Jason Jacques, interim parliamentary budget officer, prepares to appear before the Standing Committee on Government Operations and Estimates on Parliament Hill in Ottawa on Sept. 25, 2025. The Canadian Press/Justin Tang
The Liberal government is unlikely to meet the two fiscal anchors outlined in its latest budget, or to have the declining debt-to-GDP ratio promised in previous budgets, the interim Parliamentary Budget Officer (PBO) says.
A fiscal anchor, often referred to as a fiscal guardrail, is designed to steer decisions related to spending, taxation, and borrowing. But interim PBO Jason Jacques told the parliamentary government operations committee on Nov. 20 that analysis by his office found Ottawa has “a low probability of respecting the fiscal anchors” it has set out for itself.
