Budget principal des dépenses
{"id":"RP-2627-004-S","is_published":"2026-05-07T12:57:10.000000Z","release_date":"2026-05-07T13:00:00.000000Z","last_revised_date":null,"title_en":"The Government\u2019s Expenditure Plan and the Main Estimates for 2026-27","title_fr":"Le Plan de d\u00e9penses du gouvernement et le Budget principal des d\u00e9penses de 2026-2027","internal_id":"RP-2627-004-S","metadata":{"abstract_en":"This report examines the federal government\u2019s Expenditure Plan and Main Estimates for 2026-27, which supports the appropriation bill that seeks Parliament\u2019s approval of $230.4 billion in budgetary authorities.","abstract_fr":"Le pr\u00e9sent rapport porte sur le Plan de d\u00e9penses et le Budget principal des d\u00e9penses pour 2026-2027 du gouvernement f\u00e9d\u00e9ral, qui appuient le projet de loi de cr\u00e9dits pour lequel le gouvernement demande au Parlement d\u2019approuver des autorisations budg\u00e9taires de 230,4 milliards de dollars.","highlights":[{"content":{"en":"The Main Estimates are enacted through an appropriation bill for the 2026-27 fiscal year, which require Parliament\u2019s approval for $230.4 billion. Parliament has already provided legislative authority for most of the planned spending ($272.4 billion) for the 2026-27 fiscal year through other pieces of legislation.","fr":"Le Budget principal des d\u00e9penses est mis en \u0153uvre par l\u2019adoption d\u2019un projet de loi de cr\u00e9dits pour l\u2019exercice 2026-2027, \u00e0 l\u2019\u00e9gard duquel le Parlement doit approuver des fonds de 230,4 milliards de dollars. Le Parlement a d\u00e9j\u00e0 accord\u00e9 son autorisation pour la plupart des d\u00e9penses pr\u00e9vues (272,4 milliards de dollars) pour l\u2019exercice 2026-2027 par le biais d\u2019autres textes l\u00e9gislatifs."}},{"content":{"en":"The Canada Health Transfer is set to increase by $2.7 billion (5 per cent) to $57.4 billion in 2026-27.","fr":"Le Transfert canadien en mati\u00e8re de sant\u00e9 augmentera de 2,7 milliards de dollars (5 %) pour atteindre 57,4 milliards de dollars en 2026-2027."}},{"content":{"en":"Federal spending on Elderly Benefits is set to increase by $5.7 billion (6.9 per cent) to a total of $88.8 billion in 2026-27. However, after the tabling of the Main Estimates, the government released its Spring Economic Update 2026, which now forecasts Elderly Benefits to cost 89.3 billion for 2026-27 (an increase of $6.2 billion or 7.5 per cent).","fr":"Les d\u00e9penses f\u00e9d\u00e9rales en prestations aux a\u00een\u00e9s devraient augmenter de 5,7 milliards de dollars (6,9 %) pour atteindre un total de 88,8 milliards de dollars en 2026-2027. Toutefois, apr\u00e8s le d\u00e9p\u00f4t du budget principal des d\u00e9penses, le gouvernement a publi\u00e9 sa Mise \u00e0 jour \u00e9conomique du printemps de 2026, qui pr\u00e9voit d\u00e9sormais que les prestations aux a\u00een\u00e9s co\u00fbteront 89,3 milliards de dollars pour 2026-2027 (soit une augmentation de 6,2 milliards de dollars, ou 7,5 %)."}},{"content":{"en":"The 2026-27 Main Estimates outline $53.7 billion in forecasted statutory authorities related to servicing public debt, which represents a $4.7 billion increase (9.5 per cent) from the 2025-26 Estimates to date for the preceding year.","fr":"Le Budget principal des d\u00e9penses 2026-2027 pr\u00e9sente des autorisations l\u00e9gislatives pr\u00e9vues de 53,7 milliards de dollars pour le service de la dette publique. Cela repr\u00e9sente une augmentation de 4,7 milliards de dollars (9,5 %) par rapport au budget des d\u00e9penses \u00e0 ce jour de 2025-2026 pour l\u2019ann\u00e9e pr\u00e9c\u00e9dente."}},{"content":{"en":"These Main Estimates include $14.7 billion in funding for Budget 2025 measures.","fr":"Ce budget principal des d\u00e9penses comprend une somme de 14,7 milliards de dollars pour le financement de mesures du Budget 2025."