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The receipts

Sources

This page lists every figure in the drained.ca data registry. Each entry names the publisher, the document, and the page, table or section that holds the value, with a link and the date we last checked it. A source link beside a number anywhere on the site leads to its entry here.

Every entry carries a status label, so an official forecast is never passed off as a result. Figures marked drained.ca scenario are our own projections, not official forecasts, and each one cites where its assumptions are set out. Calculated figures show their formula and every input.

329 figures from 53 documents.

Status labels

Actual
Published result, or a fact set by law or order.
Preliminary
First published figure; the publisher may revise it.
Estimate
The publisher's estimate of a past or current value.
Forecast
The publisher's projection of a future period.
drained.ca scenario
Our own projection, not an official forecast. It cites where its assumptions are set out.

Alberta finances

Government of Alberta total revenue, 2026-27 (first-quarter forecast)

Forecast

alberta.revenue.fy2026-27

$86,279,000,000 ($86.3B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
86279000000

First-quarter forecast (August 27, 2026). The 2026-27 forecast moved from a deficit at Budget 2026 to a surplus, mainly on higher oil prices.

Government of Alberta total revenue, 2026-27 (Budget 2026 estimate)

Forecast

alberta.revenue_budget.fy2026-27

$74,550,000,000 ($74.6B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
74550000000

Budget 2026 estimate (February 26, 2026), since updated by the first-quarter forecast.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Total revenue" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Government of Alberta total expense, 2026-27 (first-quarter forecast)

Forecast

alberta.expense.fy2026-27

$84,237,000,000 ($84.2B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
84237000000

First-quarter forecast (August 27, 2026). The 2026-27 forecast moved from a deficit at Budget 2026 to a surplus, mainly on higher oil prices.

Government of Alberta total expense, 2026-27 (Budget 2026 estimate)

Forecast

alberta.expense_budget.fy2026-27

$83,922,000,000 ($83.9B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
83922000000

Budget 2026 estimate (February 26, 2026), since updated by the first-quarter forecast.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Total expense" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Government of Alberta surplus or deficit, 2026-27 (first-quarter forecast)

Forecast

alberta.balance.fy2026-27

$2,041,000,000 ($2.0B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
2041000000

First-quarter forecast (August 27, 2026). The 2026-27 forecast moved from a deficit at Budget 2026 to a surplus, mainly on higher oil prices.

Government of Alberta surplus or deficit, 2026-27 (Budget 2026 estimate)

Forecast

alberta.balance_budget.fy2026-27

-$9,373,000,000 (-$9.4B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
-9373000000

Budget 2026 estimate (February 26, 2026), since updated by the first-quarter forecast.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Surplus / (deficit)" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Government of Alberta debt servicing costs, 2026-27 (first-quarter forecast)

Forecast

alberta.debt_servicing.fy2026-27

$3,182,000,000 ($3.2B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
3182000000

First-quarter forecast (August 27, 2026). The 2026-27 forecast moved from a deficit at Budget 2026 to a surplus, mainly on higher oil prices.

Government of Alberta debt servicing costs, 2026-27 (Budget 2026 estimate)

Forecast

alberta.debt_servicing_budget.fy2026-27

$3,407,000,000 ($3.4B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
3407000000

Budget 2026 estimate (February 26, 2026), since updated by the first-quarter forecast.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Debt servicing costs" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Government of Alberta total revenue, 2025-26 (third-quarter forecast)

Forecast

alberta.revenue.fy2025-26

$75,292,000,000 ($75.3B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
75292000000

Latest official figure: the 2025-26 Annual Report has been delayed by the health-system restructuring. Alberta has said it expects the year to end in a surplus but has not published a number.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Total revenue" row, 2025-26 Forecast columnPublished February 26, 2026. Accessed September 28, 2026.

Government of Alberta total expense, 2025-26 (third-quarter forecast)

Forecast

alberta.expense.fy2025-26

$79,426,000,000 ($79.4B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
79426000000

Latest official figure: the 2025-26 Annual Report has been delayed by the health-system restructuring. Alberta has said it expects the year to end in a surplus but has not published a number.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Total expense" row, 2025-26 Forecast columnPublished February 26, 2026. Accessed September 28, 2026.

Government of Alberta surplus or deficit, 2025-26 (third-quarter forecast)

Forecast

alberta.balance.fy2025-26

-$4,134,000,000 (-$4.1B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
-4134000000

Latest official figure: the 2025-26 Annual Report has been delayed by the health-system restructuring. Alberta has said it expects the year to end in a surplus but has not published a number.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Surplus / (deficit)" row, 2025-26 Forecast columnPublished February 26, 2026. Accessed September 28, 2026.

Government of Alberta total revenue, 2024-25

Actual

alberta.revenue.fy2024-25

$82,469,000,000 ($82.5B)

Period
FY2024-25
Unit
Canadian dollars
Stored value
82469000000
  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Total revenue" row, 2024-25 Actual columnPublished February 26, 2026. Accessed September 28, 2026.

Government of Alberta total expense, 2024-25

Actual

alberta.expense.fy2024-25

$74,149,000,000 ($74.1B)

Period
FY2024-25
Unit
Canadian dollars
Stored value
74149000000
  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Total expense" row, 2024-25 Actual columnPublished February 26, 2026. Accessed September 28, 2026.

Government of Alberta surplus or deficit, 2024-25

Actual

alberta.balance.fy2024-25

$8,320,000,000 ($8.3B)

Period
FY2024-25
Unit
Canadian dollars
Stored value
8320000000
  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Surplus / (deficit)" row, 2024-25 Actual columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta net financial debt, March 31, 2025

Actual

alberta.net_debt.2025-03-31

$34,337,000,000 ($34.3B)

Period
2025-03-31
Unit
Canadian dollars
Stored value
34337000000

Alberta's "net debt" measure: financial assets minus liabilities (net financial debt). It counts the Heritage Fund as a financial asset.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, "Summary Statement of Financial Position", p. 147 (millions of dollars), "Net financial assets / (debt)" row, 2025 Actual columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta net financial debt, March 31, 2026 (forecast)

Forecast

alberta.net_debt.2026-03-31

$39,699,000,000 ($39.7B)

Period
2026-03-31
Unit
Canadian dollars
Stored value
39699000000

Alberta's "net debt" measure: financial assets minus liabilities (net financial debt). It counts the Heritage Fund as a financial asset.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, "Summary Statement of Financial Position", p. 147 (millions of dollars), "Net financial assets / (debt)" row, 2026 Forecast columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta net financial debt, March 31, 2027 (first-quarter forecast)

Forecast

alberta.net_debt.2027-03-31

$40,280,000,000 ($40.3B)

Period
2027-03-31
Unit
Canadian dollars
Stored value
40280000000

Alberta's "net debt" measure: financial assets minus liabilities (net financial debt). It counts the Heritage Fund as a financial asset.

Alberta net financial debt, March 31, 2027 (Budget 2026 estimate)

Forecast

alberta.net_debt_budget.2027-03-31

$51,363,000,000 ($51.4B)

Period
2027-03-31
Unit
Canadian dollars
Stored value
51363000000

Alberta's "net debt" measure: financial assets minus liabilities (net financial debt). It counts the Heritage Fund as a financial asset.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, "Summary Statement of Financial Position", p. 147 (millions of dollars), "Net financial assets / (debt)" row, 2027 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta taxpayer-supported debt, March 31, 2025

Actual

alberta.taxpayer_supported_debt.2025-03-31

$85,225,000,000 ($85.2B)

Period
2025-03-31
Unit
Canadian dollars
Stored value
85225000000

Borrowing for the Capital Plan and the Fiscal Plan, plus public-private partnership liabilities and pre-1992 Teachers' Pension Plan debt; excludes self-supported lending.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 2 "Statement of Financial Position", p. 149 (millions of dollars), "Total taxpayer-supported debt" row, 2025 Actual columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta taxpayer-supported debt, March 31, 2026 (forecast)

Forecast

alberta.taxpayer_supported_debt.2026-03-31

$92,086,000,000 ($92.1B)

Period
2026-03-31
Unit
Canadian dollars
Stored value
92086000000

Borrowing for the Capital Plan and the Fiscal Plan, plus public-private partnership liabilities and pre-1992 Teachers' Pension Plan debt; excludes self-supported lending.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 2 "Statement of Financial Position", p. 149 (millions of dollars), "Total taxpayer-supported debt" row, 2026 Forecast columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta taxpayer-supported debt, March 31, 2027 (first-quarter forecast)

Forecast

alberta.taxpayer_supported_debt.2027-03-31

$94,813,000,000 ($94.8B)

Period
2027-03-31
Unit
Canadian dollars
Stored value
94813000000

Borrowing for the Capital Plan and the Fiscal Plan, plus public-private partnership liabilities and pre-1992 Teachers' Pension Plan debt; excludes self-supported lending.

Alberta taxpayer-supported debt, March 31, 2027 (Budget 2026 estimate)

Forecast

alberta.taxpayer_supported_debt_budget.2027-03-31

$108,867,000,000 ($108.9B)

Period
2027-03-31
Unit
Canadian dollars
Stored value
108867000000

Borrowing for the Capital Plan and the Fiscal Plan, plus public-private partnership liabilities and pre-1992 Teachers' Pension Plan debt; excludes self-supported lending.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 2 "Statement of Financial Position", p. 149 (millions of dollars), "Total taxpayer-supported debt" row, 2027 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta net financial debt as a share of GDP, 2024-25

Actual

alberta.net_debt_to_gdp.fy2024-25

7.2%

Period
FY2024-25
Unit
Ratio, shown as a percentage
Stored value
0.072

Alberta reports this was the lowest ratio among the provinces in 2024-25 (Fiscal Plan 2026-29, p. 137).

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, "Summary Statement of Financial Position", p. 147 (millions of dollars), "Net debt to GDP" row, 2025 Actual columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta net financial debt as a share of GDP, 2025-26 (forecast)

Forecast

alberta.net_debt_to_gdp.fy2025-26

8.3%

Period
FY2025-26
Unit
Ratio, shown as a percentage
Stored value
0.083

Year-end net financial debt over calendar-year nominal GDP.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, "Summary Statement of Financial Position", p. 147 (millions of dollars), "Net debt to GDP" row, 2026 Forecast columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta net financial debt as a share of GDP, 2026-27 (first-quarter forecast)

Forecast

alberta.net_debt_to_gdp.fy2026-27

7.7%

Period
FY2026-27
Unit
Ratio, shown as a percentage
Stored value
0.077

Year-end net financial debt over calendar-year nominal GDP.

Alberta net financial debt as a share of GDP, 2026-27 (Budget 2026 estimate)

Forecast

alberta.net_debt_to_gdp_budget.fy2026-27

10.5%

Period
FY2026-27
Unit
Ratio, shown as a percentage
Stored value
0.105
  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, "Summary Statement of Financial Position", p. 147 (millions of dollars), "Net debt to GDP" row, 2027 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Heritage Savings Trust Fund, fair value of net financial assets, December 31, 2025

Actual

alberta.heritage_fund.fair_value.2025-12-31

$31,900,000,000 ($31.9B)

Period
2025-12-31
Unit
Canadian dollars
Stored value
31900000000

Latest published fair value. The Fiscal Plan balance sheet reports the fund on a different basis.

  • Government of Alberta, Heritage Savings Trust Fund (opens in a new tab)Section "2025-26 Third quarter report update": "As of December 31, 2025, the fair value of Heritage Fund net financial assets was $31.9 billion."Accessed September 28, 2026.

Alberta Heritage Savings Trust Fund, balance-sheet value, March 31, 2025

Actual

alberta.heritage_fund.2025-03-31

$24,743,000,000 ($24.7B)

Period
2025-03-31
Unit
Canadian dollars
Stored value
24743000000

Fiscal Plan balance-sheet basis, not fair value.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 2 "Statement of Financial Position", p. 149 (millions of dollars), "Alberta Heritage Savings Trust Fund" row, 2025 Actual columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Heritage Savings Trust Fund, balance-sheet value, March 31, 2027 (first-quarter forecast)

Forecast

alberta.heritage_fund.2027-03-31

$34,353,000,000 ($34.4B)

Period
2027-03-31
Unit
Canadian dollars
Stored value
34353000000

Fiscal Plan balance-sheet basis, not fair value.

S&P Global long-term credit rating, Province of Alberta

Actual

alberta.credit_rating.sp.2026

“AA-”
Period
2026-05-13
Unit
Verbatim text

Latest rating action May 13, 2026; outlook: Stable.

S&P Global rating outlook, Province of Alberta

Actual

alberta.credit_outlook.sp.2026

“Stable”
Period
2026-05-13
Unit
Verbatim text

Moody's Investors Service long-term credit rating, Province of Alberta

Actual

alberta.credit_rating.moodys.2026

“Aa2”
Period
2026-08-31
Unit
Verbatim text

Latest rating action August 31, 2026; outlook: Stable.

Moody's Investors Service rating outlook, Province of Alberta

Actual

alberta.credit_outlook.moodys.2026

“Stable”
Period
2026-08-31
Unit
Verbatim text

DBRS Morningstar long-term credit rating, Province of Alberta

Actual

alberta.credit_rating.dbrs.2026

“AA”
Period
2026-09-09
Unit
Verbatim text

Latest rating action September 9, 2026; outlook: Stable trend.

DBRS Morningstar rating outlook, Province of Alberta

Actual

alberta.credit_outlook.dbrs.2026

“Stable trend”
Period
2026-09-09
Unit
Verbatim text

Fitch Ratings Inc. long-term credit rating, Province of Alberta

Actual

alberta.credit_rating.fitch.2026

“AA”
Period
2026-05-22
Unit
Verbatim text

Latest rating action May 22, 2026; outlook: Stable.

Fitch Ratings Inc. rating outlook, Province of Alberta

Actual

alberta.credit_outlook.fitch.2026

“Stable”
Period
2026-05-22
Unit
Verbatim text

Median total income, Alberta economic families and persons not in an economic family, 2024

Actual

alberta.median_total_income.families_and_unattached.2024

$96,600

Period
2024
Unit
Canadian dollars
Stored value
96600

Canadian Income Survey, 2024 constant dollars. The closest published measure to a household median.

Median total income, Alberta economic families (two or more people), 2024

Actual

alberta.median_total_income.economic_families.2024

$132,700

Period
2024
Unit
Canadian dollars
Stored value
132700

Canadian Income Survey, 2024 constant dollars.

Median employment income, Albertans aged 15 and over with employment income, 2024

Actual

alberta.median_employment_income.2024

$48,400

Period
2024
Unit
Canadian dollars
Stored value
48400

Canadian Income Survey, 2024 constant dollars. An individual measure, matching a calculator that taxes one person's income.

Average employment income, Albertans aged 15 and over with employment income, 2024

Actual

alberta.average_employment_income.2024

$64,400

Period
2024
Unit
Canadian dollars
Stored value
64400

Canadian Income Survey, 2024 constant dollars. The mean, pulled up by high earners; the median (alberta.median_employment_income.2024) describes the typical earner.

Alberta net financial debt per Albertan, March 31, 2027 (first-quarter forecast)

DerivedForecast

alberta.net_debt.per_person.2027-03-31

$7,896

Period
2027-03-31
Unit
Canadian dollars
Stored value
7896.4134834985

Formula: Alberta net financial debt at March 31, 2027 ÷ population of Alberta on July 1, 2026

Inputs

Benchmarks

Average Canadian family income, 2025 (Fraser Institute, Canadian Consumer Tax Index)

Estimate

benchmarks.fraser.ccti_family_income.2025

$121,111

Period
2025
Unit
Canadian dollars
Stored value
121111

Fraser Institute analysis, not an official statistic. A national average for Canadian families on Fraser's broad income measure; there is no Alberta-specific figure in this edition.

