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r/canada · u/throwaway1215123Aug 1, 2026, 3:05 PM

Canada records much smaller budget deficit over first two months of 2026/27

119

Comments

u/Suspiciouslynamed741Aug 1, 2026, 3:14 PM
From 9.91 billion to 1.36 billion? Thanks is a huge decrease. That's an 86% reduction. Of course it's just looking at a small piece of a year and it makes me wonder if some expenditures in the same period in 2025 were one time or something. Still that's huge. I'm curious if people are feeling it in social programs or in other places that affect the public. The article says some of it has to do with increased revenues but that's not all...
- u/squi9931Aug 1, 2026, 3:55 PM
  Just for 2 months, still adding debt. Federal debt sits at 1.3 trillion dollars.
  - u/Suspiciouslynamed741Aug 1, 2026, 4:03 PM1 reply
  - u/captainbling1Aug 1, 2026, 4:49 PM
  - u/Fyrefawx1Aug 1, 2026, 5:17 PM
- u/TGrumms1Aug 1, 2026, 3:55 PM
  It also says expenditures grew a little over 3% this year and this is due to higher revenues.
u/thebookman211Aug 1, 2026, 3:14 PM
🎉🎉
u/timx841Aug 1, 2026, 3:21 PM
Cons getting everything they wanted from a conservative government but hate it because it’s a conservative PM under the “Liberal” brand. We’re getting a better globally connected Stephen Harper right now.
- u/MentalSky_1Aug 1, 2026, 3:35 PM
  They are also upset saying the liberals are just copying them. No. The liberals can sell it to the voter because they do add the racists, sexist, anti-immigrant, and homophobic undertones the conservatives can’t help themselves to add
  - u/Life-Anteater-82941Aug 1, 2026, 3:40 PM1 reply
  - u/timx841Aug 1, 2026, 3:44 PM
  - u/langois19721Aug 1, 2026, 4:03 PM
  - u/iSmashedUrSister1Aug 1, 2026, 4:45 PM
  - u/Fyrefawx1Aug 1, 2026, 5:19 PM
- u/slouchr1Aug 1, 2026, 3:36 PM
  Cons want less government, Carney is spending more that Trudeau post covid.
  
  spending is the single metric you can basically judge a government by. for small gov conservatives, more is bad, less is better.
  
  every single announcement he makes is more spending.
  
  he's not decreasing spending, he's not getting rid of bureaucracy, he's not cutting taxes, he's not dropping barriers to international business.
  
  Revenues over the two months grew by 15.5% on increases in most major categories - primarily gains in income and excise taxes - while expenses posted a more modest 3.7% gain.
  
  they did it by taking more from us in taxes. they did not cut spending. spending increased by 3.7%
  
