Former budget officer Kevin Page rebukes PBO’s ‘unsustainable’ claim
Canada’s first parliamentary budget officer, Kevin Page, has challenged recent remarks from current fiscal watchdog Jason Jacques, who described the country’s finances as “unsustainable.”
Speaking on CBC’s Power & Politics, Page called those comments “just wrong,” arguing they misrepresent Canada’s fiscal reality. He urged Jacques to “walk back” his statements and avoid language that could inflame public concerns about the nation’s economic health.
Jacques — appointed interim PBO last month — had told MPs that Canada’s financial outlook was “stupefying” and “shocking,” warning of a looming crisis without corrective action.
Page said such language is unusual for a non-partisan office. “You wouldn’t see a governor of the Bank of Canada or the auditor general use that kind of tone,” he remarked, adding that the PBO should maintain measured language in its fiscal analysis.
While he did not dispute the latest PBO report — which projects a $68.5-billion deficit for the current fiscal year — Page said Canada remains “in a pretty good place” compared to other G7 economies.
“It’s not shocking to see a deficit rise as the economy slows and defence commitments grow. To me, it’s sustainable,” Page said.
Prime Minister Mark Carney has previously acknowledged a larger deficit this year, blaming U.S. tariffs and new spending plans, but maintains that Canada’s finances remain resilient.
