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Published: October 24, 2026 at 10:20a.m. EDTCanada’s parliamentary budget officer is raising concerns over Canada’s debt levels, with the federal government set to table its budget in a little over a week. The PBO released her latest economic forecast on Tuesday, which is projecting slower growth in the country’s real GDP forecast, and laying the blame at the feet of the U. S. tariff war on Canada. The outlook also spells trouble for the federal government’s debt, and the cost of servicing that debt, projecting a growing debt-to-GDP ratio in the coming years. Declining deficit-to-GDP ratio is one of the federal government’s fiscal anchors. But, according to PBO Annette Ryan, the charges to service the debt is “the fastest-growing piece of government spending right now.”How to set CTV News as your preferred source on Google“It sounds like a strong word to say ‘anchor,’ that spending is going to be held in check, but keep in mind … the government has a very, very expansionary plan,” Ryan told CTV Question Period host Vassy Kapelos in an interview airing Sunday, when asked what that means for the fiscal health of the government’s finances.

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