Total taxes paid by the average Canadian family, 2025 (Fraser Institute, Canadian Consumer Tax Index)

Estimate

benchmarks.fraser.ccti_family_total_taxes.2025

$50,721

Period
2025
Unit
Canadian dollars
Stored value
50721

Fraser Institute analysis, not an official statistic. Counts every tax paid to federal, provincial and local governments, visible and hidden: income, payroll, health, sales, property, fuel, carbon, vehicle, import, alcohol and tobacco taxes, among others (third paragraph). drained.ca's calculator counts only one earner's income tax, CPP and EI.

Tax Freedom Day 2026, Canada (Fraser Institute: all taxes, families of two or more)

Estimate

benchmarks.fraser.tax_freedom_day.canada.2026

June 9, 2026

Period
2026
Unit
Date

Fraser Institute analysis: the day the average Canadian family of two or more has earned enough to pay all of its 2026 taxes, including income, payroll (with the CPP), health, sales, property, fuel and "sin" taxes. Not comparable with drained.ca's Tax Freedom Day, which counts only one earner's income tax, CPP and EI.

Tax Freedom Day 2026, Alberta (Fraser Institute: all taxes, families of two or more)

Estimate

benchmarks.fraser.tax_freedom_day.alberta.2026

May 25, 2026

Period
2026
Unit
Date

Fraser Institute analysis: Alberta's date is the second earliest after Saskatchewan's. It counts every tax the average Alberta family of two or more pays, so it falls much later than drained.ca's date, which counts only one earner's income tax, CPP and EI.

Standard hours of work in a day (Canada Labour Code)

Actual

benchmarks.work_hours.standard_day.2026

8

Period
2026
Unit
Count
Stored value
8

The federal standard workday. Alberta's Employment Standards Code starts overtime after 8 hours in a day or 44 in a week; drained.ca uses the federal 8-hour day and 40-hour week for every per-day and per-hour figure.

Standard hours of work in a week (Canada Labour Code)

Actual

benchmarks.work_hours.standard_week.2026

40

Period
2026
Unit
Count
Stored value
40

The federal standard work week, the basis of drained.ca's working-hours convention (see the full-time year below).

RRSP dollar limit, 2026

Actual

benchmarks.cra.rrsp_dollar_limit.2026

$33,810

Period
2026
Unit
Canadian dollars
Stored value
33810

The most anyone can deduct in RRSP contributions for 2026 from their own earnings, whatever their income.

Food spending for an average family of four, 2026 (Canada's Food Price Report forecast)

Forecast

benchmarks.food.family_of_four.2026

$17,572

Period
2026
Unit
Canadian dollars
Stored value
17571.79

University researchers' forecast (analysis), not an official statistic. A national average for a family of four.

Working hours in a full-time year (drained.ca convention)

DerivedActual

benchmarks.work_hours.full_time_year

2,080

Period
2026
Unit
Count
Stored value
2080

Formula: standard work week under the Canada Labour Code × 52 weeks

Inputs

The one hours basis for every per-hour figure on drained.ca: 52 weeks of the 40-hour standard week. It counts holidays and vacation as working time, so for most full-time workers it gives a lower per-hour figure than dividing by the hours they actually work.

Share of the average Canadian family's income paid in taxes, 2025 (Fraser Institute)

DerivedEstimate

benchmarks.fraser.ccti_tax_share.2025

41.9%

Period
2025
Unit
Ratio, shown as a percentage
Stored value
0.418797631924433

Formula: the average Canadian family's total taxes ÷ its income, 2025

Inputs

Fraser Institute analysis; the release rounds this to 42 per cent.

Taxes paid per day by the average Canadian family, 2025 (from Fraser Institute figures)

DerivedEstimate

benchmarks.fraser.ccti_family_total_taxes_per_day.2025

$139

Period
2025
Unit
Canadian dollars
Stored value
138.961643835616

Formula: the average Canadian family's total taxes, 2025 ÷ 365 days

Inputs

Weekly food spending for an average family of four, 2026 (forecast)

DerivedForecast

benchmarks.food.family_of_four.per_week.2026

$338

Period
2026
Unit
Canadian dollars
Stored value
337.919038461538

Formula: forecast food spending for a family of four, 2026 ÷ 52 weeks

Inputs

Monthly saving needed to reach the 2026 RRSP dollar limit

DerivedActual

benchmarks.cra.rrsp_dollar_limit.per_month.2026

$2,818

Period
2026
Unit
Canadian dollars
Stored value
2817.5

Formula: RRSP dollar limit, 2026 ÷ 12 months

Inputs

Debt

Federal accumulated deficit ("federal debt"), March 31, 2025

Actual

debt.federal.accumulated_deficit.2025-03-31

$1,266,484,000,000 ($1.3T)

Period
2025-03-31
Unit
Canadian dollars
Stored value
1266484000000

Finance Canada's "federal debt": total liabilities minus all assets, financial and non-financial. It equals net debt minus non-financial assets such as buildings, equipment and land.

Federal accumulated deficit ("federal debt"), March 31, 2026 (Spring Economic Update estimate)

Estimate

debt.federal.accumulated_deficit.2026-03-31

$1,333,900,000,000 ($1.3T)

Period
2026-03-31
Unit
Canadian dollars
Stored value
1333900000000

Finance Canada's "federal debt": total liabilities minus all assets, financial and non-financial. It equals net debt minus non-financial assets such as buildings, equipment and land. Finance Canada's estimate; the audited figure comes in the Annual Financial Report 2025-26.

Federal accumulated deficit, March 31, 2026 (preliminary, unaudited)

Preliminary

debt.federal.accumulated_deficit_preliminary.2026-03-31

$1,322,004,000,000 ($1.3T)

Period
2026-03-31
Unit
Canadian dollars
Stored value
1322004000000

Preliminary and unaudited ("have not been audited or reviewed by an external auditor"), before year-end adjustments; the audited result comes in the Annual Financial Report 2025-26.

  • Department of Finance Canada, The Fiscal Monitor, March 2026 (opens in a new tab)Table 7 Condensed statement of assets and liabilities, "Federal debt (accumulated deficit)", March 31, 2026 (millions of dollars)Published May 29, 2026. Accessed September 28, 2026.

Federal accumulated deficit ("federal debt"), March 31, 2027 (Spring Economic Update projection)

Forecast

debt.federal.accumulated_deficit.2027-03-31

$1,399,300,000,000 ($1.4T)

Period
2027-03-31
Unit
Canadian dollars
Stored value
1399300000000

Finance Canada's "federal debt": total liabilities minus all assets, financial and non-financial. It equals net debt minus non-financial assets such as buildings, equipment and land.

Federal net debt, March 31, 2025

Actual

debt.federal.net_debt.2025-03-31

$1,393,600,000,000 ($1.4T)

Period
2025-03-31
Unit
Canadian dollars
Stored value
1393600000000

Total liabilities minus financial assets. It does not subtract non-financial assets (buildings, equipment, land), so it is larger than the accumulated deficit.

Federal net debt, March 31, 2026 (Spring Economic Update estimate)

Estimate

debt.federal.net_debt.2026-03-31

$1,473,000,000,000 ($1.5T)

Period
2026-03-31
Unit
Canadian dollars
Stored value
1473000000000

Total liabilities minus financial assets. It does not subtract non-financial assets (buildings, equipment, land), so it is larger than the accumulated deficit.

Federal net debt, March 31, 2026 (preliminary, unaudited)

Preliminary

debt.federal.net_debt_preliminary.2026-03-31

$1,467,135,000,000 ($1.5T)

Period
2026-03-31
Unit
Canadian dollars
Stored value
1467135000000

Preliminary and unaudited ("have not been audited or reviewed by an external auditor"), before year-end adjustments; the audited result comes in the Annual Financial Report 2025-26.

Federal net debt, March 31, 2027 (Spring Economic Update projection)

Forecast

debt.federal.net_debt.2027-03-31

$1,556,000,000,000 ($1.6T)

Period
2027-03-31
Unit
Canadian dollars
Stored value
1556000000000

Total liabilities minus financial assets. It does not subtract non-financial assets (buildings, equipment, land), so it is larger than the accumulated deficit.

Federal non-financial assets, March 31, 2025

Actual

debt.federal.non_financial_assets.2025-03-31

$127,100,000,000 ($127.1B)

Period
2025-03-31
Unit
Canadian dollars
Stored value
127100000000

Tangible capital assets, inventories and prepaid expenses.

Federal non-financial assets, March 31, 2026 (Spring Economic Update estimate)

Estimate

debt.federal.non_financial_assets.2026-03-31

$139,100,000,000 ($139.1B)

Period
2026-03-31
Unit
Canadian dollars
Stored value
139100000000

Federal non-financial assets, March 31, 2027 (Spring Economic Update projection)

Forecast

debt.federal.non_financial_assets.2027-03-31

$156,800,000,000 ($156.8B)

Period
2027-03-31
Unit
Canadian dollars
Stored value
156800000000

Federal interest-bearing debt, March 31, 2025

Actual

debt.federal.interest_bearing_debt.2025-03-31

$1,869,300,000,000 ($1.9T)

Period
2025-03-31
Unit
Canadian dollars
Stored value
1869300000000

Unmatured debt plus pensions and other employee future benefits and other liabilities.

Federal unmatured debt (carrying value), March 31, 2025

Actual

debt.federal.unmatured_debt.2025-03-31

$1,485,900,000,000 ($1.5T)

Period
2025-03-31
Unit
Canadian dollars
Stored value
1485900000000

Market debt plus capital lease and public-private partnership obligations, at carrying value. Market debt alone is listed separately (Spring Economic Update 2026, Table A3.3).

Federal pensions and other employee and veteran future benefits, March 31, 2025

Actual

debt.federal.pensions_and_future_benefits.2025-03-31

$376,400,000,000 ($376.4B)

Period
2025-03-31
Unit
Canadian dollars
Stored value
376400000000

Federal market debt (bonds, treasury bills and foreign debt), March 31, 2025

Actual

debt.federal.market_debt.2025-03-31

$1,477,000,000,000 ($1.5T)

Period
2025-03-31
Unit
Canadian dollars
Stored value
1477000000000

Government of Canada securities held by investors. Market debt grows faster than the accumulated deficit because Ottawa also borrows to lend to Crown corporations.

Federal market debt (bonds, treasury bills and foreign debt), March 31, 2026

Estimate

debt.federal.market_debt.2026-03-31

$1,611,000,000,000 ($1.6T)

Period
2026-03-31
Unit
Canadian dollars
Stored value
1611000000000

Government of Canada securities held by investors. Market debt grows faster than the accumulated deficit because Ottawa also borrows to lend to Crown corporations.

Federal market debt (bonds, treasury bills and foreign debt), March 31, 2027

Forecast

debt.federal.market_debt.2027-03-31

$1,741,000,000,000 ($1.7T)

Period
2027-03-31
Unit
Canadian dollars
Stored value
1741000000000

Government of Canada securities held by investors. Market debt grows faster than the accumulated deficit because Ottawa also borrows to lend to Crown corporations.

Federal accumulated deficit as a share of GDP, 2024-25

Actual

debt.federal.accumulated_deficit_to_gdp.fy2024-25

40.7%

Period
FY2024-25
Unit
Ratio, shown as a percentage
Stored value
0.407

Restated for later GDP revisions; the ratio first published in the Annual Financial Report 2024-25 is listed separately.

Federal accumulated deficit as a share of GDP, 2024-25, as first published

Actual

debt.federal.accumulated_deficit_to_gdp_as_published.fy2024-25

41.2%

Period
FY2024-25
Unit
Ratio, shown as a percentage
Stored value
0.412

Before later GDP revisions; the restated ratio is listed separately.

Federal accumulated deficit ("federal debt") at March 31 of each year

SeriesActual

debt.federal.accumulated_deficit_history

Latest: $1,266,484,000,000 ($1.3T) (2025-03-31)

Period
2015-03-31 to 2025-03-31
Unit
Canadian dollars
Federal accumulated deficit ("federal debt") at March 31 of each year, by period
PeriodValue
2015-03-31$628.9B
2016-03-31$634.4B
2017-03-31$651.5B
2018-03-31$671.3B
2019-03-31$685.5B
2020-03-31$721.4B
2021-03-31$1.0T
2022-03-31$1.1T
2023-03-31$1.2T
2024-03-31$1.2T
2025-03-31$1.3T

Restated series: earlier years reflect later accounting changes, so a value can differ from the one first published in that year's Annual Financial Report.

Growth of the federal accumulated deficit per second, 2026-27

DerivedForecast

debt.federal.accumulated_deficit.per_second.fy2026-27

$2,074

Period
FY2026-27
Unit
Canadian dollars per second
Stored value
2073.8203957382

Formula: (accumulated deficit at March 31, 2027 − accumulated deficit at March 31, 2026) ÷ 31,536,000 seconds in 2026-27

Inputs

Spreads the Spring Economic Update 2026 projection for the year evenly over every second.

Projected increase in the federal accumulated deficit, 2026-27

DerivedForecast

debt.federal.accumulated_deficit.increase.fy2026-27

$65,400,000,000 ($65.4B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
65400000000

Formula: accumulated deficit at March 31, 2027 − accumulated deficit at March 31, 2026

Inputs

Growth of federal net debt per second, 2026-27

DerivedForecast

debt.federal.net_debt.per_second.fy2026-27

$2,632

Period
FY2026-27
Unit
Canadian dollars per second
Stored value
2631.91273465246

Formula: (net debt at March 31, 2027 − net debt at March 31, 2026) ÷ 31,536,000 seconds in 2026-27

Inputs

Spreads the Spring Economic Update 2026 projection for the year evenly over every second.

Federal accumulated deficit per Canadian, March 31, 2026

DerivedEstimate

debt.federal.accumulated_deficit.per_person.2026-03-31

$31,974

Period
2026-03-31
Unit
Canadian dollars
Stored value
31974.1587241441

Formula: accumulated deficit at March 31, 2026 ÷ population of Canada on April 1, 2026

Inputs

Federal net debt per Canadian, March 31, 2026

DerivedEstimate

debt.federal.net_debt.per_person.2026-03-31

$35,308

Period
2026-03-31
Unit
Canadian dollars
Stored value
35308.4457610497

Formula: net debt at March 31, 2026 ÷ population of Canada on April 1, 2026

Inputs

Federal accumulated deficit per Canadian, March 31, 2025

DerivedEstimate

debt.federal.accumulated_deficit.per_person.2025-03-31

$30,521

Period
2025-03-31
Unit
Canadian dollars
Stored value
30521.0462684182

Formula: audited accumulated deficit at March 31, 2025 ÷ population of Canada on April 1, 2025

Inputs

Federal accumulated deficit per individual tax return filed, March 31, 2026

DerivedEstimate

debt.federal.accumulated_deficit.per_tax_return.2026-03-31

$42,260

Period
2026-03-31
Unit
Canadian dollars
Stored value
42259.9596117837

Formula: accumulated deficit at March 31, 2026 ÷ individual income tax returns filed for 2024 (latest tax year)

Inputs

Increase in the federal accumulated deficit, March 31, 2015 to March 31, 2025

DerivedActual

debt.federal.accumulated_deficit.increase.2015-2025

$637,574,000,000 ($637.6B)

Period
2015-03-31 to 2025-03-31
Unit
Canadian dollars
Stored value
637574000000

Formula: accumulated deficit at March 31, 2025 − accumulated deficit at March 31, 2015

Inputs

Growth of the federal accumulated deficit, March 31, 2015 to March 31, 2025

DerivedActual

debt.federal.accumulated_deficit.growth.2015-2025

101.4%

Period
2015-03-31 to 2025-03-31
Unit
Ratio, shown as a percentage
Stored value
1.01377621599275

Formula: (accumulated deficit at March 31, 2025 ÷ accumulated deficit at March 31, 2015) − 1

Inputs

Federal finances

Federal budgetary revenues, 2025-26

Estimate

federal.revenue.fy2025-26

$511,500,000,000 ($511.5B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
511500000000

Spring Economic Update 2026 estimate for a year that had just ended; the audited result comes in the Annual Financial Report 2025-26.