}},{"content":{"en":"Initiatives related to Rebuilding, Rearming, and Reinvesting in the Canadian Armed Forces represent 71.1 per cent of Budget 2025 proposed spending in these Estimates, including $9 billion to the Department of National Defence (DND) and $675.3 million to the Communications Security Establishment Canada (CES).","fr":"Les initiatives li\u00e9es \u00e0 R\u00e9investir pour reb\u00e2tir et r\u00e9armer les Forces arm\u00e9es canadiennes repr\u00e9sentent 71,1 % des d\u00e9penses du Budget 2025 comprises dans le pr\u00e9sent Budget des d\u00e9penses, dont 9 milliards de dollars pour le minist\u00e8re de la D\u00e9fense nationale (MDN) et 675,3 millions de dollars pour le Centre de la s\u00e9curit\u00e9 des t\u00e9l\u00e9communications Canada (CST)."}}]},"updated_at":"2026-05-07T15:19:11.000000Z","type":"RP","slug":"RP-2627-004-S--government-expenditure-plan-main-estimates-2026-27--plan-depenses-gouvernement-budget-principal-depenses-2026-2027","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2627-004-S--government-expenditure-plan-main-estimates-2026-27--plan-depenses-gouvernement-budget-principal-depenses-2026-2027","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2627-004-S--government-expenditure-plan-main-estimates-2026-27--plan-depenses-gouvernement-budget-principal-depenses-2026-2027"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2627-004-S--government-expenditure-plan-main-estimates-2026-27--plan-depenses-gouvernement-budget-principal-depenses-2026-2027","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2627-004-S--government-expenditure-plan-main-estimates-2026-27--plan-depenses-gouvernement-budget-principal-depenses-2026-2027"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/606eab55238ddc4b7bcbae8c9b98d276713c294a17b5f516d8548f9fc0bba145"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/a4332e7c9ecec9b150f49e42562254c75c2068ad70b2fa580e2c0e977eeacd2d"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/8d9eebda8d8ed378f5f04b48f0a014ce68795464b1f989e52a4f426d37931df5","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b819d3f1a3b2ac90a09713e76aa815c782f31fb3b37c3c100b66f9c794244b16","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5fabb906119ab905f1866f4bb23781918dd71d4d85d2d80954dcac4ae76dc5d2","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d91bae21edd726e67fe4bad6db2301a9bac5d182c6e85633603bceffb13e13a8","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/1ebff4698219211744b183c413404793338e081c7e99e450deabd4e53638095a","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/fe302a1c73bd412638eadcce95a8c0df0625fa1f8e4564e9042005b640983917","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/bc967798e6470b0c6585ed2bf8189eddd6d1ed6c9fca3a405d006633d3afe100","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/7f062f0049a0a3a6cd51af8349f8bc6c741c5afad63a18c64549db972315d75a"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/004de155c724154e8614efcc339c236fbbc3aa9975e1fb9402588d21af93d71b","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/ef191b08baa013c2e22a844028c96d5c19cee6958f182e27f421bbc09c8d6f00","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/77b5241a3c8bfb4393da507d7992f036b65a4aa309068e2018f60e4b80d1a56d","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/05d19bc2583540717cba0b1aa072f30a9ef1ba74f7229555014e27fa5c8263de","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a8a08c2cdabcdccf31dee4c2b302ff3360a815686b704482b13166903255c702","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3412ec38bbaad90dbeb80349a4b1651bf18d391cb65ab4a256a80dd1ae19c575","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a50ebb3fcca96af90387a1e4455e0ce47e0c2602d93cf803496f41bfdcf35ba1","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d9a317de578bc8f408ad5950be35fd66ec9de90f665d10b47f8894a0e96d97c7"}}},"bills":[{"id":760,"created_at":"2026-03-25T06:00:05-04:00","updated_at":"2026-05-07T11:19:18-04:00","legisid":"45_1_C-24","parliament":45,"session":1,"prefix":"C","number":24,"title_en":"An