Canada Could Balance Budget in 2 Years With ‘Modest’ Spending Cuts: Report

Published on February 15, 2024

Ottawa could balance its budget in as little as two years with “only modest spending restraint,” a new study has found. Limiting growth in annual program spending to 0.3 percent would result in a balanced budget by 2026-2027, the Fraser Institute said in its latest study. Balancing the budget by 2025-2026 is also achievable, the report said, but would require a 4.3 percent reduction in program spending. “This accumulation of debt, along with recent hikes in interest rates, has raised the cost of interest on the federal debt to one of the largest budget expense items,” Fraser Institute director of fiscal studies Jake Fuss said in a Feb.13 release....

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