Federal total expenses, 2025-26

Estimate

federal.expenses.fy2025-26

$578,300,000,000 ($578.3B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
578300000000

Spring Economic Update 2026 estimate for a year that had just ended; the audited result comes in the Annual Financial Report 2025-26.

Federal budgetary balance, 2025-26

Estimate

federal.balance.fy2025-26

-$66,900,000,000 (-$66.9B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
-66900000000

Spring Economic Update 2026 estimate for a year that had just ended; the audited result comes in the Annual Financial Report 2025-26.

Federal budgetary balance, 2026-27

Forecast

federal.balance.fy2026-27

-$65,300,000,000 (-$65.3B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
-65300000000

Spring Economic Update 2026 projection (the government's plan for the year).

Federal public debt charges (interest on the debt), 2025-26

Estimate

federal.pdc.fy2025-26

$54,000,000,000 ($54.0B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
54000000000

Spring Economic Update 2026 estimate for a year that had just ended; the audited result comes in the Annual Financial Report 2025-26.

Federal public debt charges (interest on the debt), 2026-27

Forecast

federal.pdc.fy2026-27

$58,700,000,000 ($58.7B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
58700000000

Spring Economic Update 2026 projection (the government's plan for the year).

Federal program expenses, excluding net actuarial losses, 2025-26

Estimate

federal.program_expenses.fy2025-26

$512,800,000,000 ($512.8B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
512800000000

Spring Economic Update 2026 estimate for a year that had just ended; the audited result comes in the Annual Financial Report 2025-26.

Federal program expenses, excluding net actuarial losses, 2026-27

Forecast

federal.program_expenses.fy2026-27

$536,100,000,000 ($536.1B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
536100000000

Spring Economic Update 2026 projection (the government's plan for the year).

Federal net actuarial losses, 2025-26

Estimate

federal.net_actuarial_losses.fy2025-26

$11,600,000,000 ($11.6B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
11600000000

Spring Economic Update 2026 estimate for a year that had just ended; the audited result comes in the Annual Financial Report 2025-26.

Federal net actuarial losses, 2026-27

Forecast

federal.net_actuarial_losses.fy2026-27

$100,000,000 ($100.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
100000000

Spring Economic Update 2026 projection (the government's plan for the year).

Major transfers to persons, 2025-26

Estimate

federal.major_transfers_to_persons.fy2025-26

$142,200,000,000 ($142.2B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
142200000000

Spring Economic Update 2026 estimate for a year that had just ended; the audited result comes in the Annual Financial Report 2025-26.

Major transfers to persons, 2026-27

Forecast

federal.major_transfers_to_persons.fy2026-27

$153,300,000,000 ($153.3B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
153300000000

Spring Economic Update 2026 projection (the government's plan for the year).

Elderly benefits (Old Age Security, Guaranteed Income Supplement and Allowance), 2025-26

Estimate

federal.elderly_benefits.fy2025-26

$83,000,000,000 ($83.0B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
83000000000

Spring Economic Update 2026 estimate for a year that had just ended; the audited result comes in the Annual Financial Report 2025-26.

Elderly benefits (Old Age Security, Guaranteed Income Supplement and Allowance), 2026-27

Forecast

federal.elderly_benefits.fy2026-27

$89,300,000,000 ($89.3B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
89300000000

Spring Economic Update 2026 projection (the government's plan for the year).

Employment Insurance benefits, 2025-26

Estimate

federal.ei_benefits.fy2025-26

$29,000,000,000 ($29.0B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
29000000000

Spring Economic Update 2026 estimate for a year that had just ended; the audited result comes in the Annual Financial Report 2025-26.

Employment Insurance benefits, 2026-27

Forecast

federal.ei_benefits.fy2026-27

$32,700,000,000 ($32.7B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
32700000000

Spring Economic Update 2026 projection (the government's plan for the year).

Canada Child Benefit, 2025-26

Estimate

federal.canada_child_benefit.fy2025-26

$30,200,000,000 ($30.2B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
30200000000

Spring Economic Update 2026 estimate for a year that had just ended; the audited result comes in the Annual Financial Report 2025-26.

Major transfers to provinces, territories and municipalities, 2025-26

Estimate

federal.major_transfers_to_governments.fy2025-26

$110,800,000,000 ($110.8B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
110800000000

Spring Economic Update 2026 estimate for a year that had just ended; the audited result comes in the Annual Financial Report 2025-26.

Major transfers to provinces, territories and municipalities, 2026-27

Forecast

federal.major_transfers_to_governments.fy2026-27

$115,600,000,000 ($115.6B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
115600000000

Spring Economic Update 2026 projection (the government's plan for the year).

Health agreements with provinces and territories, 2025-26

Estimate

federal.health_agreements.fy2025-26

$4,300,000,000 ($4.3B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
4300000000

Spring Economic Update 2026 estimate for a year that had just ended; the audited result comes in the Annual Financial Report 2025-26.

Health agreements with provinces and territories, 2026-27

Forecast

federal.health_agreements.fy2026-27

$4,300,000,000 ($4.3B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
4300000000

Spring Economic Update 2026 projection (the government's plan for the year).

Canada-wide early learning and child care transfers, 2025-26

Estimate

federal.early_learning_child_care.fy2025-26

$7,900,000,000 ($7.9B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
7900000000

Spring Economic Update 2026 estimate for a year that had just ended; the audited result comes in the Annual Financial Report 2025-26.

Canada-wide early learning and child care transfers, 2026-27

Forecast

federal.early_learning_child_care.fy2026-27

$8,600,000,000 ($8.6B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
8600000000

Spring Economic Update 2026 projection (the government's plan for the year).

Build Communities Strong Fund, Community Stream, 2025-26

Estimate

federal.build_communities_strong_fund.fy2025-26

$2,500,000,000 ($2.5B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
2500000000

Spring Economic Update 2026 estimate for a year that had just ended; the audited result comes in the Annual Financial Report 2025-26.

Build Communities Strong Fund, Community Stream, 2026-27

Forecast

federal.build_communities_strong_fund.fy2026-27

$2,500,000,000 ($2.5B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
2500000000

Spring Economic Update 2026 projection (the government's plan for the year).

Other fiscal arrangements (mainly the Quebec Abatement), 2025-26

Estimate

federal.other_fiscal_arrangements.fy2025-26

-$7,600,000,000 (-$7.6B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
-7600000000

Spring Economic Update 2026 estimate for a year that had just ended; the audited result comes in the Annual Financial Report 2025-26.

Other fiscal arrangements (mainly the Quebec Abatement), 2026-27

Forecast

federal.other_fiscal_arrangements.fy2026-27

-$8,200,000,000 (-$8.2B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
-8200000000

Spring Economic Update 2026 projection (the government's plan for the year).

Pollution pricing proceeds returned to Canadians, 2025-26

Estimate

federal.pollution_pricing_proceeds.fy2025-26

$4,900,000,000 ($4.9B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
4900000000

Spring Economic Update 2026 estimate for a year that had just ended; the audited result comes in the Annual Financial Report 2025-26.

Pollution pricing proceeds returned to Canadians, 2026-27

Forecast

federal.pollution_pricing_proceeds.fy2026-27

$200,000,000 ($200.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
200000000

Spring Economic Update 2026 projection (the government's plan for the year).

Other transfer payments (administered by departments), 2025-26

Estimate

federal.other_transfer_payments.fy2025-26

$113,700,000,000 ($113.7B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
113700000000

Spring Economic Update 2026 estimate for a year that had just ended; the audited result comes in the Annual Financial Report 2025-26.

Other transfer payments (administered by departments), 2026-27

Forecast

federal.other_transfer_payments.fy2026-27

$121,500,000,000 ($121.5B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
121500000000

Spring Economic Update 2026 projection (the government's plan for the year).

Other direct program expenses (operating costs of departments, agencies and Crown corporations), 2025-26

Estimate

federal.other_direct_program_expenses.fy2025-26

$141,100,000,000 ($141.1B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
141100000000

Spring Economic Update 2026 estimate for a year that had just ended; the audited result comes in the Annual Financial Report 2025-26.

Other direct program expenses (operating costs of departments, agencies and Crown corporations), 2026-27

Forecast

federal.other_direct_program_expenses.fy2026-27

$145,600,000,000 ($145.6B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
145600000000

Spring Economic Update 2026 projection (the government's plan for the year).

Federal direct program expenses, 2025-26

Estimate

federal.direct_program_expenses.fy2025-26

$254,700,000,000 ($254.7B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
254700000000

Spring Economic Update 2026 estimate for a year that had just ended; the audited result comes in the Annual Financial Report 2025-26.

Federal direct program expenses, 2026-27

Forecast

federal.direct_program_expenses.fy2026-27

$267,100,000,000 ($267.1B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
267100000000

Spring Economic Update 2026 projection (the government's plan for the year).

Federal personal income tax revenue, 2026-27

Forecast

federal.revenue.personal_income_tax.fy2026-27

$251,600,000,000 ($251.6B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
251600000000

Spring Economic Update 2026 projection (the government's plan for the year).

Federal corporate income tax revenue, 2026-27

Forecast

federal.revenue.corporate_income_tax.fy2026-27

$99,700,000,000 ($99.7B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
99700000000

Spring Economic Update 2026 projection (the government's plan for the year).

Federal Goods and Services Tax revenue, 2026-27

Forecast

federal.revenue.gst.fy2026-27

$53,400,000,000 ($53.4B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
53400000000

Spring Economic Update 2026 projection (the government's plan for the year).

Employment Insurance premium revenues, 2026-27

Forecast

federal.revenue.ei_premiums.fy2026-27

$33,900,000,000 ($33.9B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
33900000000

Spring Economic Update 2026 projection (the government's plan for the year).

Federal budgetary revenues, 2025-26 (preliminary)

Preliminary

federal.revenue_preliminary.fy2025-26

$500,017,000,000 ($500.0B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
500017000000

Preliminary and unaudited ("have not been audited or reviewed by an external auditor"), before year-end adjustments; the audited result comes in the Annual Financial Report 2025-26.

Federal total expenses, 2025-26 (preliminary)

Preliminary

federal.expenses_preliminary.fy2025-26

$555,294,000,000 ($555.3B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
555294000000

Preliminary and unaudited ("have not been audited or reviewed by an external auditor"), before year-end adjustments; the audited result comes in the Annual Financial Report 2025-26.

Federal budgetary balance, 2025-26 (preliminary)

Preliminary

federal.balance_preliminary.fy2025-26

-$55,277,000,000 (-$55.3B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
-55277000000

Preliminary and unaudited ("have not been audited or reviewed by an external auditor"), before year-end adjustments; the audited result comes in the Annual Financial Report 2025-26.

Federal public debt charges, 2025-26 (preliminary)

Preliminary

federal.pdc_preliminary.fy2025-26

$53,707,000,000 ($53.7B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
53707000000

Preliminary and unaudited ("have not been audited or reviewed by an external auditor"), before year-end adjustments; the audited result comes in the Annual Financial Report 2025-26.

Federal budgetary balance, 2024-25

Actual

federal.balance.fy2024-25

-$36,348,000,000 (-$36.3B)

Period
FY2024-25
Unit
Canadian dollars
Stored value
-36348000000

Federal public debt charges (interest on the debt), 2024-25

Actual

federal.pdc.fy2024-25

$53,410,000,000 ($53.4B)

Period
FY2024-25
Unit
Canadian dollars
Stored value
53410000000

Canada's defence spending under NATO's definition (core defence expenditure), 2024-25

Actual

federal.defence.nato_core.fy2024-25

$43,917,000,000 ($43.9B)

Period
FY2024-25
Unit
Canadian dollars
Stored value
43917000000

NATO counts spending by all departments that meets its definition (for example military pensions and some Coast Guard and security costs), not only National Defence.

  • North Atlantic Treaty Organization, Defence Investment of NATO Countries (2014-2026) (opens in a new tab)Table 1: Core defence expenditure, current prices, million national currency units, Canada (Canadian dollars), 2024 column (p. 5); p. 14 note: for Canada the year shown is the fiscal year that begins in itPublished July 7, 2026. Accessed September 28, 2026.

Canada's defence spending under NATO's definition (core defence expenditure), 2025-26

Estimate

federal.defence.nato_core.fy2025-26

$65,901,000,000 ($65.9B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
65901000000

NATO estimate. NATO counts spending by all departments that meets its definition, not only National Defence.

  • North Atlantic Treaty Organization, Defence Investment of NATO Countries (2014-2026) (opens in a new tab)Table 1: Core defence expenditure, current prices, million national currency units, Canada (Canadian dollars), 2025e column (p. 5); p. 14 note: for Canada the year shown is the fiscal year that begins in itPublished July 7, 2026. Accessed September 28, 2026.

Canada's defence spending under NATO's definition (core defence expenditure), 2026-27

Estimate

federal.defence.nato_core.fy2026-27

$71,517,000,000 ($71.5B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
71517000000

NATO estimate. NATO counts spending by all departments that meets its definition, not only National Defence.

  • North Atlantic Treaty Organization, Defence Investment of NATO Countries (2014-2026) (opens in a new tab)Table 1: Core defence expenditure, current prices, million national currency units, Canada (Canadian dollars), 2026e column (p. 5); p. 14 note: for Canada the year shown is the fiscal year that begins in itPublished July 7, 2026. Accessed September 28, 2026.

Department of National Defence, 2026-27 Main Estimates (budgetary)

Forecast

federal.defence.dnd_main_estimates.fy2026-27

$50,689,069,701 ($50.7B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
50689069701

Spending authorities requested in the Main Estimates, not actual spending.

Department of National Defence, 2026-27 spending authorities to date (Main Estimates plus Supplementary Estimates (A))

Forecast

federal.defence.dnd_estimates.fy2026-27

$51,885,428,632 ($51.9B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
51885428632

Spending authorities, not actual spending. Later Supplementary Estimates can add to them.

Department of National Defence expenses, 2024-25

Actual

federal.defence.dnd_expenses.fy2024-25

$36,026,000,000 ($36.0B)

Period
FY2024-25
Unit
Canadian dollars
Stored value
36026000000

Indigenous Services Canada, 2026-27 spending authorities to date

Forecast

federal.isc.estimates.fy2026-27

$24,994,175,306 ($25.0B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
24994175306

Main Estimates plus Supplementary Estimates (A); authorities, not actual spending.

Crown-Indigenous Relations and Northern Affairs Canada, 2026-27 spending authorities to date

Forecast

federal.cirnac.estimates.fy2026-27

$14,976,271,585 ($15.0B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
14976271585

Main Estimates plus Supplementary Estimates (A); authorities, not actual spending. Includes settlement of claims.

Indigenous Services Canada expenses, 2024-25

Actual

federal.isc.expenses.fy2024-25

$26,737,000,000 ($26.7B)

Period
FY2024-25
Unit
Canadian dollars
Stored value
26737000000

Crown-Indigenous Relations and Northern Affairs Canada expenses, 2024-25

Actual

federal.cirnac.expenses.fy2024-25

$12,612,000,000 ($12.6B)

Period
FY2024-25
Unit
Canadian dollars
Stored value
12612000000

Federal personnel expenses, excluding net actuarial losses, 2024-25

Actual

federal.personnel.fy2024-25

$76,283,000,000 ($76.3B)

Period
FY2024-25
Unit
Canadian dollars
Stored value
76283000000

Audited accrual expenses. The Parliamentary Budget Officer's earlier estimate for the same year (RP-2526-008-S, August 2025) was lower.

What taxpayers spent fixing Phoenix pay-system errors, as of June 2025 (senior PSPC official's estimate)

Estimate

federal.phoenix.cost_to_fix.2025

$5,100,000,000 ($5.1B)

Period
2025
Unit
Canadian dollars
Stored value
5100000000

Reporting: The Canadian Press, quoting a senior Public Services and Procurement Canada official. An official's estimate, not a total from a published government report.