Act for granting to His Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2027","title_fr":"Loi portant octroi \u00e0 Sa Majest\u00e9 de cr\u00e9dits pour l\u0027administration publique f\u00e9d\u00e9rale pendant l\u0027exercice se terminant le 31 mars 2027","bill_num":"C-24","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/bills--projets-de-loi\/45-1\/C-24","legisinfo":"https:\/\/www.parl.ca\/legisinfo\/en\/bill\/45-1\/c-24"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/bills--projets-de-loi\/45-1\/C-24","legisinfo":"https:\/\/www.parl.ca\/LegisInfo\/fr\/projet-de-loi\/45-1\/c-24"}},"pivot":{"publication_id":900,"bill_id":760}}],"labels":[],"bibtex":{"en":"@techreport{PBO-RP2627004S,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark},\n title={The Government\u2019s Expenditure Plan and the Main Estimates for 2026-27},\n institution={The Office of the Parliamentary Budget Officer},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2627004S,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark},\n title={Le Plan de d\\\u0027{e}penses du gouvernement et le Budget principal des d\\\u0027{e}penses de 2026-2027},\n institution={Bureau de la directrice parlementaire du budget},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}"}}
Autres publications
{"id":"NT-2627-005-S","is_published":"2026-05-04T12:55:04.000000Z","release_date":"2026-05-04T12:58:00.000000Z","last_revised_date":null,"title_en":"PBO Assessment of Spring Economic Update: Temporarily suspending the federal fuel excise tax","title_fr":"\u00c9valuation par la DPB de la Mise \u00e0 jour \u00e9conomique du printemps : suspendre temporairement la taxe d\u2019accise f\u00e9d\u00e9rale sur le carburant","internal_id":"NT-2627-005-S","metadata":{"abstract_en":null,"abstract_fr":null,"highlights":[]},"updated_at":"2026-05-04T12:55:04.000000Z","type":"NT","slug":"NT-2627-005-S--pbo-assessment-spring-economic-update-temporarily-suspending-federal-fuel-excise-tax--evaluation-dpb-mise-jour-economique-printemps-suspendre-temporairement-taxe-accise-federale-carburan","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/NT-2627-005-S--pbo-assessment-spring-economic-update-temporarily-suspending-federal-fuel-excise-tax--evaluation-dpb-mise-jour-economique-printemps-suspendre-temporairement-taxe-accise-federale-carburan","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/NT-2627-005-S--pbo-assessment-spring-economic-update-temporarily-suspending-federal-fuel-excise-tax--evaluation-dpb-mise-jour-economique-printemps-suspendre-temporairement-taxe-accise-federale-carburan"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/NT-2627-005-S--pbo-assessment-spring-economic-update-temporarily-suspending-federal-fuel-excise-tax--evaluation-dpb-mise-jour-economique-printemps-suspendre-temporairement-taxe-accise-federale-carburan","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/NT-2627-005-S--pbo-assessment-spring-economic-update-temporarily-suspending-federal-fuel-excise-tax--evaluation-dpb-mise-jour-economique-printemps-suspendre-temporairement-taxe-accise-federale-carburan"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/a4051eb5154a466a71ffa0046b761099a16440b5e056b9f5c22758f2dc5f9c37"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/ad672f9440be8652f271e59eb46322f40c272cbfeae99e0639222e803d0f3800"}}},"coverpages":{"distribution":{"fr":{"small":null,"large":null,"h150_png_optimized":null,"h150_webp":null,"h300_png_optimized":null,"h300_webp":null,"h600_png_optimized":null,"h600_webp":null},"en":{"small":null,"large":null,"h150_png_optimized":null,"h150_webp":null,"h300_png_optimized":null,"h300_webp":null,"h600_png_optimized":null,"h600_webp":null}}},"bills":[],"labels":[],"bibtex":{"en":"@techreport{PBO-NT2627005S,\n