A former parliamentary budget officer says it is “just wrong” to suggest that the federal finances are unsustainable and is publicly disagreeing with the current fiscal watchdog.
Kevin Page — who was Canada’s first parliamentary budget officer (PBO) starting in 2008 — told CBC’s Power & Politics that he disagrees with the language of the current PBO, Jason Jacques.
“I think the language from the current parliamentary budget officer, Mr. Jason Jacques, is just wrong and he should walk that back, quite frankly,” Page told host David Cochrane.
“I think it’s definitely inflamed certain passions around Canada’s fiscal situation that I think are not consistent with the numbers.”
Jacques — who was appointed interim PBO last month — recently described the state of Canada’s finances as “stupefying,” “shocking” and “unsustainable.”
“I think everybody should be concerned,” Jacques told MPs on the government operations and estimates committee last week.
“We’re hoping, and certainly expecting, the government as part of budget 2025 to clearly indicate what the government plans to do to address … this problem.”
Page, who now heads the Institute of Fiscal Studies and Democracy at the University of Ottawa, said the language Jacques used isn’t typical for someone in a non-partisan position.
“You wouldn’t see a governor of the Bank of Canada or the auditor general use that kind of language,” Page said.
He said he expects to see less of that kind of language from Jacques going forward.
The PBO is a non-partisan officer of Parliament, providing independent economic and financial analysis to the Senate and the House of Commons.
“I think they recognize it’s a mistake,” Page said. “I think they have to walk it back.”
CBC News reached out to the PBO for comment.
The most recent report from the PBO — which gives a baseline heading into the Nov. 4 budget — projects the federal government will post an annual deficit of $68.5 billion this year, up from $51.7 billion last year.
Prime Minister Mark Carney has said the deficit will be bigger than the last, citing the effect of U.S. tariffs and additional spending announced by his government.
Page didn’t disagree with the recent PBO report, but he argued Canada is fiscally “in a pretty good place” relative to other G7 countries.
“It’s not shocking to see a deficit go up because the economy is slowing and we have NATO commitments. To me, it’s sustainable,” Page said.