Federal public service employees (core public administration and separate agencies)

Actual

federal.public_service.headcount.2026-03-31

345,282

Period
2026-03-31
Unit
Persons
Stored value
345282

Excludes Canadian Armed Forces members, RCMP regular and civilian members, ministers' exempt staff, employees on leave without pay and locally engaged staff outside Canada.

Federal interest on the debt per second, 2026-27

DerivedForecast

federal.pdc.per_second.fy2026-27

$1,861

Period
FY2026-27
Unit
Canadian dollars per second
Stored value
1861.36478944698

Formula: public debt charges for 2026-27 ÷ 31,536,000 seconds

Inputs

Federal interest on the debt per day, 2026-27

DerivedForecast

federal.pdc.per_day.fy2026-27

$160,821,918 ($160.8M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
160821917.808219

Formula: public debt charges for 2026-27 ÷ 365 days

Inputs

Federal transfer payments, all types, 2026-27

DerivedForecast

federal.transfer_payments.fy2026-27

$390,600,000,000 ($390.6B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
390600000000

Formula: major transfers to persons + major transfers to provinces, territories and municipalities + pollution pricing proceeds returned + other transfer payments

Inputs

Federal transfer payments, all types, 2025-26

DerivedEstimate

federal.transfer_payments.fy2025-26

$371,600,000,000 ($371.6B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
371600000000

Formula: major transfers to persons + major transfers to provinces, territories and municipalities + pollution pricing proceeds returned + other transfer payments

Inputs

Transfer payments as a share of federal expenses, 2026-27

DerivedForecast

federal.expense_share.transfer_payments.fy2026-27

65.6%

Period
FY2026-27
Unit
Ratio, shown as a percentage
Stored value
0.656470588235294

Formula: transfer payments ÷ total expenses

Inputs

Operating costs of federal departments as a share of federal expenses, 2026-27

DerivedForecast

federal.expense_share.operating.fy2026-27

24.5%

Period
FY2026-27
Unit
Ratio, shown as a percentage
Stored value
0.244705882352941

Formula: other direct program expenses (operating costs) ÷ total expenses

Inputs

Interest on the debt as a share of federal expenses, 2026-27

DerivedForecast

federal.expense_share.pdc.fy2026-27

9.9%

Period
FY2026-27
Unit
Ratio, shown as a percentage
Stored value
0.0986554621848739

Formula: public debt charges ÷ total expenses

Inputs

Net actuarial losses as a share of federal expenses, 2026-27

DerivedForecast

federal.expense_share.net_actuarial_losses.fy2026-27

0.0%

Period
FY2026-27
Unit
Ratio, shown as a percentage
Stored value
0.000168067226890756

Formula: net actuarial losses ÷ total expenses

Inputs

Share of federal expenses paid for with borrowing (the deficit), 2026-27

DerivedForecast

federal.deficit_share_of_expenses.fy2026-27

11.0%

Period
FY2026-27
Unit
Ratio, shown as a percentage
Stored value
0.109747899159664

Formula: −budgetary balance ÷ total expenses

Inputs

Indigenous Services Canada and Crown-Indigenous Relations and Northern Affairs Canada, 2026-27 spending authorities to date

DerivedForecast

federal.isc_cirnac.estimates.fy2026-27

$39,970,446,891 ($40.0B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
39970446891

Formula: Indigenous Services Canada + Crown-Indigenous Relations and Northern Affairs Canada spending authorities to date

Inputs

Indigenous Services Canada and Crown-Indigenous Relations and Northern Affairs Canada expenses, 2024-25

DerivedActual

federal.isc_cirnac.expenses.fy2024-25

$39,349,000,000 ($39.3B)

Period
FY2024-25
Unit
Canadian dollars
Stored value
39349000000

Formula: Indigenous Services Canada expenses + Crown-Indigenous Relations and Northern Affairs Canada expenses

Inputs

Indigenous Services and Crown-Indigenous Relations spending authorities per registered First Nations person, 2026-27

DerivedForecast

federal.isc_cirnac.per_registered_person.fy2026-27

$35,806

Period
FY2026-27
Unit
Canadian dollars
Stored value
35805.5458031747

Formula: 2026-27 spending authorities of both departments ÷ population registered under the Indian Act (December 31, 2024)

Inputs

An upper bound: both departments also serve Inuit, Métis and northern residents and pay settlements of historical claims, so this overstates spending per registered person.

Canadians per federal public service employee, March 31, 2026

DerivedEstimate

federal.public_service.canadians_per_employee.2026-03-31

120.8

Period
2026-04-01
Unit
Persons
Stored value
120.823164833383

Formula: population of Canada on April 1, 2026 ÷ federal public service employees on March 31, 2026

Inputs

The public service count excludes Canadian Armed Forces and RCMP members.

Forecasts and outcomes

Federal budgetary balance for 2023-24, as projected in each document (negative = deficit)

SeriesActualEstimateForecast

forecasts.balance_projections.fy2023-24

Latest: -$61,900,000,000 (-$61.9B) (2024-12-17)

Period
2023-24, by date published
Unit
Canadian dollars
Federal budgetary balance for 2023-24, as projected in each document (negative = deficit), by period
PeriodValueStatusSource
2019-03-19-$9.8BForecastDepartment of Finance Canada, Budget 2019: Investing in the Middle Class, Annex 1, Table A1.2, row "Final budgetary balance (with risk adjustment)", 2023–2024 column
2021-04-19-$51.0BForecastDepartment of Finance Canada, Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience, Annex 1, Table A1.4 (Summary Statement of Transactions), row "Budgetary balance", 2023–2024 column
2022-04-07-$39.9BForecastDepartment of Finance Canada, Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable, Annex 1, Table A1.4 (Summary Statement of Transactions), row "Budgetary balance", 2023–2024 column
2023-03-28-$40.1BForecastDepartment of Finance Canada, Budget 2023: A Made-in-Canada Plan, Annex 1, Table A1.5 (Summary Statement of Transactions), row "Budgetary balance", 2023–2024 column
2023-11-21-$40.0BForecastDepartment of Finance Canada, 2023 Fall Economic Statement, Annex 1, Table A1.4 (Summary Statement of Transactions), row "2023 Fall Economic Statement budgetary balance", 2023–2024 column
2024-04-16-$40.0BEstimateDepartment of Finance Canada, Budget 2024: Fairness for Every Generation, Annex 1, Table A1.5 (Summary Statement of Transactions), row "Budget 2024 budgetary balance", 2023–2024 column
2024-12-17-$61.9BActualDepartment of Finance Canada, Annual Financial Report of the Government of Canada, Fiscal Year 2023–2024, Table 2, Financial Highlights, row "Budgetary balance", 2023-24 column (audited result as first reported)

Each point is the balance one document gave for this fiscal year; its period is the date that document was published. The last point is the audited result, the preliminary result or the PBO's independent projection, as labelled.

Federal budgetary balance for 2024-25, as projected in each document (negative = deficit)

SeriesActualForecast

forecasts.balance_projections.fy2024-25

Latest: -$36,300,000,000 (-$36.3B) (2025-11-07)

Period
2024-25, by date published
Unit
Canadian dollars
Federal budgetary balance for 2024-25, as projected in each document (negative = deficit), by period
PeriodValueStatusSource
2019-12-16-$11.6BForecastDepartment of Finance Canada, Economic and Fiscal Update 2019, Annex 1, Table A1.4, row "Final budgetary balance", 2024–2025 column
2021-04-19-$35.8BForecastDepartment of Finance Canada, Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience, Annex 1, Table A1.4 (Summary Statement of Transactions), row "Budgetary balance", 2024–2025 column
2022-04-07-$27.8BForecastDepartment of Finance Canada, Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable, Annex 1, Table A1.4 (Summary Statement of Transactions), row "Budgetary balance", 2024–2025 column
2023-03-28-$35.0BForecastDepartment of Finance Canada, Budget 2023: A Made-in-Canada Plan, Annex 1, Table A1.5 (Summary Statement of Transactions), row "Budgetary balance", 2024–2025 column
2023-11-21-$38.4BForecastDepartment of Finance Canada, 2023 Fall Economic Statement, Annex 1, Table A1.4 (Summary Statement of Transactions), row "2023 Fall Economic Statement budgetary balance", 2024–2025 column
2024-04-16-$39.8BForecastDepartment of Finance Canada, Budget 2024: Fairness for Every Generation, Annex 1, Table A1.5 (Summary Statement of Transactions), row "Budget 2024 budgetary balance", 2024–2025 column
2024-12-16-$48.3BForecastDepartment of Finance Canada, 2024 Fall Economic Statement, Annex 1, Table A1.6 (Summary Statement of Transactions), row "2024 Fall Economic Statement budgetary balance", 2024–2025 column
2025-11-07-$36.3BActualDepartment of Finance Canada, Annual Financial Report of the Government of Canada, Fiscal Year 2024–2025, Table 2, Financial Highlights, row "Budgetary balance", 2024-25 column (audited result as first reported)

Each point is the balance one document gave for this fiscal year; its period is the date that document was published. The last point is the audited result, the preliminary result or the PBO's independent projection, as labelled.

Federal budgetary balance for 2025-26, as projected in each document (negative = deficit)

SeriesPreliminaryEstimateForecast

forecasts.balance_projections.fy2025-26

Latest: -$55,277,000,000 (-$55.3B) (2026-05-29)

Period
2025-26, by date published
Unit
Canadian dollars
Federal budgetary balance for 2025-26, as projected in each document (negative = deficit), by period
PeriodValueStatusSourceNote
2021-04-19-$30.7BForecastDepartment of Finance Canada, Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience, Annex 1, Table A1.4 (Summary Statement of Transactions), row "Budgetary balance", 2025–2026 column
2022-04-07-$18.6BForecastDepartment of Finance Canada, Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable, Annex 1, Table A1.4 (Summary Statement of Transactions), row "Budgetary balance", 2025–2026 column
2023-03-28-$26.8BForecastDepartment of Finance Canada, Budget 2023: A Made-in-Canada Plan, Annex 1, Table A1.5 (Summary Statement of Transactions), row "Budgetary balance", 2025–2026 column
2023-11-21-$38.3BForecastDepartment of Finance Canada, 2023 Fall Economic Statement, Annex 1, Table A1.4 (Summary Statement of Transactions), row "2023 Fall Economic Statement budgetary balance", 2025–2026 column
2024-04-16-$38.9BForecastDepartment of Finance Canada, Budget 2024: Fairness for Every Generation, Annex 1, Table A1.5 (Summary Statement of Transactions), row "Budget 2024 budgetary balance", 2025–2026 column
2024-12-16-$42.2BForecastDepartment of Finance Canada, 2024 Fall Economic Statement, Annex 1, Table A1.6 (Summary Statement of Transactions), row "2024 Fall Economic Statement budgetary balance", 2025–2026 column
2025-11-04-$78.3BForecastDepartment of Finance Canada, Budget 2025: Canada Strong, Annex 1, Table A1.7 (Summary Statement of Transactions), row "Budget 2025 budgetary balance", 2025–2026 column
2026-04-28-$66.9BEstimateDepartment of Finance Canada, Spring Economic Update 2026, Annex 1, Table A1.7 (Summary Statement of Transactions), row "Spring Update 2026 budgetary balance", 2025–2026 column
2026-05-29-$55.3BPreliminaryDepartment of Finance Canada, The Fiscal Monitor, March 2026, Table 1, Summary statement of transactions, row "Budgetary balance (deficit/surplus)", April to March 2025-26 columnUnaudited result before year-end adjustments. The audited figure comes with the Public Accounts and Annual Financial Report 2025-26.

Each point is the balance one document gave for this fiscal year; its period is the date that document was published. The last point is the audited result, the preliminary result or the PBO's independent projection, as labelled.

Federal budgetary balance for 2026-27, as projected in each document (negative = deficit)

SeriesForecast

forecasts.balance_projections.fy2026-27

Latest: -$71,800,000,000 (-$71.8B) (2026-06-04)

Period
2026-27, by date published
Unit
Canadian dollars
Federal budgetary balance for 2026-27, as projected in each document (negative = deficit), by period
PeriodValueSourceNote
2022-04-07-$8.4BDepartment of Finance Canada, Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable, Annex 1, Table A1.4 (Summary Statement of Transactions), row "Budgetary balance", 2026–2027 column
2023-03-28-$15.8BDepartment of Finance Canada, Budget 2023: A Made-in-Canada Plan, Annex 1, Table A1.5 (Summary Statement of Transactions), row "Budgetary balance", 2026–2027 column
2023-11-21-$27.1BDepartment of Finance Canada, 2023 Fall Economic Statement, Annex 1, Table A1.4 (Summary Statement of Transactions), row "2023 Fall Economic Statement budgetary balance", 2026–2027 column
2024-04-16-$30.8BDepartment of Finance Canada, Budget 2024: Fairness for Every Generation, Annex 1, Table A1.5 (Summary Statement of Transactions), row "Budget 2024 budgetary balance", 2026–2027 column
2024-12-16-$31.0BDepartment of Finance Canada, 2024 Fall Economic Statement, Annex 1, Table A1.6 (Summary Statement of Transactions), row "2024 Fall Economic Statement budgetary balance", 2026–2027 column
2025-11-04-$65.4BDepartment of Finance Canada, Budget 2025: Canada Strong, Annex 1, Table A1.7 (Summary Statement of Transactions), row "Budget 2025 budgetary balance", 2026–2027 column
2026-04-28-$65.3BDepartment of Finance Canada, Spring Economic Update 2026, Annex 1, Table A1.7 (Summary Statement of Transactions), row "Spring Update 2026 budgetary balance", 2026–2027 column
2026-06-04-$71.8BOffice of the Parliamentary Budget Officer, Economic and Fiscal Outlook – June 2026, Table 2, Summary of the fiscal outlook (printed page 8), row "Budgetary balance", 2026-27 columnIndependent projection by the Parliamentary Budget Officer under current policy, not a government plan.

Each point is the balance one document gave for this fiscal year; its period is the date that document was published. The last point is the audited result, the preliminary result or the PBO's independent projection, as labelled.

Federal budgetary balance for 2027-28, as projected in each document (negative = deficit)

SeriesForecast

forecasts.balance_projections.fy2027-28

Latest: -$68,000,000,000 (-$68.0B) (2026-06-04)

Period
2027-28, by date published
Unit
Canadian dollars
Federal budgetary balance for 2027-28, as projected in each document (negative = deficit), by period
PeriodValueSourceNote
2023-03-28-$14.0BDepartment of Finance Canada, Budget 2023: A Made-in-Canada Plan, Annex 1, Table A1.5 (Summary Statement of Transactions), row "Budgetary balance", 2027–2028 column
2023-11-21-$23.8BDepartment of Finance Canada, 2023 Fall Economic Statement, Annex 1, Table A1.4 (Summary Statement of Transactions), row "2023 Fall Economic Statement budgetary balance", 2027–2028 column
2024-04-16-$26.8BDepartment of Finance Canada, Budget 2024: Fairness for Every Generation, Annex 1, Table A1.5 (Summary Statement of Transactions), row "Budget 2024 budgetary balance", 2027–2028 column
2024-12-16-$30.4BDepartment of Finance Canada, 2024 Fall Economic Statement, Annex 1, Table A1.6 (Summary Statement of Transactions), row "2024 Fall Economic Statement budgetary balance", 2027–2028 column
2025-11-04-$63.5BDepartment of Finance Canada, Budget 2025: Canada Strong, Annex 1, Table A1.7 (Summary Statement of Transactions), row "Budget 2025 budgetary balance", 2027–2028 column
2026-04-28-$63.1BDepartment of Finance Canada, Spring Economic Update 2026, Annex 1, Table A1.7 (Summary Statement of Transactions), row "Spring Update 2026 budgetary balance", 2027–2028 column
2026-06-04-$68.0BOffice of the Parliamentary Budget Officer, Economic and Fiscal Outlook – June 2026, Table 2, Summary of the fiscal outlook (printed page 8), row "Budgetary balance", 2027-28 columnIndependent projection by the Parliamentary Budget Officer under current policy, not a government plan.