author={McGoey, Matthew and Vrhovsek, Zachary},\n title={PBO Assessment of Spring Economic Update: Temporarily suspending the federal fuel excise tax},\n institution={The Office of the Parliamentary Budget Officer},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-NT2627005S,\n author={McGoey, Matthew and Vrhovsek, Zachary},\n title={\\\u0027{E}valuation par la DPB de la Mise \\`{a} jour \\\u0027{e}conomique du printemps : suspendre temporairement la taxe d\u2019accise f\\\u0027{e}d\\\u0027{e}rale sur le carburant},\n institution={Bureau de la directrice parlementaire du budget},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}"}}
{"id":"NT-2627-003-S","is_published":"2026-05-04T13:01:36.000000Z","release_date":"2026-05-04T13:00:00.000000Z","last_revised_date":null,"title_en":"PBO Assessment of Spring Economic Update: Government\u2019s Major Capital Priorities","title_fr":"\u00c9valuation par la DPB de la Mise \u00e0 jour \u00e9conomique du printemps : principales priorit\u00e9s d\u2019investissement du gouvernement dans les immobilisations","internal_id":"NT-2627-003-S","metadata":{"abstract_en":"PBO has prepared a series of notes assessing the Spring Economic Update 2026, tabled on April 28, 2026, in respect of Budget 2025 tabled on November 4, 2025. The objective of these notes is to support Parliamentary scrutiny of public finances. The notes review key elements of the budget cycle through time, notably the economic and fiscal track, fiscal anchors and fiscal sustainability, major government priorities guiding the capital investment strategy, and new spending measures announced since Budget 2025.","abstract_fr":"La DPB a pr\u00e9par\u00e9 une s\u00e9rie de notes \u00e9valuant la Mise \u00e0 jour \u00e9conomique du printemps de 2026, d\u00e9pos\u00e9e le 28 avril 2026, compte tenu du budget de 2025 d\u00e9pos\u00e9 le 4 novembre 2025. L\u2019objectif de ces notes est de soutenir l\u2019examen parlementaire des finances publiques. Les notes passent en revue les \u00e9l\u00e9ments cl\u00e9s du cycle budg\u00e9taire au fil du temps, notamment le profil d\u2019\u00e9volution \u00e9conomique et financi\u00e8re, les cibles budg\u00e9taires et la viabilit\u00e9 financi\u00e8re, les grandes priorit\u00e9s gouvernementales qui orientent la strat\u00e9gie d\u2019investissement en capital, ainsi que les nouvelles mesures de d\u00e9penses annonc\u00e9es depuis le budget de 2025.","highlights":[{"content":{"en":"The Spring Economic Update (SEU) provided directional, rather than detailed, updates on key strategic capital priorities introduced in Budget 2025 - namely infrastructure and major projects; productivity and competitiveness; housing; and defence and security.","fr":"La Mise \u00e0 jour \u00e9conomique du printemps (MEP) fait des mises \u00e0 jour d\u2019orientation, plut\u00f4t que d\u00e9taill\u00e9es, sur les principales priorit\u00e9s strat\u00e9giques relatives aux immobilisations pr\u00e9sent\u00e9es dans le budget de 2025, \u00e0 savoir en ce qui concerne les projets d\u2019infrastructure et les grands projets, la productivit\u00e9 et la comp\u00e9titivit\u00e9, le logement, ainsi que la d\u00e9fense et la s\u00e9curit\u00e9."}},{"content":{"en":"The SEU introduced new strategic priorities to advance capital formation goals identified in Budget 2025 \u2014 including the Canada Strong Fund of $25 billion and Team Canada Strong, positioned to mitigate labour supply constraints.","fr":"On y pr\u00e9sente de nouvelles priorit\u00e9s strat\u00e9giques visant \u00e0 r\u00e9aliser les objectifs de la formation de capitaux \u00e9nonc\u00e9s dans le budget de 2025, ce qui comprend le Fonds pour un Canada fort, de 25 milliards de dollars, et l\u2019initiative Une \u00c9quipe Canada forte, qui sont destin\u00e9s \u00e0 att\u00e9nuer les contraintes de l\u2019offre du march\u00e9 du travail."