  you have slave mentality.
  - u/timx841Aug 1, 2026, 3:39 PM1 reply
- u/giftman031Aug 1, 2026, 3:36 PM
  FuCK cArNeY!!!! Oh wait…he’s actually improving the country…
  - u/Full_Jellyfish_18621Aug 1, 2026, 3:50 PM4 replies
- u/Logical-Breakfast1501Aug 1, 2026, 3:40 PM
  Trudeau pushed through a lot of new progressive programs. Fair credit to the NDP for ensuring that that happened. Low-Income and seniors pharmacare and dental care, subsidized daycare, extended parental leave when both parents take time off, legalizing cannabis, legalizing MAID. So far Carney has not cut any of this. He chose instead to go after the carbon tax, Trudeau's other signature piece of legislation. If he keeps his hands off these new programs and finds a way to stabilize our government budget that ensures a sustainable future for them to continue, I feel like that's a pretty good sequence for the liberal party leadership. It all pulls in the same direction over the long term, the result is real meaningful progress towards a more fair society.
  - u/BloatJams1Aug 1, 2026, 5:40 PM
- u/Electrical_Acadia5801Aug 1, 2026, 3:45 PM
  Lolz, 67 billion dollar deficit 2.2 in total liabilities Still printing money Green lighting a few infrastructure projects without turning the taps off is theatre. But the 55+ crowd won't be voting for benefit reductions or allowing competitive taxation and regulatory zoning untill the pennies are gone. Thinking this is the conservative agenda is a unique take to say the least.
  - u/timx841Aug 1, 2026, 3:48 PM1 reply
  - u/Suspiciouslynamed741Aug 1, 2026, 3:50 PM1 reply
- u/physicaldiscs1Aug 1, 2026, 3:50 PM
  Weird generalization,. Many are quite content with many of the changes from Carney. What I think we have here is a disconnect though. Carney is not Stephen Harper 2.0. There are still many LPC style policies going through. Those are usually where the discontent lies.
- u/chess_the_cat1Aug 1, 2026, 4:33 PM
  Deficits and debt are not why any CPC voter wants. Read it again. There is still a deficit. And there have been for over ten years. Our debt has never been higher. Life is increasingly more difficult. The picture is not rosy 😂
  - u/timx841Aug 1, 2026, 4:48 PM
  - u/squirrel90001Aug 1, 2026, 5:18 PM
- u/r8e8tion1Aug 1, 2026, 5:01 PM
  As a con I’m happy with him, I have my criticisms but it’s on specific incidents instead of platform as a whole
  - u/timx841Aug 1, 2026, 5:03 PM
u/mattlerenardx1Aug 1, 2026, 3:28 PM
I am CPC supporter but I obviously am happy to read these news. Go Canada.
- u/odoc_1Aug 1, 2026, 3:34 PM
  Agreed!
- u/timx841Aug 1, 2026, 3:40 PM
  You got a conservative PM. Carney is more Conservative than Harper, but I just think he couldn’t stomach the flat earther/young earth/anti abortion conservatives that seem to run that party now.
  - u/Harvey-Specter1Aug 1, 2026, 3:49 PM
  - u/physicaldiscs1Aug 1, 2026, 3:52 PM
  - u/Kanapka641Aug 1, 2026, 3:56 PM
  - u/mattlerenardx1Aug 1, 2026, 4:45 PM1 reply
- u/Thirdnipple791Aug 1, 2026, 4:29 PM
  I think most of us just want a centralist common sense government without every issue being about identity politics. Just run a fucking boring efficient government. Not everyone will agree on every policy, but really a majority of governing should be relatively uncontroversial.
  - u/Reasonable-Catch-5981Aug 1, 2026, 4:42 PM
u/TimedOutClock1Aug 1, 2026, 3:30 PM
Literally what happens when you get someone competent at the helm. Not happy about some of the concessions and back bending we did for the US in some files, but the overall picture couldn't be more rosy economically speaking in our current situation. Our global brand is soaring, we're forging new partnerships, and Canadians are moving forward and adapting instead of crumbling down like many predicted. Also huge shout-out to our banking sector for not absolutely fucking us in the ass. A lot of businesses have been under pressure due to tariffs, and our banks have been apparently more than understanding in modifying existing loans to make it all work instead of calling in debt or selling said debt at a loss to unload. Guess it's one of the rare wins of having a massively consolidated industry (that's also one of the most powerful in the world).
- u/Cloudboy90011Aug 1, 2026, 3:53 PM
  This is a story about a generational oil supply squeeze, not Carney, bailing out Canada's budget.
- u/duck10141Aug 1, 2026, 4:32 PM
  Literally bullshit. The main cause has absolutely nothing to do with Carney. What it ACTUALLY has to do with is the price of oil. That's it. That's all.
u/Saisinko1Aug 1, 2026, 3:32 PM
Oil prices and an increasingly worse exchange rate... which is good for exports.
u/squirrel90001Aug 1, 2026, 3:33 PM
Makes sense, the economy is doing better than anybody really expected and the estimates would have been far more pessimistic than what played out. They also tend to overstate the deficit estimates because it's better press to do better than worse.
- u/ModOfficial19881Aug 1, 2026, 3:59 PM
  It’s 100% due to Alberta and oil. Ontario and Quebec would never admit that though.
  - u/squirrel90001Aug 1, 2026, 4:30 PM
u/nebulatraveler231Aug 1, 2026, 3:38 PM
Thanks to oil. Not going to last though.
- u/AsleepExplanation1601Aug 1, 2026, 4:22 PM
  