Each point is the balance one document gave for this fiscal year; its period is the date that document was published. The last point is the audited result, the preliminary result or the PBO's independent projection, as labelled.

Federal debt-to-GDP ratio projected for 2027-28 in Budget 2025 (its peak)

Forecast

forecasts.federal_debt_to_gdp_budget2025.fy2027-28

43.3%

Period
FY2027-28
Unit
Ratio, shown as a percentage
Stored value
0.433

Budget 2025 projected the ratio rising from 41.2% in 2024-25 to 43.3% in 2027-28 and 2028-29.

Federal budgetary balance as a share of GDP, 2026-27, Spring Economic Update 2026 (negative = deficit)

Forecast

forecasts.budgetary_balance_to_gdp_seu2026.fy2026-27

-1.9%

Period
FY2026-27
Unit
Ratio, shown as a percentage
Stored value
-0.019

Federal day-to-day operating balance projected for 2028-29, Spring Economic Update 2026

Forecast

forecasts.operating_balance_seu2026.fy2028-29

$900,000,000 ($900.0M)

Period
FY2028-29
Unit
Canadian dollars
Stored value
900000000

The overall budget is still projected in deficit that year; the operating balance leaves out spending the government classifies as capital investment.

Ten provinces combined, budget balance as a share of GDP (negative = deficit)

SeriesEstimateForecast

forecasts.provincial_balance_to_gdp.all_provinces

Latest: -0.3% (FY2028-29)

Period
FY2025-26 to FY2028-29
Unit
Ratio, shown as a percentage
Ten provinces combined, budget balance as a share of GDP (negative = deficit), by period
PeriodValueStatus
FY2025-26-1.1%Estimate
FY2026-27-1.1%Forecast
FY2027-28-0.6%Forecast
FY2028-29-0.3%Forecast

Analysis by RBC Economics of the provinces' 2026 budgets, with reserves and contingencies removed so provinces are comparable. Not an official combined figure.

Federal and provincial governments combined, projected budget balance as a share of GDP, 2025-26 (negative = deficit)

Forecast

forecasts.combined_balance_to_gdp_rbc.fy2025-26

-3.5%

Period
FY2025-26
Unit
Ratio, shown as a percentage
Stored value
-0.035

Analysis by RBC Economics based on fall 2025 federal and provincial projections, before the Spring Economic Update 2026 lowered the federal 2025-26 forecast.

Budget 2016 pledge: return to balanced budgets

Actual

forecasts.anchor.budget-2016-balanced-budgets

“The Government remains committed to returning to balanced budgets, and will do so in a responsible, realistic and transparent way.”
Period
2016-03-22
Unit
Verbatim text

The same budget announced the repeal of the Federal Balanced Budget Act. The federal budget was in deficit every year from 2015-16 to 2024-25 (Fiscal Reference Tables 2025, Table 1).

Budget 2016 fiscal anchor: lower federal debt-to-GDP ratio by 2020-21

Actual

forecasts.anchor.budget-2016-debt-ratio

“the Government is committed to reducing the federal debt-to-GDP ratio to a lower level over a five-year period, ending in 2020–21.”
Period
2016-03-22
Unit
Verbatim text

The ratio was 31.9% in 2015-16 and 47.2% in 2020-21, the first pandemic year (Fiscal Reference Tables 2025, Table 2).

Budget 2021 fiscal anchor: reduce federal debt as a share of the economy

Actual

forecasts.anchor.budget-2021-debt-share

“The government is committed to unwinding COVID-related deficits and reducing the federal debt as a share of the economy over the medium-term.”
Period
2021-04-19
Unit
Verbatim text

2023 Fall Economic Statement objective: cap the 2023-24 deficit

Actual

forecasts.anchor.fes-2023-deficit-cap

“Maintaining the 2023-24 deficit at or below the Budget 2023 projection of $40.1 billion.”
Period
2023-11-21
Unit
Verbatim text
  • Department of Finance Canada, 2023 Fall Economic Statement (opens in a new tab)Economic and Fiscal Overview, section 3 "Fiscal Outlook", "Canada's Responsible Economic Plan", first of three fiscal objectivesPublished November 21, 2023. Accessed September 28, 2026.

2023 Fall Economic Statement objective: deficits below 1% of GDP from 2026-27

Actual

forecasts.anchor.fes-2023-one-percent

“Maintaining a declining deficit-to-GDP ratio in 2024-25 and keeping deficits below 1 per cent of GDP in 2026-27 and future years.”
Period
2023-11-21
Unit
Verbatim text

The 2024 Fall Economic Statement still showed 0.9% for 2026-27; Budget 2025 projected 2.0% and the Spring Economic Update 2026 1.9%.

  • Department of Finance Canada, 2023 Fall Economic Statement (opens in a new tab)Economic and Fiscal Overview, section 3 "Fiscal Outlook", "Canada's Responsible Economic Plan", third of three fiscal objectivesPublished November 21, 2023. Accessed September 28, 2026.

Budget 2025 fiscal anchor: balance day-to-day operating spending by 2028-29

Actual

forecasts.anchor.budget-2025-operating-balance

“Balance operating spending with revenues by 2028-29, shifting the composition of spending from day-to-day operations to investments that support capital formation and productivity.”
Period
2025-11-04
Unit
Verbatim text

The second anchor is to maintain a declining deficit-to-GDP ratio. Neither can be tested until 2028-29 results are published.

Interim Parliamentary Budget Officer Jason Jacques on the federal debt path

Actual

forecasts.pbo_warning.unsustainable-2025-09-25

“Certainly we don't want to be alarmist; at the same time, the current path we're on in terms of federal debt as a share of the economy is unsustainable.”
Period
2025-09-25
Unit
Verbatim text

Said the day the PBO released its September 2025 Economic and Fiscal Outlook, about the federal debt-to-GDP ratio rising over the outlook. The PBO's later long-term analyses (Budget 2025 note, December 17, 2025; Spring Economic Update note, May 4, 2026) judged federal policy sustainable over the long term.

Interim Parliamentary Budget Officer Jason Jacques on the word “unsustainable”

Actual

forecasts.pbo_warning.dont-lightly-use-2025-09-25

“We don't lightly use the word “unsustainable”.”
Period
2025-09-25
Unit
Verbatim text

Said the day the PBO released its September 2025 Economic and Fiscal Outlook, about the federal debt-to-GDP ratio rising over the outlook. The PBO's later long-term analyses (Budget 2025 note, December 17, 2025; Spring Economic Update note, May 4, 2026) judged federal policy sustainable over the long term.

Interim Parliamentary Budget Officer Jason Jacques on the rising federal debt-to-GDP ratio

Actual

forecasts.pbo_warning.not-sustainable-2025-09-25

“Certainly on our end we're hoping and certainly expecting the government, as part of budget 2025, to clearly indicate what the government plans to do to address this problem, because it's certainly not sustainable.”
Period
2025-09-25
Unit
Verbatim text

Said the day the PBO released its September 2025 Economic and Fiscal Outlook, about the federal debt-to-GDP ratio rising over the outlook. The PBO's later long-term analyses (Budget 2025 note, December 17, 2025; Spring Economic Update note, May 4, 2026) judged federal policy sustainable over the long term.

Change in the federal deficit, 2022-23 to 2023-24

DerivedActual

forecasts.balance_change.fy2023-24

75.2%

Period
FY2023-24
Unit
Ratio, shown as a percentage
Stored value
0.751769435479305

Formula: deficit 2023-24 ÷ deficit 2022-23 − 1

Inputs

Change in the federal deficit, 2023-24 to 2024-25

DerivedActual

forecasts.balance_change.fy2024-25

-41.3%

Period
FY2024-25
Unit
Ratio, shown as a percentage
Stored value
-0.412567069623117

Formula: deficit 2024-25 ÷ deficit 2023-24 − 1

Inputs

Change in the federal deficit, 2023-24 to 2024-25, as projected in December 2024

DerivedForecast

forecasts.balance_change_fes2024.fy2024-25

-21.9%

Period
FY2024-25
Unit
Ratio, shown as a percentage
Stored value
-0.219406555045575

Formula: deficit projected for 2024-25 in the 2024 Fall Economic Statement ÷ deficit 2023-24 − 1

Inputs

  • Department of Finance Canada, Fiscal Reference Tables 2025 (opens in a new tab)Part 1, Table 1, Fiscal transactions (millions of dollars), column "Budgetary surplus or deficit (–)"Published November 7, 2025. Accessed September 28, 2026.
  • Department of Finance Canada, 2024 Fall Economic Statement (opens in a new tab)Annex 1, Table A1.6 (Summary Statement of Transactions), row "2024 Fall Economic Statement budgetary balance", 2024–2025 columnPublished December 16, 2024. Accessed September 28, 2026.

Change in the federal deficit, 2024-25 to 2025-26, Spring Economic Update 2026

DerivedEstimate

forecasts.balance_change_seu2026.fy2025-26

84.1%

Period
FY2025-26
Unit
Ratio, shown as a percentage
Stored value
0.840541432816111

Formula: deficit 2025-26 in the Spring Economic Update 2026 ÷ deficit 2024-25 − 1

Inputs

  • Department of Finance Canada, Fiscal Reference Tables 2025 (opens in a new tab)Part 1, Table 1, Fiscal transactions (millions of dollars), column "Budgetary surplus or deficit (–)"Published November 7, 2025. Accessed September 28, 2026.
  • Department of Finance Canada, Spring Economic Update 2026 (opens in a new tab)Annex 1, Table A1.7 (Summary Statement of Transactions), row "Spring Update 2026 budgetary balance", 2025–2026 columnPublished April 28, 2026. Accessed September 28, 2026.

Change in the federal deficit, 2024-25 to 2025-26, preliminary results

DerivedPreliminary

forecasts.balance_change_prelim.fy2025-26

52.1%

Period
FY2025-26
Unit
Ratio, shown as a percentage
Stored value
0.520771431715638

Formula: preliminary deficit 2025-26 ÷ deficit 2024-25 − 1

Inputs

Federal deficit growth, compound annual average, 2022-23 to 2025-26, preliminary results

DerivedPreliminary

forecasts.deficit_growth_avg_prelim.fy2022-23-to-fy2025-26

16.1%

Period
FY2022-23 to FY2025-26
Unit
Ratio, shown as a percentage
Stored value
0.161002245140193

Formula: (preliminary deficit 2025-26 ÷ deficit 2022-23) ^ (1/3) − 1

Inputs

Federal deficit growth, compound annual average, 2022-23 to 2025-26, Spring Economic Update 2026

DerivedEstimate

forecasts.deficit_growth_avg_seu2026.fy2022-23-to-fy2025-26

23.7%

Period
FY2022-23 to FY2025-26
Unit
Ratio, shown as a percentage
Stored value
0.237258018771261

Formula: (deficit 2025-26 in the Spring Economic Update 2026 ÷ deficit 2022-23) ^ (1/3) − 1

Inputs

  • Department of Finance Canada, Fiscal Reference Tables 2025 (opens in a new tab)Part 1, Table 1, Fiscal transactions (millions of dollars), column "Budgetary surplus or deficit (–)"Published November 7, 2025. Accessed September 28, 2026.
  • Department of Finance Canada, Spring Economic Update 2026 (opens in a new tab)Annex 1, Table A1.7 (Summary Statement of Transactions), row "Spring Update 2026 budgetary balance", 2025–2026 columnPublished April 28, 2026. Accessed September 28, 2026.

Growth in the projected 2026-27 federal deficit, Budget 2022 to Spring Economic Update 2026 (times)

DerivedForecast

forecasts.projection_multiple.fy2026-27

777.4%

Period
FY2026-27
Unit
Ratio, shown as a percentage
Stored value
7.77380952380952

Formula: deficit for 2026-27 in the Spring Economic Update 2026 ÷ deficit for 2026-27 in Budget 2022

Inputs

Ten provinces combined, approximate budget balance in dollars, 2025-26 (negative = deficit)

DerivedEstimate

forecasts.provincial_deficit_dollars.fy2025-26

-$35,697,827,000 (-$35.7B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
-35697827000

Formula: RBC's combined provincial balance as a share of GDP × nominal GDP, 2025 (approximate)

Inputs

Approximate: applies the fiscal-year share of GDP to calendar-year 2025 GDP.

Population

Population of Canada, July 1, 2026

Preliminary

population.canada.2026-07-01

41,798,407

Period
2026-07-01
Unit
Persons
Stored value
41798407

Preliminary postcensal estimate. Statistics Canada revised its population estimates back to July 2021 on September 23, 2026 (new method for non-permanent residents).

Population of Alberta, July 1, 2026

Preliminary

population.alberta.2026-07-01

5,101,050

Period
2026-07-01
Unit
Persons
Stored value
5101050

Preliminary postcensal estimate. Statistics Canada revised its population estimates back to July 2021 on September 23, 2026 (new method for non-permanent residents).

Population of Canada, April 1, 2026

Estimate

population.canada.2026-04-01

41,718,064

Period
2026-04-01
Unit
Persons
Stored value
41718064

Statistics Canada revised its population estimates back to July 2021 on September 23, 2026 (new method for non-permanent residents).

Population of Alberta, April 1, 2026

Estimate

population.alberta.2026-04-01

5,079,176

Period
2026-04-01
Unit
Persons
Stored value
5079176

Statistics Canada revised its population estimates back to July 2021 on September 23, 2026 (new method for non-permanent residents).

Population of Canada, July 1, 2025

Estimate

population.canada.2025-07-01

41,608,982

Period
2025-07-01
Unit
Persons
Stored value
41608982

Statistics Canada revised its population estimates back to July 2021 on September 23, 2026 (new method for non-permanent residents).

Population of Alberta, July 1, 2025

Estimate

population.alberta.2025-07-01

5,024,631

Period
2025-07-01
Unit
Persons
Stored value
5024631

Statistics Canada revised its population estimates back to July 2021 on September 23, 2026 (new method for non-permanent residents).

Population of Canada, April 1, 2025

Estimate

population.canada.2025-04-01

41,495,432

Period
2025-04-01
Unit
Persons
Stored value
41495432

Statistics Canada revised its population estimates back to July 2021 on September 23, 2026 (new method for non-permanent residents).

Population of Canada, July 1, 2024

Estimate

population.canada.2024-07-01

41,162,593

Period
2024-07-01
Unit
Persons
Stored value
41162593

Statistics Canada revised its population estimates back to July 2021 on September 23, 2026 (new method for non-permanent residents).

Population of Alberta, July 1, 2024

Estimate

population.alberta.2024-07-01

4,901,795

Period
2024-07-01
Unit
Persons
Stored value
4901795

Statistics Canada revised its population estimates back to July 2021 on September 23, 2026 (new method for non-permanent residents).

Individual income tax returns filed, Canada, 2024 tax year

Actual

population.canada.tax_returns.2024

31,564,157

Period
2024
Unit
Count
Stored value
31564157

All returns, taxable and non-taxable. Canada also includes returns from non-residents.

Taxable individual income tax returns (returns with tax payable), Canada, 2024 tax year

Actual

population.canada.taxable_returns.2024

22,569,834

Period
2024
Unit
Count
Stored value
22569834

Returns with income tax payable.

Individual income tax returns filed, Alberta, 2024 tax year

Actual

population.alberta.tax_returns.2024

3,613,751

Period
2024
Unit
Count
Stored value
3613751

All returns, taxable and non-taxable. Canada also includes returns from non-residents.

Taxable individual income tax returns (returns with tax payable), Alberta, 2024 tax year

Actual

population.alberta.taxable_returns.2024

2,571,814

Period
2024
Unit
Count
Stored value
2571814

Returns with income tax payable.