}},{"content":{"en":"Regarding housing, affordability and support for the housing supply remain central in the 2026 SEU, but no specific targets for the pace of homebuilding are provided. This is notable in the context of housing starts and population growth losing momentum since Budget 2025.","fr":"En ce qui concerne le logement, l\u2019accessibilit\u00e9 financi\u00e8re et le soutien \u00e0 l\u2019offre de logements demeurent au c\u0153ur de la MEP 2026, mais on n\u2019y propose pas de cibles pr\u00e9cises concernant le rythme de construction de logements. Cela est important \u00e0 souligner, d\u2019autant plus que les mises en chantier et la croissance d\u00e9mographique perdent de la vitesse depuis le budget de 2025."}},{"content":{"en":"The longer-term defence spending path to 5% of GDP by 2035 remains unspecified following the SEU; the PBO estimates meeting this commitment would require core defence cash spending to reach $159 billion in 2035\u201336 alone, adding $63 billion to the federal deficit in that year, which would increase the debt\u2011to\u2011GDP ratio by 6.3 percentage points.","fr":"Dans la Mise \u00e0 jour \u00e9conomique du printemps, la trajectoire \u00e0 long terme des d\u00e9penses de d\u00e9fense, qui doivent atteindre 5 % du PIB d\u2019ici 2035, reste impr\u00e9cise; selon les estimations du DPB, pour qu\u2019un tel engagement puisse \u00eatre respect\u00e9, les d\u00e9penses de d\u00e9fense de base en esp\u00e8ces devraient atteindre 159 milliards de dollars au cours de la seule ann\u00e9e 2035-2036, ce qui ajouterait 63 milliards de dollars au d\u00e9ficit f\u00e9d\u00e9ral cette ann\u00e9e-l\u00e0, et entra\u00eenerait l\u2019accroissement du ratio de la dette au PIB de 6,3 points de pourcentage."}}]},"updated_at":"2026-05-04T14:46:15.000000Z","type":"NT","slug":"NT-2627-003-S--pbo-assessment-spring-economic-update-government-major-capital-priorities--evaluation-dpb-mise-jour-economique-printemps-principales-priorites-investissement-gouvernement-dans","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/NT-2627-003-S--pbo-assessment-spring-economic-update-government-major-capital-priorities--evaluation-dpb-mise-jour-economique-printemps-principales-priorites-investissement-gouvernement-dans","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/NT-2627-003-S--pbo-assessment-spring-economic-update-government-major-capital-priorities--evaluation-dpb-mise-jour-economique-printemps-principales-priorites-investissement-gouvernement-dans"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/NT-2627-003-S--pbo-assessment-spring-economic-update-government-major-capital-priorities--evaluation-dpb-mise-jour-economique-printemps-principales-priorites-investissement-gouvernement-dans","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/NT-2627-003-S--pbo-assessment-spring-economic-update-government-major-capital-priorities--evaluation-dpb-mise-jour-economique-printemps-principales-priorites-investissement-gouvernement-dans"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/4b6af4aeeb785fe906480c6ac6203c6fcaa4e2512b8756f0e7c2ffb06c18c1a8"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/20b51180e23d57b36b975c95e6b798813a6d3434961a46d08ff5fa107d10ce58"}}},"coverpages":{"distribution":{"fr":{"small":null,"large":null,"h150_png_optimized":null,"h150_webp":null,"h300_png_optimized":null,"h300_webp":null,"h600_png_optimized":null,"h600_webp":null},"en":{"small":null,"large":null,"h150_png_optimized":null,"h150_webp":null,"h300_png_optimized":null,"h300_webp":null,"h600_png_optimized":null,"h600_webp":null}}},"bills":[],"labels":[],"bibtex":{"en":"@techreport{PBO-NT2627003S,\n author={},\n title={PBO Assessment of Spring Economic Update: Government\u2019s Major Capital Priorities},\n institution={The Office of the Parliamentary Budget Officer},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-NT2627003S,\n author={},\n title={\\\u0027{E}valuation par la DPB de la Mise \\`{a} jour \\\u0027{e}conomique du printemps : principales priorit\\\u0027{e}s d\u2019investissement du gouvernement dans les immobilisations},\n institution={Bureau de la directrice parlementaire du budget},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}"}}