  its 2028 election cycle and Trump is campaigning (somehow) on ending the Iran War with his tough guy vibes
- u/arayasem1Aug 1, 2026, 4:41 PM
  Then you didn’t read the article
u/2EscapedCapybaras1Aug 1, 2026, 3:48 PM
Well, the government predicted in their spring outlook a deficit of $71 billion for this year and you know damned well they'll do what they can to hit that target.
u/squi9931Aug 1, 2026, 3:51 PM
That is just for 2 months, still adding debt for Canadians. Check the debt clock out. https://www.debtclock.ca/
- u/Azure12031Aug 1, 2026, 3:58 PM
  I get all your points, but its crazy to think how fast we could pay off that debt if we massively increased our natural resource exports. Two more pipelines and 8 million barrels per day and the Feds are easily running a surplus. Dedicate $50b per year to pay off debt and we're golden. Canadians just don't get it how rich we could be as a country.
  - u/DukeCanada1Aug 1, 2026, 4:10 PM1 reply
  - u/squirrel90001Aug 1, 2026, 5:25 PM
u/jrchkn281Aug 1, 2026, 3:55 PM
I will reserve judgment until we see the full fiscal year. A two month comparison tells us very little because federal revenues, expenses and year end adjustments are not evenly distributed throughout the year.
- u/MJcorrieviewer1Aug 1, 2026, 4:28 PM
  Very true but a significant decrease for a couple of months is still better than the alternative. It also could indicate a trend.
- u/ILKLU1Aug 1, 2026, 5:00 PM
  
  I will reserve judgment until we see the full fiscal year.
  
  This is a both wise and intelligent approach. Now we need to teach this to the people that screech and foam at the mouth when the media reports the economy contracted by 0.1% over the last month (happened a few months ago).
  - u/iso32001Aug 1, 2026, 5:04 PM
- u/Fyrefawx1Aug 1, 2026, 5:15 PM
  And yet people were screaming about a recession over a 2 month sample size. Now the economy is growing again.
- u/Plucky_DuckYa1Aug 1, 2026, 5:39 PM
  It’s the oil money. The Liberals haven’t done anything to improve the economy or reduce spending. They are just enjoying the benefits of high oil prices thanks to the war Donald Trump started. Alberta is enjoying the same. What was forecast to be an enormous provincial deficit will now be a surplus. How big of a surplus will depend on how high oil prices go after the US strategic reserves run too low for Trump to continue releasing supplies to keep prices down. If Carney gets credit for this, then Danielle Smith gets credit for her fiscal management, too. And I *know* most of the readers of this sub would never give Smith any credit for the turnaround.
u/Ok-Committee-19321Aug 1, 2026, 3:57 PM
Long live carney!
u/Kanapka641Aug 1, 2026, 3:57 PM
High oil prices lol, wont last
- u/MJcorrieviewer1Aug 1, 2026, 4:28 PM
  What do you anticipate happening that will bring oil prices down?
u/-WhatsMyNameAgain--1Aug 1, 2026, 4:10 PM
Thanks Carney!
u/SasquatchBlumpkins1Aug 1, 2026, 4:12 PM
The only reason the deficit looks small is because the government has split it up. They have declared a large part of that deficit as an investment when historically it is not an investment, it is just spending. We were warned of this from the parliamentary budget officer and here it is coming into fruition and being claimed as a good thing. If anyone remembers the episode of The Simpsons where Homer used clips to pinch his fat to pull it to make him look skinnier that's exactly what this is. It's just hiding the debt behind different words and not including it in the deficit where it should be When this government is finally removed Canadians eyes are going to be opened to the amount of how truly we have been screwed economically.
- u/joeasks1Aug 1, 2026, 4:24 PM
  Homer did lose weight in that episode, his skin just sagged
  - u/SasquatchBlumpkins1Aug 1, 2026, 4:25 PM
u/mikeffd1Aug 1, 2026, 4:25 PM
What’s a deficit?
u/chess_the_cat1Aug 1, 2026, 4:28 PM
A deficit is still a deficit. It’s like saying I only gained 2 pounds this month when I thought I might gain 3. You’re still fatter.
u/scaffold_ape1Aug 1, 2026, 4:36 PM
Breaking news: Cherrypicking data yields favorable results.
- u/iSmashedUrSister1Aug 1, 2026, 4:51 PM
  Only when Liberals do it. Something something Maple Maga, PP, Milhouse Conservatives would be so much worse!
u/No-Tackle-61121Aug 1, 2026, 5:18 PM
GDP well outpacing expectations and deficit coming in well under expectations? Still preliminary numbers with half a year to go but appears to be a very strong year for Canada.