A former parliamentary budget officer has criticized the current fiscal watchdog for his alarming assessment of Canada’s financial situation. Kevin Page, who held the position of Canada’s first parliamentary budget officer starting in 2008, expressed his disagreement with the language used by the current PBO, Jason Jacques. Page stated that the language employed by Jacques, who was appointed interim PBO last month, is misleading and should be retracted.
During an interview on CBC’s “Power & Politics,” Page emphasized that the portrayal of Canada’s fiscal state as “stupefying,” “shocking,” and “unsustainable” by Jacques is not in line with the actual financial data. He urged Jacques to reconsider his statements for the benefit of the office and the public perception of the country’s financial stability.
Page, who now leads the Institute of Fiscal Studies and Democracy at the University of Ottawa, highlighted that such sensational language is atypical for a non-partisan position like that of the parliamentary budget officer. He compared it to the reserved tones commonly used by officials like the governor of the Bank of Canada or the auditor general.
Looking ahead, Page anticipates a more measured approach in Jacques’s future communications. He stressed the importance of clear government plans to address any fiscal challenges in the upcoming budget. The parliamentary budget officer plays a crucial role in providing independent economic and financial analysis to the Senate and the House of Commons as a non-partisan officer of Parliament.
While acknowledging the latest report from the PBO projecting a significant increase in the federal deficit, Page maintained that Canada’s financial situation is relatively stable compared to other G7 nations. He pointed out that factors such as economic slowdowns and NATO commitments contribute to deficit fluctuations, emphasizing the sustainability of Canada’s current fiscal position.