{"id":"NT-2627-002-S","is_published":"2026-05-04T13:01:33.000000Z","release_date":"2026-05-04T13:01:00.000000Z","last_revised_date":null,"title_en":"PBO Assessment of Spring Economic Update: Fiscal Anchors and Fiscal Sustainability","title_fr":"\u00c9valuation par la DPB de la Mise \u00e0 jour \u00e9conomique du printemps : cibles budg\u00e9taires et viabilit\u00e9 financi\u00e8re (r\u00e9vis\u00e9)","internal_id":"NT-2627-002-S","metadata":{"abstract_en":"PBO has prepared a series of notes assessing the Spring Economic Update 2026, tabled on April 28, 2026, in respect of Budget 2025 tabled on November 4, 2025. The objective of these notes is to support Parliamentary scrutiny of public finances. The notes review key elements of the budget cycle through time, notably the economic and fiscal track, fiscal anchors and fiscal sustainability, major government priorities guiding the capital investment strategy, and new spending measures announced since Budget 2025.","abstract_fr":"La DPB a pr\u00e9par\u00e9 une s\u00e9rie de notes \u00e9valuant la Mise \u00e0 jour \u00e9conomique du printemps de 2026, d\u00e9pos\u00e9e le 28 avril 2026, compte tenu du budget de 2025 d\u00e9pos\u00e9 le 4 novembre 2025. L\u2019objectif de ces notes est de soutenir l\u2019examen parlementaire des finances publiques. Les notes passent en revue les \u00e9l\u00e9ments cl\u00e9s du cycle budg\u00e9taire au fil du temps, notamment le profil d\u2019\u00e9volution \u00e9conomique et financi\u00e8re, les cibles budg\u00e9taires et la viabilit\u00e9 financi\u00e8re, les grandes priorit\u00e9s gouvernementales qui orientent la strat\u00e9gie d\u2019investissement en capital, ainsi que les nouvelles mesures de d\u00e9penses annonc\u00e9es depuis le budget de 2025.","highlights":[{"content":{"en":"The Spring Economic Update (SEU) projections indicate that the Government is on track to respect its two fiscal anchors.","fr":"Les projections de la Mise \u00e0 jour \u00e9conomique du printemps (MEP) indiquent que le gouvernement est en voie de respecter ses deux cibles budg\u00e9taires."}},{"content":{"en":"The 2026 SEU preserves the reporting framework around capital budgeting adopted in Budget 2025. No additional precision on the definitions used for classification under the framework were provided.","fr":"La MEP de 2026 conserve le cadre redditionnel adopt\u00e9 dans le budget de 2025 pour la budg\u00e9tisation des investissements en capital. Aucune pr\u00e9cision suppl\u00e9mentaire n\u2019a \u00e9t\u00e9 fournie quant aux d\u00e9finitions utilis\u00e9es pour la classification en vertu du cadre."}},{"content":{"en":"The projected long-term debt path in the 2026 SEU presents a steeper decline in the debt to GDP ratio compared to Budget 2025. That is, the current projections suggest greater fiscal room into the medium term.","fr":"La trajectoire projet\u00e9e de la dette \u00e0 long terme dans la MEP de 2026 pr\u00e9sente une baisse plus marqu\u00e9e du ratio de la dette au PIB par rapport au budget de 2025. Autrement dit, les projections actuelles laissent entrevoir une plus grande marge de man\u0153uvre financi\u00e8re \u00e0 moyen terme."