“Stupefying,” “shocking” and “unsustainable” — those were just some of the words Ottawa’s fiscal watchdog used Thursday to describe his scathing forecast for federal finances ahead of a long-anticipated fall budget…
“The general and most important fiscal anchor for any government, is a declining or at least stable debt-to-GDP ratio, and this is the first time in 30 years that I’ve seen one where that ratio is going up overtime,” said interim Parliamentary Budget Officer Jason Jacques, during testimony in front of the operations and estimates committee on Thursday. “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, because it’s certainly not sustainable.”