Population registered under the Indian Act, Canada, December 31, 2024

Actual

population.registered_indian.2024-12-31

1,116,320

Period
2024-12-31
Unit
Persons
Stored value
1116320

Administrative count from the Indian Register. Indigenous Services Canada and Crown-Indigenous Relations also serve Inuit, Metis and northern residents, so federal spending divided by this count is not spending per registered person.

Alberta's share of Canada's population, July 1, 2026

DerivedPreliminary

population.alberta.share_of_canada.2026-07-01

12.2%

Period
2026-07-01
Unit
Ratio, shown as a percentage
Stored value
0.122039339920299

Formula: population of Alberta ÷ population of Canada

Inputs

Referendum

Alberta referendum voting day

Actual

referendum.date.2026

October 19, 2026

Period
2026
Unit
Date

Elections Alberta lists three Orders in Council for the referendum: O.C. 109/2026 and O.C. 110/2026 (approved March 31, 2026) and O.C. 160/2026 (approved May 28, 2026). The published date is the page's last modification.

  • Elections Alberta, Referendum (opens in a new tab)Page heading "A referendum has been set for October 19, 2026."Published September 6, 2026. Accessed September 28, 2026.

Question 10 (separation), ballot question

Actual

referendum.q10.question.2026

“Should Alberta remain a province of Canada, or should the Government of Alberta commence the legal process required under the Canadian Constitution to hold a binding provincial referendum on whether or not Alberta should separate from Canada?”
Period
2026
Unit
Verbatim text

Provided by the Government of Alberta and set out in O.C. 160/2026, which orders that the result on this question is not binding. Question 10 is a choice question: electors select one of two options. Elections Alberta states that it may not interpret the questions.

  • Elections Alberta, Referendum (opens in a new tab)Section "Questions on the Ballots", question 10, set out in O.C. 160/2026Published September 6, 2026. Accessed September 28, 2026.

Question 10 (separation), Option 1

Actual

referendum.q10.option_1.2026

“Alberta should remain a province of Canada.”
Period
2026
Unit
Verbatim text
  • Elections Alberta, Referendum (opens in a new tab)Section "Questions on the Ballots", question 10, "Option 1"Published September 6, 2026. Accessed September 28, 2026.

Question 10 (separation), Option 2

Actual

referendum.q10.option_2.2026

“The Government of Alberta should commence the legal process required under the Canadian Constitution to hold a binding provincial referendum on whether or not Alberta should separate from Canada.”
Period
2026
Unit
Verbatim text
  • Elections Alberta, Referendum (opens in a new tab)Section "Questions on the Ballots", question 10, "Option 2"Published September 6, 2026. Accessed September 28, 2026.

Time series

Canada, total government gross debt as a share of GDP (all levels of government)

SeriesActualEstimateForecast

series.debt_to_gdp.canada

Latest: 103.5% (2031)

Period
2015 to 2031
Unit
Ratio, shown as a percentage
Canada, total government gross debt as a share of GDP (all levels of government), by period
PeriodValueStatus
201592.3%Actual
201692.5%Actual
201791.0%Actual
201890.8%Actual
201990.1%Actual
2020118.1%Actual
2021112.6%Actual
2022103.5%Actual
2023105.1%Actual
2024110.0%Actual
2025113.5%Estimate
2026110.7%Forecast
2027109.5%Forecast
2028108.1%Forecast
2029106.7%Forecast
2030105.2%Forecast
2031103.5%Forecast

General government covers the federal, provincial-territorial and local governments and the Canada and Quebec Pension Plans; gross debt includes government employee pension liabilities. 2015 to 2024 are historical data, 2025 is an IMF staff estimate and 2026 to 2031 are IMF projections.

drained.ca stress scenario: total government gross debt as a share of GDP

Seriesdrained.ca scenario

series.debt_to_gdp.drained_scenario

Latest: 150.0% (2035)

Period
2027 to 2035
Unit
Ratio, shown as a percentage
drained.ca stress scenario: total government gross debt as a share of GDP, by period
PeriodValue
2027122.0%
2030133.0%
2033143.0%
2035150.0%

Our own stress projection, not an official forecast. It starts from the IMF's 2025 estimate and assumes government deficits grow 15% to 20% a year while nominal GDP grows only 2% to 3% a year, a recession or trade-war case. The IMF projects a decline over the same years.

drained.ca stress scenario: annual growth in government deficits, low end

drained.ca scenario

series.scenario_deficit_growth_low.2026-2035

15.0%

Period
2026 to 2035
Unit
Ratio, shown as a percentage
Stored value
0.15

An assumption of our stress scenario, chosen as a deliberately adverse case. It is not a forecast.

drained.ca stress scenario: annual growth in government deficits, high end

drained.ca scenario

series.scenario_deficit_growth_high.2026-2035

20.0%

Period
2026 to 2035
Unit
Ratio, shown as a percentage
Stored value
0.2

An assumption of our stress scenario, chosen as a deliberately adverse case. It is not a forecast.

drained.ca stress scenario: annual nominal GDP growth, low end

drained.ca scenario

series.scenario_gdp_growth_low.2026-2035

2.0%

Period
2026 to 2035
Unit
Ratio, shown as a percentage
Stored value
0.02

An assumption of our stress scenario, chosen as a deliberately adverse case. It is not a forecast.

drained.ca stress scenario: annual nominal GDP growth, high end

drained.ca scenario

series.scenario_gdp_growth_high.2026-2035

3.0%

Period
2026 to 2035
Unit
Ratio, shown as a percentage
Stored value
0.03

An assumption of our stress scenario, chosen as a deliberately adverse case. It is not a forecast.

Canada, nominal GDP (current dollars)

SeriesActualPreliminary

series.nominal_gdp.canada

Latest: $3,245,257,000,000 ($3.2T) (2025)

Period
1999 to 2025
Unit
Canadian dollars
Canada, nominal GDP (current dollars), by period
PeriodValueStatusSourceNote
1999$1.0TActualSeries source
2000$1.1TActualSeries source
2001$1.1TActualSeries source
2002$1.2TActualSeries source
2003$1.3TActualSeries source
2004$1.3TActualSeries source
2005$1.4TActualSeries source
2006$1.5TActualSeries source
2007$1.6TActualSeries source
2008$1.7TActualSeries source
2009$1.6TActualSeries source
2010$1.7TActualSeries source
2011$1.8TActualSeries source
2012$1.8TActualSeries source
2013$1.9TActualSeries source
2014$2.0TActualSeries source
2015$2.0TActualSeries source
2016$2.0TActualSeries source
2017$2.1TActualSeries source
2018$2.2TActualSeries source
2019$2.3TActualSeries source
2020$2.2TActualSeries source
2021$2.5TActualSeries source
2022$2.9TActualSeries source
2023$3.0TActualSeries source
2024$3.1TActualSeries source
2025$3.2TPreliminaryStatistics Canada, Table 36-10-0104-01, Gross domestic product, expenditure-based, Canada, quarterly, Vector v62305783, GDP at market prices, current prices, seasonally adjusted at annual rates; 2025 = average of the four quarters (release of 2026-08-28)The annual table (36-10-0222-01) adds 2025 in November 2026.

Canada, real GDP (chained 2017 dollars)

SeriesActualPreliminary

series.real_gdp.canada

Latest: $2,501,835,000,000 ($2.5T) (2025)

Period
2014 to 2025
Unit
Canadian dollars
Canada, real GDP (chained 2017 dollars), by period
PeriodValueStatusSourceNote
2014$2.0TActualSeries source
2015$2.1TActualSeries source
2016$2.1TActualSeries source
2017$2.1TActualSeries source
2018$2.2TActualSeries source
2019$2.2TActualSeries source
2020$2.1TActualSeries source
2021$2.3TActualSeries source
2022$2.4TActualSeries source
2023$2.4TActualSeries source
2024$2.5TActualSeries source
2025$2.5TPreliminaryStatistics Canada, Table 36-10-0104-01, Gross domestic product, expenditure-based, Canada, quarterly, Vector v62305752, GDP at market prices, chained (2017) dollars, seasonally adjusted at annual rates; 2025 = average of the four quarters (release of 2026-08-28)For 2014 to 2024 the same average of quarters matches the annual table to within $1 million.

Inflation-adjusted output. Chained dollars are for comparisons over time, not with other countries' dollar levels.

Canada, population on July 1

SeriesEstimate

series.population_july_1.canada

Latest: 41,608,982 (2025-07-01)

Period
2014-07-01 to 2025-07-01
Unit
Persons
Canada, population on July 1, by period
PeriodValue
2014-07-0135,434,066
2015-07-0135,704,498
2016-07-0136,110,803
2017-07-0136,545,075
2018-07-0137,072,620
2019-07-0137,618,495
2020-07-0138,028,638
2021-07-0138,239,864
2022-07-0138,945,628
2023-07-0140,022,704
2024-07-0141,162,593
2025-07-0141,608,982

Canada, population on April 1

SeriesEstimate

series.population_april_1.canada

Latest: 41,495,432 (2025-04-01)

Period
2015-04-01 to 2025-04-01
Unit
Persons
Canada, population on April 1, by period
PeriodValue
2015-04-0135,606,734
2016-04-0135,970,407
2017-04-0136,397,141
2018-04-0136,903,671
2019-04-0137,437,243
2020-04-0138,006,941
2021-04-0138,140,918
2022-04-0138,678,014
2023-04-0139,684,191
2024-04-0140,912,561
2025-04-0141,495,432

Used as the population on the day after each federal fiscal year ends (March 31).

Canada, Consumer Price Index, all items, annual average (2002 = 100)

SeriesActual

series.cpi.canada

Latest: 164.2 (2025)

Period
2015 to 2025
Unit
Index
Canada, Consumer Price Index, all items, annual average (2002 = 100), by period
PeriodValue
2015126.6
2016128.4
2017130.4
2018133.4
2019136
2020137
2021141.6
2022151.2
2023157.1
2024160.9
2025164.2

Federal debt (accumulated deficit) at March 31

SeriesActual

series.federal_accumulated_deficit.canada

Latest: $1,266,484,000,000 ($1.3T) (FY2024-25)

Period
FY2014-15 to FY2024-25
Unit
Canadian dollars
Federal debt (accumulated deficit) at March 31, by period
PeriodValue
FY2014-15$628.9B
FY2015-16$634.4B
FY2016-17$651.5B
FY2017-18$671.3B
FY2018-19$685.5B
FY2019-20$721.4B
FY2020-21$1.0T
FY2021-22$1.1T
FY2022-23$1.2T
FY2023-24$1.2T
FY2024-25$1.3T

The accumulated deficit is total liabilities minus financial and non-financial assets (net debt minus non-financial assets). Restated series: later accounting changes are applied to earlier years, so early values differ from those first published (the 2014-15 Annual Financial Report showed $612.3 billion).

Federal debt (accumulated deficit) as a share of GDP

SeriesActual

series.federal_debt_to_gdp.canada

Latest: 41.2% (FY2024-25)

Period
FY2014-15 to FY2024-25
Unit
Ratio, shown as a percentage
Federal debt (accumulated deficit) as a share of GDP, by period
PeriodValue
FY2014-1531.5%
FY2015-1631.9%
FY2016-1732.2%
FY2017-1831.4%
FY2018-1930.7%
FY2019-2031.2%
FY2020-2147.2%
FY2021-2245.0%
FY2022-2341.1%
FY2023-2442.1%
FY2024-2541.2%

The Spring Economic Update 2026 restates 2024-25 at 40.7% after Statistics Canada revised GDP.

Federal budgetary balance (negative = deficit)

SeriesActual

series.federal_budgetary_balance.canada

Latest: -$36,348,000,000 (-$36.3B) (FY2024-25)

Period
FY2014-15 to FY2024-25
Unit
Canadian dollars
Federal budgetary balance (negative = deficit), by period
PeriodValue
FY2014-15-$550.0M
FY2015-16-$2.9B
FY2016-17-$19.0B
FY2017-18-$19.0B
FY2018-19-$14.0B
FY2019-20-$39.4B
FY2020-21-$327.7B
FY2021-22-$90.3B
FY2022-23-$35.3B
FY2023-24-$61.9B
FY2024-25-$36.3B

Restated series: later accounting changes are applied to earlier years, so early values differ from those first published.

Canada, nominal GDP growth, compound annual average, 2000 to 2024

DerivedActual

series.nominal_gdp_growth_avg.2000-2024

4.6%

Period
2000 to 2024
Unit
Ratio, shown as a percentage
Stored value
0.0460806209944955

Formula: (nominal GDP 2024 ÷ nominal GDP 1999) ^ (1/25) − 1

Inputs

Canada, real GDP per person, 2015 (chained 2017 dollars)

DerivedEstimate

series.real_gdp_per_person.2015

$57,591

Period
2015
Unit
Canadian dollars
Stored value
57590.9231380315

Formula: real GDP ÷ population on July 1

Inputs

Canada, real GDP per person, 2025 (chained 2017 dollars)

DerivedEstimate

series.real_gdp_per_person.2025

$60,127

Period
2025
Unit
Canadian dollars
Stored value
60127.2821334586

Formula: real GDP ÷ population on July 1

Inputs

Canada, change in real GDP per person, 2015 to 2025

DerivedEstimate

series.real_gdp_per_person_change.2015-2025

4.4%

Period
2015 to 2025
Unit
Ratio, shown as a percentage
Stored value
0.0440409505044403

Formula: real GDP per person 2025 ÷ real GDP per person 2015 − 1

Inputs

Canada, real GDP per person, compound annual growth, 2015 to 2025

DerivedEstimate

series.real_gdp_per_person_growth_avg.2015-2025

0.4%

Period
2015 to 2025
Unit
Ratio, shown as a percentage
Stored value
0.00431917218370059

Formula: (real GDP per person 2025 ÷ real GDP per person 2015) ^ (1/10) − 1

Inputs

Federal debt (accumulated deficit) per person, March 31, 2015

DerivedEstimate

series.federal_debt_per_person.2015-03-31

$17,663

Period
2015-03-31
Unit
Canadian dollars
Stored value
17662.6702128873

Formula: federal debt (accumulated deficit) at March 31 ÷ population on April 1

Inputs

Federal debt (accumulated deficit) per person, March 31, 2025

DerivedEstimate

series.federal_debt_per_person.2025-03-31

$30,521

Period
2025-03-31
Unit
Canadian dollars
Stored value
30521.0462684182

Formula: federal debt (accumulated deficit) at March 31 ÷ population on April 1

Inputs

Change in federal debt per person, March 2015 to March 2025, before inflation

DerivedEstimate

series.federal_debt_per_person_change.2015-2025

72.8%

Period
2015 to 2025
Unit
Ratio, shown as a percentage
Stored value
0.727997290361512

Formula: debt per person, March 2025 ÷ debt per person, March 2015 − 1 (current dollars)

Inputs

Change in federal debt per person, March 2015 to March 2025, after inflation

DerivedEstimate

series.federal_debt_per_person_real_change.2015-2025

33.2%

Period
2015 to 2025
Unit
Ratio, shown as a percentage
Stored value
0.332304853591763

Formula: (debt per person, March 2025 ÷ CPI 2025) ÷ (debt per person, March 2015 ÷ CPI 2015) − 1

Inputs

Federal balanced or surplus budgets, 2015-16 to 2024-25

DerivedActual

series.federal_surplus_years.fy2015-16-to-fy2024-25

0

Period
FY2015-16 to FY2024-25
Unit
Count
Stored value
0

Formula: number of fiscal years from 2015-16 to 2024-25 with a budgetary balance of zero or more

Inputs

Transfers and equalization

Equalization payment to Newfoundland and Labrador, 2025-26

Actual

transfers.equalization.nl.fy2025-26

$113,000,000 ($113.0M)

Period
FY2025-26
Unit
Canadian dollars
Stored value
113000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Newfoundland and Labrador" (millions of dollars), "Equalization" row, 2025-26 columnPublished December 11, 2025. Accessed September 28, 2026.