}}]},"updated_at":"2026-05-05T16:59:11.000000Z","type":"NT","slug":"NT-2627-002-S--pbo-assessment-spring-economic-update-fiscal-anchors-fiscal-sustainability--evaluation-dpb-mise-jour-economique-printemps-cibles-budgetaires-viabilite-financiere","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/NT-2627-002-S--pbo-assessment-spring-economic-update-fiscal-anchors-fiscal-sustainability--evaluation-dpb-mise-jour-economique-printemps-cibles-budgetaires-viabilite-financiere","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/NT-2627-002-S--pbo-assessment-spring-economic-update-fiscal-anchors-fiscal-sustainability--evaluation-dpb-mise-jour-economique-printemps-cibles-budgetaires-viabilite-financiere"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/NT-2627-002-S--pbo-assessment-spring-economic-update-fiscal-anchors-fiscal-sustainability--evaluation-dpb-mise-jour-economique-printemps-cibles-budgetaires-viabilite-financiere","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/NT-2627-002-S--pbo-assessment-spring-economic-update-fiscal-anchors-fiscal-sustainability--evaluation-dpb-mise-jour-economique-printemps-cibles-budgetaires-viabilite-financiere"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/f5cdb3aeeb8c0517adfdb64dd24fea6e278933c57f2046b07058371b38a987bd"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/2dc3ef04fec15972c57ae5cd52bc6d2378b228e712fc5450630204260409e71c"}}},"coverpages":{"distribution":{"fr":{"small":null,"large":null,"h150_png_optimized":null,"h150_webp":null,"h300_png_optimized":null,"h300_webp":null,"h600_png_optimized":null,"h600_webp":null},"en":{"small":null,"large":null,"h150_png_optimized":null,"h150_webp":null,"h300_png_optimized":null,"h300_webp":null,"h600_png_optimized":null,"h600_webp":null}}},"bills":[],"labels":[],"bibtex":{"en":"@techreport{PBO-NT2627002S,\n author={},\n title={PBO Assessment of Spring Economic Update: Fiscal Anchors and Fiscal Sustainability},\n institution={The Office of the Parliamentary Budget Officer},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-NT2627002S,\n author={},\n title={\\\u0027{E}valuation par la DPB de la Mise \\`{a} jour \\\u0027{e}conomique du printemps : cibles budg\\\u0027{e}taires et viabilit\\\u0027{e} financi\\`{e}re (r\\\u0027{e}vis\\\u0027{e})},\n institution={Bureau de la directrice parlementaire du budget},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}"}}
{"id":"NT-2627-001-S","is_published":"2026-05-04T13:01:27.000000Z","release_date":"2026-05-04T13:02:00.000000Z","last_revised_date":null,"title_en":"PBO Assessment of Spring Economic Update: Economic and Fiscal Track","title_fr":"\u00c9valuation par la DPB de la Mise \u00e0 jour \u00e9conomique du printemps : profil d\u2019\u00e9volution \u00e9conomique et financi\u00e8re","internal_id":"NT-2627-001-S","metadata":{"abstract_en":"PBO has prepared a series of notes assessing the Spring Economic Update 2026, tabled on April 28, 2026, in respect of Budget 2025 tabled on November 4, 2025. The objective of these notes is to support Parliamentary scrutiny of public finances. The notes review key elements of the budget cycle through time, notably the economic and fiscal track, fiscal anchors and fiscal sustainability, major government priorities guiding the capital investment strategy, and new spending measures announced since Budget 2025.","abstract_fr":"La DPB a pr\u00e9par\u00e9 une s\u00e9rie de notes \u00e9valuant la Mise \u00e0 jour \u00e9conomique du printemps de 2026, d\u00e9pos\u00e9e le 28 avril 2026, compte tenu du budget de 2025 d\u00e9pos\u00e9 le 4 novembre 2025. L\u2019objectif de ces notes est de soutenir l\u2019examen parlementaire des finances publiques. Les notes passent en revue les \u00e9l\u00e9ments cl\u00e9s du cycle budg\u00e9taire au fil du temps, notamment le profil d\u2019\u00e9volution \u00e9conomique et financi\u00e8re, les cibles budg\u00e9taires et la viabilit\u00e9 financi\u00e8re, les grandes priorit\u00e9s gouvernementales qui orientent la strat\u00e9gie d\u2019investissement en capital, ainsi que les