OTTAWA — Conservative Leader Pierre Poilievre accused the Liberal government of worsening Canada’s fiscal position Tuesday, arguing the latest economic update reflects continued growth in spending and debt.Speaking in the House of Commons moments after Finance Minister François-Philippe Champagne tabled the spring economic statement, Poilievre said the government has significantly expanded the deficit compared to earlier projections.“He doubled the deficit from $31 billion to $65 billion,” Poilievre said, criticizing what he described as ongoing “credit card” spending by the federal government.Poilievre also pointed to rising affordability pressures, citing increased reliance on food banks and higher living costs, which he linked to government spending and inflation.He said interest payments on the federal debt are projected to reach roughly $59 billion this year, exceeding both federal health transfers and revenues collected through the GST.The spring update projects a $66.8 billion deficit for the 2025–26 fiscal year, down from the $78.3 billion forecast last fall, while maintaining plans for continued spending on infrastructure, defence and investment programs..The Canadian Taxpayers Federation also criticized the update, arguing the government is already exceeding its own spending targets. “Carney just released his budget six months ago and he’s already on track to spend $6 billion over budget,” said CTF federal director Franco Terrazzano.According to the update, federal program spending is projected to reach $594.8 billion in 2026–27, compared to $588.3 billion forecast in the fall budget.“The budget update shows the debt continues to spiral out of control because spending continues to spiral out of control,” Terrazzano said.The CTF also pointed to continued borrowing, with the federal government expected to take on roughly $65 billion in new debt this year, pushing total federal debt toward $1.4 trillion.Debt servicing costs are projected to reach $58.7 billion, exceeding both health transfers to provinces and revenues collected through the GST, according to the group.“The Carney government will brag about a smaller deficit last year, but it still borrowed billions more than planned,” Terrazzano said.