Equalization payment to Prince Edward Island, 2025-26

Actual

transfers.equalization.pe.fy2025-26

$666,000,000 ($666.0M)

Period
FY2025-26
Unit
Canadian dollars
Stored value
666000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Prince Edward Island" (millions of dollars), "Equalization" row, 2025-26 columnPublished December 11, 2025. Accessed September 28, 2026.

Equalization payment to Nova Scotia, 2025-26

Actual

transfers.equalization.ns.fy2025-26

$3,465,000,000 ($3.5B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
3465000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Nova Scotia" (millions of dollars), "Equalization" row, 2025-26 columnPublished December 11, 2025. Accessed September 28, 2026.

Equalization payment to New Brunswick, 2025-26

Actual

transfers.equalization.nb.fy2025-26

$3,123,000,000 ($3.1B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
3123000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to New Brunswick" (millions of dollars), "Equalization" row, 2025-26 columnPublished December 11, 2025. Accessed September 28, 2026.

Equalization payment to Quebec, 2025-26

Actual

transfers.equalization.qc.fy2025-26

$13,567,000,000 ($13.6B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
13567000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Quebec" (millions of dollars), "Equalization" row, 2025-26 columnPublished December 11, 2025. Accessed September 28, 2026.

Equalization payment to Ontario, 2025-26

Actual

transfers.equalization.on.fy2025-26

$546,000,000 ($546.0M)

Period
FY2025-26
Unit
Canadian dollars
Stored value
546000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Ontario" (millions of dollars), "Equalization" row, 2025-26 columnPublished December 11, 2025. Accessed September 28, 2026.

Equalization payment to Manitoba, 2025-26

Actual

transfers.equalization.mb.fy2025-26

$4,689,000,000 ($4.7B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
4689000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Manitoba" (millions of dollars), "Equalization" row, 2025-26 columnPublished December 11, 2025. Accessed September 28, 2026.

Equalization payment to Saskatchewan, 2025-26

Actual

transfers.equalization.sk.fy2025-26

$0.00

Period
FY2025-26
Unit
Canadian dollars
Stored value
0

Receives no Equalization payment this year.

  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Saskatchewan" (millions of dollars), "Equalization" row, 2025-26 column (shown as "-", nil)Published December 11, 2025. Accessed September 28, 2026.

Equalization payment to Alberta, 2025-26

Actual

transfers.equalization.ab.fy2025-26

$0.00

Period
FY2025-26
Unit
Canadian dollars
Stored value
0

Receives no Equalization payment this year.

  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Alberta" (millions of dollars), "Equalization" row, 2025-26 column (shown as "-", nil)Published December 11, 2025. Accessed September 28, 2026.

Equalization payment to British Columbia, 2025-26

Actual

transfers.equalization.bc.fy2025-26

$0.00

Period
FY2025-26
Unit
Canadian dollars
Stored value
0

Receives no Equalization payment this year.

  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to British Columbia" (millions of dollars), "Equalization" row, 2025-26 column (shown as "-", nil)Published December 11, 2025. Accessed September 28, 2026.

Equalization payment to Newfoundland and Labrador, 2026-27

Actual

transfers.equalization.nl.fy2026-27

$182,000,000 ($182.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
182000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Newfoundland and Labrador" (millions of dollars), "Equalization" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.

Equalization payment to Prince Edward Island, 2026-27

Actual

transfers.equalization.pe.fy2026-27

$723,000,000 ($723.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
723000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Prince Edward Island" (millions of dollars), "Equalization" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.

Equalization payment to Nova Scotia, 2026-27

Actual

transfers.equalization.ns.fy2026-27

$3,538,000,000 ($3.5B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
3538000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Nova Scotia" (millions of dollars), "Equalization" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.

Equalization payment to New Brunswick, 2026-27

Actual

transfers.equalization.nb.fy2026-27

$3,360,000,000 ($3.4B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
3360000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to New Brunswick" (millions of dollars), "Equalization" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.

Equalization payment to Quebec, 2026-27

Actual

transfers.equalization.qc.fy2026-27

$13,907,000,000 ($13.9B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
13907000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Quebec" (millions of dollars), "Equalization" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.

Equalization payment to Ontario, 2026-27

Actual

transfers.equalization.on.fy2026-27

$406,000,000 ($406.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
406000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Ontario" (millions of dollars), "Equalization" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.

Equalization payment to Manitoba, 2026-27

Actual

transfers.equalization.mb.fy2026-27

$5,044,000,000 ($5.0B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
5044000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Manitoba" (millions of dollars), "Equalization" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.

Equalization payment to Saskatchewan, 2026-27

Actual

transfers.equalization.sk.fy2026-27

$0.00

Period
FY2026-27
Unit
Canadian dollars
Stored value
0

Receives no Equalization payment this year.

  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Saskatchewan" (millions of dollars), "Equalization" row, 2026-27 column (shown as "-", nil)Published December 11, 2025. Accessed September 28, 2026.

Equalization payment to Alberta, 2026-27

Actual

transfers.equalization.ab.fy2026-27

$0.00

Period
FY2026-27
Unit
Canadian dollars
Stored value
0

Receives no Equalization payment this year.

  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Alberta" (millions of dollars), "Equalization" row, 2026-27 column (shown as "-", nil)Published December 11, 2025. Accessed September 28, 2026.

Equalization payment to British Columbia, 2026-27

Actual

transfers.equalization.bc.fy2026-27

$0.00

Period
FY2026-27
Unit
Canadian dollars
Stored value
0

Receives no Equalization payment this year.

  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to British Columbia" (millions of dollars), "Equalization" row, 2026-27 column (shown as "-", nil)Published December 11, 2025. Accessed September 28, 2026.

Equalization, total payments, 2024-25

Actual

transfers.equalization.total.fy2024-25

$25,253,000,000 ($25.3B)

Period
FY2024-25
Unit
Canadian dollars
Stored value
25253000000

Equalization is paid by the federal government from its general revenues; provincial governments pay nothing into it (Finance Canada, Equalization program).

  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Provinces and Territories" (millions of dollars), "Equalization" row, 2024-25 columnPublished December 11, 2025. Accessed September 28, 2026.

Territorial Formula Financing, total, 2024-25

Actual

transfers.tff.total.fy2024-25

$5,159,000,000 ($5.2B)

Period
FY2024-25
Unit
Canadian dollars
Stored value
5159000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Provinces and Territories" (millions of dollars), "Territorial Formula Financing" row, 2024-25 columnPublished December 11, 2025. Accessed September 28, 2026.

Canada Health Transfer, total, 2024-25

Actual

transfers.cht.total.fy2024-25

$52,081,000,000 ($52.1B)

Period
FY2024-25
Unit
Canadian dollars
Stored value
52081000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Provinces and Territories" (millions of dollars), "Canada Health Transfer" row, 2024-25 columnPublished December 11, 2025. Accessed September 28, 2026.

Canada Social Transfer, total, 2024-25

Actual

transfers.cst.total.fy2024-25

$16,909,000,000 ($16.9B)

Period
FY2024-25
Unit
Canadian dollars
Stored value
16909000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Provinces and Territories" (millions of dollars), "Canada Social Transfer" row, 2024-25 columnPublished December 11, 2025. Accessed September 28, 2026.

Major transfers to provinces and territories, total, 2024-25

Actual

transfers.major.total.fy2024-25

$99,401,000,000 ($99.4B)

Period
FY2024-25
Unit
Canadian dollars
Stored value
99401000000

Canada Health Transfer, Canada Social Transfer, Equalization and Territorial Formula Financing.

  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Provinces and Territories" (millions of dollars), "Total - Federal Support" row, 2024-25 columnPublished December 11, 2025. Accessed September 28, 2026.

Equalization, total payments, 2025-26

Actual

transfers.equalization.total.fy2025-26

$26,170,000,000 ($26.2B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
26170000000

Equalization is paid by the federal government from its general revenues; provincial governments pay nothing into it (Finance Canada, Equalization program).

  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Provinces and Territories" (millions of dollars), "Equalization" row, 2025-26 columnPublished December 11, 2025. Accessed September 28, 2026.

Territorial Formula Financing, total, 2025-26

Actual

transfers.tff.total.fy2025-26

$5,489,000,000 ($5.5B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
5489000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Provinces and Territories" (millions of dollars), "Territorial Formula Financing" row, 2025-26 columnPublished December 11, 2025. Accessed September 28, 2026.

Canada Health Transfer, total, 2025-26

Actual

transfers.cht.total.fy2025-26

$54,685,000,000 ($54.7B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
54685000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Provinces and Territories" (millions of dollars), "Canada Health Transfer" row, 2025-26 columnPublished December 11, 2025. Accessed September 28, 2026.

Canada Social Transfer, total, 2025-26

Actual

transfers.cst.total.fy2025-26

$17,416,000,000 ($17.4B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
17416000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Provinces and Territories" (millions of dollars), "Canada Social Transfer" row, 2025-26 columnPublished December 11, 2025. Accessed September 28, 2026.

Major transfers to provinces and territories, total, 2025-26

Actual

transfers.major.total.fy2025-26

$103,759,000,000 ($103.8B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
103759000000

Canada Health Transfer, Canada Social Transfer, Equalization and Territorial Formula Financing.

  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Provinces and Territories" (millions of dollars), "Total - Federal Support" row, 2025-26 columnPublished December 11, 2025. Accessed September 28, 2026.

Equalization, total payments, 2026-27

Actual

transfers.equalization.total.fy2026-27

$27,160,000,000 ($27.2B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
27160000000

Equalization is paid by the federal government from its general revenues; provincial governments pay nothing into it (Finance Canada, Equalization program).

  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Provinces and Territories" (millions of dollars), "Equalization" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.

Territorial Formula Financing, total, 2026-27

Actual

transfers.tff.total.fy2026-27

$5,844,000,000 ($5.8B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
5844000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Provinces and Territories" (millions of dollars), "Territorial Formula Financing" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.

Canada Health Transfer, total, 2026-27

Actual

transfers.cht.total.fy2026-27

$57,419,000,000 ($57.4B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
57419000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Provinces and Territories" (millions of dollars), "Canada Health Transfer" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.

Canada Social Transfer, total, 2026-27

Actual

transfers.cst.total.fy2026-27

$17,939,000,000 ($17.9B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
17939000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Provinces and Territories" (millions of dollars), "Canada Social Transfer" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.

Major transfers to provinces and territories, total, 2026-27

Actual

transfers.major.total.fy2026-27

$108,362,000,000 ($108.4B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
108362000000

Canada Health Transfer, Canada Social Transfer, Equalization and Territorial Formula Financing.

  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Provinces and Territories" (millions of dollars), "Total - Federal Support" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.

Canada Health Transfer to Alberta, 2025-26

Actual

transfers.cht.ab.fy2025-26

$6,603,000,000 ($6.6B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
6603000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Alberta" (millions of dollars), "Canada Health Transfer" row, 2025-26 columnPublished December 11, 2025. Accessed September 28, 2026.

Canada Social Transfer to Alberta, 2025-26

Actual

transfers.cst.ab.fy2025-26

$2,103,000,000 ($2.1B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
2103000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Alberta" (millions of dollars), "Canada Social Transfer" row, 2025-26 columnPublished December 11, 2025. Accessed September 28, 2026.

Major federal transfers to Alberta, total, 2025-26

Actual

transfers.major.ab.fy2025-26

$8,706,000,000 ($8.7B)

Period
FY2025-26
Unit
Canadian dollars
Stored value
8706000000

Alberta receives the Canada Health Transfer and Canada Social Transfer and no Equalization.

  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Alberta" (millions of dollars), "Total - Federal Support" row, 2025-26 columnPublished December 11, 2025. Accessed September 28, 2026.

Canada Health Transfer to Alberta, 2026-27

Actual

transfers.cht.ab.fy2026-27

$7,036,000,000 ($7.0B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
7036000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Alberta" (millions of dollars), "Canada Health Transfer" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.

Canada Social Transfer to Alberta, 2026-27

Actual

transfers.cst.ab.fy2026-27

$2,198,000,000 ($2.2B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
2198000000
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Alberta" (millions of dollars), "Canada Social Transfer" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.

Major federal transfers to Alberta, total, 2026-27

Actual

transfers.major.ab.fy2026-27

$9,235,000,000 ($9.2B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
9235000000

Alberta receives the Canada Health Transfer and Canada Social Transfer and no Equalization.

  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Alberta" (millions of dollars), "Total - Federal Support" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.

Federal government revenue collected in Alberta, 2024

Actual

transfers.alberta.federal_revenue.2024

$73,354,000,000 ($73.4B)

Period
2024
Unit
Canadian dollars
Stored value
73354000000

Federal general government on the national-accounts basis. Excludes the Canada Pension Plan, which the table treats as a separate level of government; includes Employment Insurance. Revenue is where federal taxes are collected (corporate income tax by place of business) and spending is where federal money is spent, so federal services delivered from outside Alberta count elsewhere. This is not Equalization, which is paid from federal general revenue.

Federal government spending in Alberta, 2024

Actual

transfers.alberta.federal_spending.2024

$54,354,000,000 ($54.4B)

Period
2024
Unit
Canadian dollars
Stored value
54354000000

Federal general government on the national-accounts basis. Excludes the Canada Pension Plan, which the table treats as a separate level of government; includes Employment Insurance. Revenue is where federal taxes are collected (corporate income tax by place of business) and spending is where federal money is spent, so federal services delivered from outside Alberta count elsewhere. This is not Equalization, which is paid from federal general revenue.

Net federal balance in Alberta (federal revenue collected in Alberta minus federal spending in Alberta), 2024

Actual

transfers.alberta.net_federal_balance.2024

$19,000,000,000 ($19.0B)

Period
2024
Unit
Canadian dollars
Stored value
19000000000

Federal general government on the national-accounts basis. Excludes the Canada Pension Plan, which the table treats as a separate level of government; includes Employment Insurance. Revenue is where federal taxes are collected (corporate income tax by place of business) and spending is where federal money is spent, so federal services delivered from outside Alberta count elsewhere. This is not Equalization, which is paid from federal general revenue.

Federal government revenue, all of Canada, 2024

Actual

transfers.canada.federal_revenue.2024

$486,736,000,000 ($486.7B)

Period
2024
Unit
Canadian dollars
Stored value
486736000000

National-accounts basis, excluding the Canada Pension Plan.

Federal government surplus or deficit, all of Canada, national-accounts basis, 2024

Actual

transfers.canada.federal_balance.2024

-$75,342,000,000 (-$75.3B)

Period
2024
Unit
Canadian dollars
Stored value
-75342000000

National-accounts basis, calendar year; differs from the budgetary balance in the Public Accounts.

Canada Pension Plan surplus from Alberta (contributions and income minus benefits paid), 2024

Actual

transfers.alberta.cpp_balance.2024

$7,161,000,000 ($7.2B)

Period
2024
Unit
Canadian dollars
Stored value
7161000000

Shown separately: CPP contributions fund the contributors' own future pensions and sit outside the federal budget.

Net federal balance in Alberta (federal revenue collected in Alberta minus federal spending in Alberta), by calendar year

SeriesActual

transfers.alberta.net_federal_balance_history

Latest: $19,000,000,000 ($19.0B) (2024)

Period
2007 to 2024
Unit
Canadian dollars
Net federal balance in Alberta (federal revenue collected in Alberta minus federal spending in Alberta), by calendar year, by period
PeriodValue
2007$22.2B
2008$22.5B
2009$17.7B
2010$16.6B
2011$17.9B
2012$19.2B
2013$23.5B
2014$27.1B
2015$24.8B
2016$16.0B
2017$14.6B
2018$17.5B
2019$14.4B
2020-$16.9B
2021$1.6B
2022$17.1B
2023$18.7B
2024$19.0B

Federal general government on the national-accounts basis. Excludes the Canada Pension Plan, which the table treats as a separate level of government; includes Employment Insurance. Revenue is where federal taxes are collected (corporate income tax by place of business) and spending is where federal money is spent, so federal services delivered from outside Alberta count elsewhere. This is not Equalization, which is paid from federal general revenue. Negative in 2020, when Alberta was a net recipient.