nouvelles mesures de d\u00e9penses annonc\u00e9es depuis le budget de 2025.","highlights":[{"content":{"en":"The Canadian economy continues to demonstrate resilience, with most indicators better than anticipated in Budget 2025. Notably, unemployment was improved from Budget 2025, despite continuing trade friction and recent oil price shocks.","fr":"L\u2019\u00e9conomie canadienne continue de faire preuve de r\u00e9silience, la plupart des indicateurs s\u2019av\u00e9rant meilleurs que pr\u00e9vu dans le budget 2025. Il convient de noter que la situation de l\u2019emploi s\u2019est am\u00e9lior\u00e9e par rapport au budget 2025, malgr\u00e9 la persistance des tensions commerciales et les r\u00e9centes fluctuations des cours du p\u00e9trole."}},{"content":{"en":"Consistent with stronger economic fundamentals, the Government\u2019s fiscal space has also improved, due mostly to higher revenues and lower spending.","fr":"Dans le sillage du renforcement des fondements \u00e9conomiques, la marge de man\u0153uvre budg\u00e9taire du gouvernement s\u2019est \u00e9galement am\u00e9lior\u00e9e, principalement gr\u00e2ce \u00e0 une hausse des recettes et \u00e0 une baisse des d\u00e9penses."}},{"content":{"en":"The additional fiscal space is mostly used for new policy priorities, resulting in a substantially unchanged deficit track.","fr":"Cette marge de man\u0153uvre budg\u00e9taire suppl\u00e9mentaire est principalement consacr\u00e9e aux nouvelles priorit\u00e9s politiques, ce qui se traduit par une trajectoire du d\u00e9ficit pratiquement inchang\u00e9e."}}]},"updated_at":"2026-05-04T13:01:27.000000Z","type":"NT","slug":"NT-2627-001-S--pbo-assessment-spring-economic-update-economic-fiscal-track--evaluation-dpb-mise-jour-economique-printemps-profil-evolution-economique-financiere","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/NT-2627-001-S--pbo-assessment-spring-economic-update-economic-fiscal-track--evaluation-dpb-mise-jour-economique-printemps-profil-evolution-economique-financiere","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/NT-2627-001-S--pbo-assessment-spring-economic-update-economic-fiscal-track--evaluation-dpb-mise-jour-economique-printemps-profil-evolution-economique-financiere"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/NT-2627-001-S--pbo-assessment-spring-economic-update-economic-fiscal-track--evaluation-dpb-mise-jour-economique-printemps-profil-evolution-economique-financiere","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/NT-2627-001-S--pbo-assessment-spring-economic-update-economic-fiscal-track--evaluation-dpb-mise-jour-economique-printemps-profil-evolution-economique-financiere"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/601dabe90e6393d1998cc14467d8cb1eeabcb1aaa19bb3e77994a8dd35457a82"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/9945fc2af0af4c51d517c4dfb59fb8ded003d947abd5316440af62bc2ab6e0b2"}}},"coverpages":{"distribution":{"fr":{"small":null,"large":null,"h150_png_optimized":null,"h150_webp":null,"h300_png_optimized":null,"h300_webp":null,"h600_png_optimized":null,"h600_webp":null},"en":{"small":null,"large":null,"h150_png_optimized":null,"h150_webp":null,"h300_png_optimized":null,"h300_webp":null,"h600_png_optimized":null,"h600_webp":null}}},"bills":[],"labels":[],"bibtex":{"en":"@techreport{PBO-NT2627001S,\n author={},\n title={PBO Assessment of Spring Economic Update: Economic and Fiscal Track},\n institution={The Office of the Parliamentary Budget Officer},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-NT2627001S,\n author={},\n title={\\\u0027{E}valuation par la DPB de la Mise \\`{a} jour \\\u0027{e}conomique du printemps : profil d\u2019\\\u0027{e}volution \\\u0027{e}conomique et financi\\`{e}re},\n institution={Bureau de la directrice parlementaire du budget},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}"}}
