 per cent in the first quarter of 2025, driven by a surge in exports and inventory accumulation as businesses prepared for new U.S. tariffs. \n\nHowever, in the June 2025 Economic and Fiscal Monitor, the PBO projects real GDP growth to be flat in the second quarter, as the effects of pre-tariff stockpiling unwind, and new U.S. trade measures begin to weigh on Canadian exports.\n\n\u201cThe first quarter\u2019s growth reflects a temporary boost from businesses front-loading shipments ahead of U.S. tariffs,\u201d said Yves Giroux, Parliamentary Budget Officer. \u201cWe expect growth to stall in the second quarter as the adverse impact of tariffs begins to materialize.\u201d\n\nFor the 2024-25 fiscal year, the PBO projects that the Government\u2019s budgetary deficit will be $46.0 billion (1.5 per cent of GDP). The updated deficit estimate is $4.3 billion lower than the PBO\u2019s projection in the 2025 Election Proposal Costing baseline, which did not include the impact of tariffs or retaliatory measures. \n\nThe debt-to-GDP ratio is estimated to decline to 41.5 per cent of GDP in 2024-25, from 42.1 per cent in 2023-24.\n\nThe Government has also introduced a new Operating Budget fiscal anchor, with a commitment to balance this \u201cbudget\u201d by 2028\u201329. However, the PBO notes that the lack of clarity around what would be defined as \u201coperating\u201d or \u201cnon-operating\/capital\u201d spending makes it difficult to assess whether current fiscal policies align with this objective.\n\n\u201cWithout a clear definition of what counts as operating spending, it\u2019s impossible to evaluate whether the government is on track to meet its new fiscal anchor,\u201d added Mr. Giroux.","body_fr":"Le directeur parlementaire du budget (DPB) a publi\u00e9 aujourd\u2019hui ses plus r\u00e9centes estimations en ce qui concerne la croissance \u00e0 court terme de l\u2019\u00e9conomie canadienne et les perspectives budg\u00e9taires du gouvernement f\u00e9d\u00e9ral pour 2024-2025.\n\nLe produit int\u00e9rieur brut (PIB) r\u00e9el du Canada a enregistr\u00e9 une croissance sup\u00e9rieure aux pr\u00e9visions, soit 2,2 %, au premier trimestre de 2025, gr\u00e2ce \u00e0 une forte augmentation des exportations et \u00e0 l\u2019accumulation de stocks par les entreprises qui s\u2019\u00e9taient pr\u00e9par\u00e9es \u00e0 l\u2019entr\u00e9e en vigueur des nouveaux droits de douane am\u00e9ricains.\n\nToutefois, dans le Suivi \u00e9conomique et financier de juin 2025, le DPB pr\u00e9voit que la croissance du PIB r\u00e9el restera stable au deuxi\u00e8me trimestre, \u00e0 mesure que les effets de la constitution de stocks avant l\u2019entr\u00e9e en vigueur des droits de douane s\u2019estomperont et que les nouvelles mesures commerciales am\u00e9ricaines commenceront \u00e0 peser sur les exportations canadiennes.\n\n\u00ab La croissance du premier trimestre s\u2019explique par une augmentation temporaire des exp\u00e9ditions des entreprises avant l\u2019entr\u00e9e en vigueur des droits de douane am\u00e9ricains, a d\u00e9clar\u00e9 Yves Giroux, directeur parlementaire du budget. Nous anticipons un ralentissement de la croissance au deuxi\u00e8me trimestre, \u00e0 mesure que les effets n\u00e9fastes des droits de douane commenceront \u00e0 se faire sentir. \u00bb\n\nPour l\u2019exercice 2024-2025, le DPB pr\u00e9voit que le d\u00e9ficit budg\u00e9taire du gouvernement s\u2019\u00e9l\u00e8vera \u00e0 46,0 milliards de dollars (1,5 % du PIB). Cette nouvelle estimation du d\u00e9ficit est inf\u00e9rieure de 4,3 milliards de dollars \u00e0 ce qu\u2019il avait estim\u00e9 dans la pr\u00e9vision de r\u00e9f\u00e9rence du co\u00fbt des mesures propos\u00e9es pendant la campagne \u00e9lectorale de 2025, qui ne tenait pas compte de l\u2019impact des droits de douane ni des mesures de repr\u00e9sailles.\n\nLe rapport entre la dette et le PIB devrait diminuer \u00e0 41,5 % en 2024-2025, apr\u00e8s avoir atteint 42,1 % en 2023-2024.\n\nLe gouvernement a \u00e9galement \u00e9tabli une nouvelle cible pour le budget de fonctionnement et s\u2019est engag\u00e9 \u00e0 \u00e9quilibrer ce \u00ab budget \u00bb d\u2019ici 2028-2029. Le DPB souligne toutefois que le manque de clart\u00e9 quant \u00e0 la d\u00e9finition des d\u00e9penses de \u00ab fonctionnement \u00bb et des d\u00e9penses d\u2019\u00ab investissement \u00bb rend difficile l\u2019\u00e9valuation de la conformit\u00e9 des politiques budg\u00e9taires actuelles avec cet objectif.