A Deficit Paid by Workers and a Bailout for the Wealthy
Canada's deficit is projected to rise by $17 billion, with ordinary Canadians facing cuts to essential services, while the ultra-wealthy and multinational corporations avoid billions in taxes.
Closing loopholes and taxing hidden offshore wealth could fully fund health care, housing, and education, proving the crisis is a political choice, not an economic necessity.
Deficits aren’t inherently good or bad—public investments in health care, education, housing, infrastructure, and other essential services have long helped build the affordable, liveable Canada that previous generations benefited from.
- National deficit increase: $17 billion
- Projected deficit: $68.5 billion (2.2 percent of GDP) in 2025-26
Author's summary: Canada's budget crisis affects ordinary citizens.