Albertans' net contribution to the rest of Canada, 2000 to 2023 (Fairness Alberta's adjusted estimate)

Estimate

transfers.alberta.net_contribution_fairness_alberta.2000-2023

$544,000,000,000 ($544.0B)

Period
2000 to 2023
Unit
Canadian dollars
Stored value
544000000000

Analysis by an advocacy group, not an official statistic. It uses Finances of the Nation's "adjusted" balance, which includes the Canada Pension Plan and credits Albertans with a per-person share of federal borrowing, so it is larger than federal revenue minus federal spending. Statistics Canada's unadjusted figures, which exclude the CPP, are listed separately.

  • Fairness Alberta, Fiscal Fairness (opens in a new tab)Introductory note: "From 2000-2023, the adjusted balance from Albertans to the rest of Canada was $544 billion" (citing Finances of the Nation, Federal Fiscal Balances)Accessed September 28, 2026.

Albertans' net contribution to federal finances, 2007-08 to 2026-27 (Fraser Institute estimate)

Forecast

transfers.alberta.net_contribution_fraser.2007-08_2026-27

$321,900,000,000 ($321.9B)

Period
2007-08 to 2026-27
Unit
Canadian dollars
Stored value
321900000000

Analysis by a think tank, not an official statistic; the final years are projections.

Federal revenue from Alberta, 2026-27 (School of Public Policy estimate)

Forecast

transfers.alberta.federal_revenue_spp.fy2026-27

$70,900,000,000 ($70.9B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
70900000000

Analysis, not an official statistic: an estimate by University of Calgary School of Public Policy economists (Dade, Fellows, Johnston, Lester, Sargent, Sayers, Tombe and Winter) in a report commissioned by the Government of Alberta, September 2026 (https://doi.org/10.55016/e1sch654). It excludes the CPP and is not adjusted for the federal deficit. The project's overview report gives a different figure for the gap; this entry uses Table 4 of the technical paper.

Federal spending in Alberta, 2026-27 (School of Public Policy estimate)

Forecast

transfers.alberta.federal_spending_spp.fy2026-27

$56,900,000,000 ($56.9B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
56900000000

Analysis, not an official statistic: an estimate by University of Calgary School of Public Policy economists (Dade, Fellows, Johnston, Lester, Sargent, Sayers, Tombe and Winter) in a report commissioned by the Government of Alberta, September 2026 (https://doi.org/10.55016/e1sch654). It excludes the CPP and is not adjusted for the federal deficit. The project's overview report gives a different figure for the gap; this entry uses Table 4 of the technical paper.

Alberta's fiscal gap with Ottawa, 2026-27 (School of Public Policy estimate)

Forecast

transfers.alberta.fiscal_gap_spp.fy2026-27

$14,000,000,000 ($14.0B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
14000000000

Analysis, not an official statistic: an estimate by University of Calgary School of Public Policy economists (Dade, Fellows, Johnston, Lester, Sargent, Sayers, Tombe and Winter) in a report commissioned by the Government of Alberta, September 2026 (https://doi.org/10.55016/e1sch654). It excludes the CPP and is not adjusted for the federal deficit. The project's overview report gives a different figure for the gap; this entry uses Table 4 of the technical paper.

Alberta's fiscal gap after counting federal services delivered outside Alberta, 2026-27 (School of Public Policy estimate)

Forecast

transfers.alberta.adjusted_fiscal_gap_spp.fy2026-27

$2,300,000,000 ($2.3B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
2300000000

Analysis, not an official statistic: an estimate by University of Calgary School of Public Policy economists (Dade, Fellows, Johnston, Lester, Sargent, Sayers, Tombe and Winter) in a report commissioned by the Government of Alberta, September 2026 (https://doi.org/10.55016/e1sch654). It excludes the CPP and is not adjusted for the federal deficit. The project's overview report gives a different figure for the gap; this entry uses Table 4 of the technical paper. Counts the cost of federal services that benefit Albertans but are delivered outside the province (defence, embassies, tax administration, head offices), listed separately.

Cost of replicating federal services that benefit Albertans but are delivered outside Alberta, 2026-27 (School of Public Policy estimate)

Forecast

transfers.alberta.services_outside_alberta_spp.fy2026-27

$11,700,000,000 ($11.7B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
11700000000

Analysis, not an official statistic: an estimate by University of Calgary School of Public Policy economists (Dade, Fellows, Johnston, Lester, Sargent, Sayers, Tombe and Winter) in a report commissioned by the Government of Alberta, September 2026 (https://doi.org/10.55016/e1sch654). It excludes the CPP and is not adjusted for the federal deficit. The project's overview report gives a different figure for the gap; this entry uses Table 4 of the technical paper.

Net federal balance per Albertan, 2024

DerivedEstimate

transfers.alberta.net_federal_balance.per_person.2024

$3,876

Period
2024
Unit
Canadian dollars
Stored value
3876.13109075349

Formula: net federal balance in Alberta, 2024 ÷ population of Alberta on July 1, 2024

Inputs

Federal revenue collected in Alberta minus federal spending in Alberta, per person. It is not Equalization.

Net federal balance in Alberta, 2007 to 2024 combined

DerivedActual

transfers.alberta.net_federal_balance.cumulative.2007-2024

$293,486,000,000 ($293.5B)

Period
2007 to 2024
Unit
Canadian dollars
Stored value
293486000000

Formula: sum of the annual net federal balances in Alberta, 2007 to 2024 (current dollars)

Inputs

Current dollars, not adjusted for inflation or for the federal deficit; excludes the Canada Pension Plan.

Alberta's share of federal government revenue, 2024

DerivedActual

transfers.alberta.federal_revenue_share.2024

15.1%

Period
2024
Unit
Ratio, shown as a percentage
Stored value
0.150705926826863

Formula: federal revenue collected in Alberta ÷ federal revenue collected in Canada

Inputs

Equalization as a share of federal expenses, 2026-27

DerivedForecast

transfers.equalization.share_of_federal_expenses.fy2026-27

4.6%

Period
FY2026-27
Unit
Ratio, shown as a percentage
Stored value
0.0456470588235294

Formula: Equalization payments ÷ total federal expenses

Inputs

Equalization is paid from federal general revenue, so roughly this share of each federal dollar goes to it.

Equalization as a share of federal expenses, 2025-26

DerivedEstimate

transfers.equalization.share_of_federal_expenses.fy2025-26

4.5%

Period
FY2025-26
Unit
Ratio, shown as a percentage
Stored value
0.0452533287221165

Formula: Equalization payments ÷ total federal expenses

Inputs

Quebec's share of Equalization, 2026-27

DerivedActual

transfers.equalization.qc_share.fy2026-27

51.2%

Period
FY2026-27
Unit
Ratio, shown as a percentage
Stored value
0.512039764359352

Formula: Equalization to Quebec ÷ total Equalization

Inputs

  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Quebec" (millions of dollars), "Equalization" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Provinces and Territories" (millions of dollars), "Equalization" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.

Cost of Equalization per Canadian, 2026-27

DerivedPreliminary

transfers.equalization.per_canadian.fy2026-27

$650

Period
FY2026-27
Unit
Canadian dollars
Stored value
649.785528907836

Formula: total Equalization ÷ population of Canada on July 1, 2026

Inputs

Albertans' implied share of the cost of Equalization, 2026-27

DerivedEstimate

transfers.equalization.alberta_implied_cost.fy2026-27

$4,093,172,973 ($4.1B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
4093172972.6176

Formula: total Equalization × Alberta's share of federal revenue (2024)

Inputs

drained.ca estimate. Ottawa pays Equalization from general revenue and the Alberta government pays nothing into it; this apportions the cost by where federal revenue is raised. It mixes a 2024 revenue share with the 2026-27 program.

Albertans' implied share of the cost of Equalization per Albertan, 2026-27

DerivedEstimate

transfers.equalization.alberta_implied_cost_per_person.fy2026-27

$802

Period
FY2026-27
Unit
Canadian dollars
Stored value
802.417732156634

Formula: Albertans' implied share of Equalization ÷ population of Alberta on July 1, 2026

Inputs

drained.ca estimate; see the implied share above for the method.

Provinces receiving no Equalization, 2026-27

DerivedActual

transfers.equalization.provinces_without_payment.fy2026-27

3

Period
FY2026-27
Unit
Count
Stored value
3

Formula: number of provinces whose 2026-27 Equalization payment is zero

Inputs

  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Newfoundland and Labrador" (millions of dollars), "Equalization" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Prince Edward Island" (millions of dollars), "Equalization" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Nova Scotia" (millions of dollars), "Equalization" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to New Brunswick" (millions of dollars), "Equalization" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Quebec" (millions of dollars), "Equalization" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Ontario" (millions of dollars), "Equalization" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Manitoba" (millions of dollars), "Equalization" row, 2026-27 columnPublished December 11, 2025. Accessed September 28, 2026.
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Saskatchewan" (millions of dollars), "Equalization" row, 2026-27 column (shown as "-", nil)Published December 11, 2025. Accessed September 28, 2026.
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to Alberta" (millions of dollars), "Equalization" row, 2026-27 column (shown as "-", nil)Published December 11, 2025. Accessed September 28, 2026.
  • Department of Finance Canada, Major federal transfers (opens in a new tab)Table "Federal Support to British Columbia" (millions of dollars), "Equalization" row, 2026-27 column (shown as "-", nil)Published December 11, 2025. Accessed September 28, 2026.

Alberta's fiscal gap with Ottawa per Albertan, 2026-27 (School of Public Policy estimate)

DerivedForecast

transfers.alberta.fiscal_gap_spp.per_person.fy2026-27

$2,745

Period
FY2026-27
Unit
Canadian dollars
Stored value
2744.53298830633

Formula: School of Public Policy fiscal gap for 2026-27 ÷ population of Alberta on July 1, 2026

Inputs

Analysis, not an official statistic (see the School of Public Policy entry).

Where tax dollars go

Standard hours of work in a week, in hours (Canada Labour Code)

Actual

allocation.standard_work_week.2026

40

Period
2026
Unit
Count
Stored value
40

drained.ca's per-hour-worked figures use this 40-hour week, 52 weeks a year. Section 169 applies to federally regulated employees; drained.ca uses it as the standard full-time week.

Alberta Advanced Education expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.advanced_education.fy2026-27

$7,738,000,000 ($7.7B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
7738000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Advanced Education" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Affordability and Utilities expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.affordability_and_utilities.fy2026-27

$153,000,000 ($153.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
153000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Affordability and Utilities" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Agriculture and Irrigation expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.agriculture_and_irrigation.fy2026-27

$963,000,000 ($963.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
963000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Agriculture and Irrigation" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Arts, Culture and Status of Women expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.arts_culture_and_status_of_women.fy2026-27

$199,000,000 ($199.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
199000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Arts, Culture and Status of Women" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Assisted Living and Social Services expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.assisted_living_and_social_services.fy2026-27

$12,233,000,000 ($12.2B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
12233000000

Includes Assisted Living Alberta (continuing care) and income supports such as AISH, income support and the Alberta Seniors Benefit. Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Assisted Living and Social Services" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Children and Family Services expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.children_and_family_services.fy2026-27

$1,685,000,000 ($1.7B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
1685000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Children and Family Services" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Education and Childcare expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.education_and_childcare.fy2026-27

$13,436,000,000 ($13.4B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
13436000000

Includes K-12 schools and child care. Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Education and Childcare" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Energy and Minerals expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.energy_and_minerals.fy2026-27

$894,000,000 ($894.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
894000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Energy and Minerals" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Environment and Protected Areas expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.environment_and_protected_areas.fy2026-27

$484,000,000 ($484.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
484000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Environment and Protected Areas" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Executive Council expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.executive_council.fy2026-27

$104,000,000 ($104.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
104000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Executive Council" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Forestry and Parks expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.forestry_and_parks.fy2026-27

$421,000,000 ($421.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
421000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Forestry and Parks" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Hospital and Surgical Health Services expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.hospital_and_surgical_health_services.fy2026-27

$13,832,000,000 ($13.8B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
13832000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Hospital and Surgical Health Services" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Indigenous Relations expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.indigenous_relations.fy2026-27

$268,000,000 ($268.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
268000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Indigenous Relations" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Infrastructure expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.infrastructure.fy2026-27

$961,000,000 ($961.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
961000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Infrastructure" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Jobs, Economy, Trade and Immigration expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.jobs_economy_trade_and_immigration.fy2026-27

$422,000,000 ($422.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
422000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Jobs, Economy, Trade and Immigration" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Justice expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.justice.fy2026-27

$773,000,000 ($773.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
773000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Justice" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Mental Health and Addiction expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.mental_health_and_addiction.fy2026-27

$2,043,000,000 ($2.0B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
2043000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Mental Health and Addiction" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Municipal Affairs expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.municipal_affairs.fy2026-27

$1,386,000,000 ($1.4B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
1386000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Municipal Affairs" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Primary and Preventative Health Services expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.primary_and_preventative_health_services.fy2026-27

$12,653,000,000 ($12.7B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
12653000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Primary and Preventative Health Services" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Public Safety and Emergency Services expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.public_safety_and_emergency_services.fy2026-27

$1,509,000,000 ($1.5B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
1509000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Public Safety and Emergency Services" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Service Alberta and Red Tape Reduction expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.service_alberta_and_red_tape_reduction.fy2026-27

$206,000,000 ($206.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
206000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Service Alberta and Red Tape Reduction" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Technology and Innovation expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.technology_and_innovation.fy2026-27

$1,103,000,000 ($1.1B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
1103000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Technology and Innovation" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Tourism and Sport expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.tourism_and_sport.fy2026-27

$127,000,000 ($127.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
127000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Tourism and Sport" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Transportation and Economic Corridors expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.transportation_and_economic_corridors.fy2026-27

$2,998,000,000 ($3.0B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
2998000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Transportation and Economic Corridors" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Treasury Board and Finance expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.treasury_board_and_finance.fy2026-27

$2,115,000,000 ($2.1B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
2115000000

Ministry expense only. Interest on Alberta's debt is the separate "Debt servicing costs" line. Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Treasury Board and Finance" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Legislative Assembly expense, 2026-27 (Budget 2026)

Forecast

allocation.alberta.legislative_assembly.fy2026-27

$216,000,000 ($216.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
216000000

Total expense of the ministry (operating expense, capital grants, amortization and other expense) as budgeted in Budget 2026 (February 2026). The first-quarter update of August 2026 revised Alberta's total expense for the year.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Legislative Assembly" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta total program expense, all ministries, 2026-27 (Budget 2026)

Forecast

allocation.alberta.program_expense.fy2026-27

$78,923,000,000 ($78.9B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
78923000000

The sum of the ministry lines; the table rounds each line to $1 million, so they may not add exactly.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Total program expense" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta pension provisions, 2026-27 (Budget 2026)

Forecast

allocation.alberta.pension_provisions.fy2026-27

-$408,000,000 (-$408.0M)

Period
FY2026-27
Unit
Canadian dollars
Stored value
-408000000

A non-cash accounting adjustment for public-sector pension obligations; negative because it reduces expense.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Pension provisions" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta contingency, 2026-27 (Budget 2026)

Forecast

allocation.alberta.contingency.fy2026-27

$2,000,000,000 ($2.0B)

Period
FY2026-27
Unit
Canadian dollars
Stored value
2000000000

Money set aside for costs not yet assigned to a ministry, such as disasters and emergencies.

  • Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 3 "Statement of Operations", p. 150 (millions of dollars), "Contingency (forecast unallocated)" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.