\n\n\u00ab Sans une d\u00e9finition claire de ce que constitue une d\u00e9pense de fonctionnement, il est impossible de d\u00e9terminer si le gouvernement est en voie d\u2019atteindre sa nouvelle cible budg\u00e9taire \u00bb, a ajout\u00e9 M. Giroux.","release_date":"2025-06-19T09:00:00-04:00","is_published":"2025-06-19T08:57:10-04:00","appears_on_feed":false,"internal_id":"COM-2526-080","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/blog\/news-releases--communiques-de-presse\/canadian-economy-to-stall-in-the-second-quarter-due-to-tariffs-says-pbo-leconomie-canadienne-devrait-stagner-au-deuxieme-trimestre-en-raison-des-droits-de-douane-selon-le-dpb"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/blog\/news-releases--communiques-de-presse\/canadian-economy-to-stall-in-the-second-quarter-due-to-tariffs-says-pbo-leconomie-canadienne-devrait-stagner-au-deuxieme-trimestre-en-raison-des-droits-de-douane-selon-le-dpb"}}}},{"type":"Publication","date":"2025-06-18T13:00:00.000000Z","payload":{"id":"LEG-2526-002-S","is_published":"2025-06-18T12:57:06.000000Z","release_date":"2025-06-18T13:00:00.000000Z","last_revised_date":null,"title_en":"Reducing the lowest federal personal income tax rate to 14 per 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Act respecting certain affordability measures for Canadians and another measure","title_fr":"Loi concernant certaines mesures d\u0027abordabilit\u00e9 pour les Canadiens et une autre mesure","bill_num":"C-4","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/bills--projets-de-loi\/45-1\/C-4","legisinfo":"https:\/\/www.parl.ca\/legisinfo\/en\/bill\/45-1\/c-4"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/bills--projets-de-loi\/45-1\/C-4","legisinfo":"https:\/\/www.parl.ca\/LegisInfo\/fr\/projet-de-loi\/45-1\/c-4"}},"pivot":{"publication_id":855,"bill_id":648}}],"hubs":[],"labels":[],"bibtex":{"en":"@techreport{PBO-LEG2526002S,\n author={Busby, Carleigh},\n title={Reducing the lowest federal personal income tax rate to 14 per cent},\n institution={The Office of the Parliamentary Budget Officer},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-LEG2526002S,\n author={Busby, Carleigh},\n title={R\\\u0027{e}duire \\`{a} 14 % le taux le plus bas de l\u2019imp\\^{o}t f\\\u0027{e}d\\\u0027{e}ral sur le revenu des particuliers},\n institution={Bureau du directeur parlementaire du budget},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}"}}},{"type":"Blog","date":"2025-06-16T15:00:00.000000Z","payload":{"id":"BLOG-2526-003","is_published":"2025-06-16T14:57:11.000000Z","release_date":"2025-06-16T15:00:00.000000Z","last_revised_date":null,"title_en":"Supplementary Estimates (A) and Defence Spending","title_fr":"Le Budget suppl\u00e9mentaire des d\u00e9penses (A) et les d\u00e9penses en mati\u00e8re de 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additional analysis provides details on Supplementary Estimates (A) and how sought authorities relate to the National Defence portfolio.","abstract_fr":"La pr\u00e9sente analyse compl\u00e9mentaire fournit des d\u00e9tails sur le Budget suppl\u00e9mentaire des d\u00e9penses (A) et sur la mani\u00e8re dont les autorisations demand\u00e9es rel\u00e8vent du portefeuille de la D\u00e9fense nationale.","hubs":[]}},{"type":"NewsRelease","date":"2025-06-11T13:00:00.000000Z","payload":{"id":78,"created_at":"2025-06-10T09:09:36-04:00","updated_at":"2025-06-11T08:57:09-04:00","slug":"new-gst-rebate-for-first-time-home-buyers-will-cost-19-billion-says-pbo-le-nouveau-remboursement-de-la-tps-pour-les-acheteurs-dune-premiere-habitation-coutera-19-milliard-de-dollars-selon-le-dpb","title_en":"New GST Rebate for First-Time Home Buyers will cost $1.9 billion, says PBO","title_fr":"Le nouveau remboursement de la TPS pour les acheteurs d\u2019une premi\u00e8re habitation co\u00fbtera 1,9 milliard de dollars, selon le DPB","body_en":"The Parliamentary Budget Officer (PBO) estimates that the recently announced GST Rebate for First-Time Home buyers will cost $1.9 billion over six years, starting in 2025.\n\nBill C-4 proposes to introduce a new GST rebate for first-time home buyers. The Bill would grant a rebate of 100% of the GST on new homes valued up to $1 million, and a partial rebate on new homes value up to $1.5 million.\n\n\u201cOur estimates show that the new GST rebate for first-time home buyers will cost $1.9 billion over six years,\u201d said Yves Giroux, PBO. \u201cOver that period, we estimate that first-time homebuyers will receive subsidies averaging $27,000.\u201d\n\nThe report outlines the model underlying the PBO\u2019s analysis, which was also used to calculate the related Election Proposal Cost estimates.","body_fr":"Le directeur parlementaire du budget (DPB) estime que le remboursement de TPS pour les acheteurs d\u2019une premi\u00e8re habitation qui a \u00e9t\u00e9 annonc\u00e9 derni\u00e8rement co\u00fbtera 1,9 milliard sur six ans \u00e0 compter de 2025.\n\nLe projet de loi C-4 propose d\u2019instaurer un nouveau remboursement de la TPS pour les acheteurs d\u2019une premi\u00e8re habitation. Ce projet de loi accorderait un remboursement \u00e9quivalant \u00e0 la totalit\u00e9 de la TPS pay\u00e9e sur les habitations neuves dont la valeur ne d\u00e9passe pas 1,5 million de dollars.\n\n\u00ab Nos estimations montrent que le nouveau remboursement de la TPS pour les acheteurs d\u2019une premi\u00e8re habitation co\u00fbtera 1,9 milliard de dollars sur six ans, a d\u00e9clar\u00e9 le directeur parlementaire du budget, Yves Giroux. Sur cette p\u00e9riode, nous estimons que les acheteurs d\u2019une premi\u00e8re maison recevront une subvention avoisinant 27 000 $ en moyenne. \u00bb\n\nLe rapport d\u00e9crit le mod\u00e8le utilis\u00e9 par le directeur parlementaire du budget pour son analyse, mod\u00e8le qui a aussi servi \u00e0 calculer les estimations des co\u00fbts des promesses \u00e9lectorales.","release_date":"2025-06-11T09:00:00-04:00","is_published":"2025-06-11T08:57:09-04:00","appears_on_feed":false,"internal_id":"COM-2526-078","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/blog\/news-releases--communiques-de-presse\/new-gst-rebate-for-first-time-home-buyers-will-cost-19-billion-says-pbo-le-nouveau-remboursement-de-la-tps-pour-les-acheteurs-dune-premiere-habitation-coutera-19-milliard-de-dollars-selon-le-dpb"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/blog\/news-releases--communiques-de-presse\/new-gst-rebate-for-first-time-home-buyers-will-cost-19-billion-says-pbo-le-nouveau-remboursement-de-la-tps-pour-les-acheteurs-dune-premiere-habitation-coutera-19-milliard-de-dollars-selon-le-dpb"}}}},{"type":"Publication","date":"2025-06-05T13:00:00.000000Z","payload":{"id":"LEG-2526-001-S","is_published":"2025-06-05T12:57:06.000000Z","release_date":"2025-06-05T13:00:00.000000Z","last_revised_date":null,"title_en":"Canada Disability Benefit","title_fr":"Prestation canadienne pour les personnes handicap\u00e9es","internal_id":"LEG-2526-001-S","metadata":{"abstract_en":"The Canada Disability Benefit (CDB) will provide monthly payments of up to $200 (indexed to inflation) to individuals with disabilities aged between 18 and 64. The amount will vary based on the income and marital status of the recipients and their spouses, if applicable. Eligibility for the benefit begins in June 2025, with payments starting in July 2025.\n\nThe PBO estimates that this measure will cost $6.5 billion from 2025-26 to 2029-30.","abstract_fr":"La Prestation canadienne pour les personnes handicap\u00e9es (PCPH) pr\u00e9voit le versement d\u2019un paiement mensuel d\u2019au plus 200 $ (index\u00e9 \u00e0 l\u2019inflation) aux personnes en situation de handicap \u00e2g\u00e9es de 18 \u00e0 64 ans. Le montant variera en fonction du revenu et de la situation matrimoniale des b\u00e9n\u00e9ficiaires et de leur conjoint, le cas \u00e9ch\u00e9ant. 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r\\\u0027{e}gions \\\u0027{e}loign\\\u0027{e}es},\n institution={Bureau du directeur parlementaire du budget},\n year=2025,\n \n address = \u0022Ottawa, ON\u0022\n}"}}},{"type":"Publication","date":"2025-01-21T14:00:00.000000Z","payload":{"id":"LEG-2425-017-S","is_published":"2025-01-21T13:57:05.000000Z","release_date":"2025-01-21T14:00:00.000000Z","last_revised_date":null,"title_en":"Removing the Goods and Services Tax (GST) from funeral-related expenses","title_fr":"Exon\u00e9rer les produits et services fun\u00e9raires de la taxe sur les produits et services (TPS)","internal_id":"LEG-2425-017-S","metadata":{"abstract_en":"This costing estimates the revenue that would be foregone if the Goods and Services Tax (GST) were removed from funeral-related expenses, regardless of whether the tax was charged as part of Harmonized Sales Tax (HST) or separately. 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