QUESTION PERIOD — Finance
Federal Deficit
June 12, 2024
Senator Gold, the government recently released two different deficit numbers. The Fiscal Monitor said it was $50.9 billion and the budget said it was $40 billion. Could you tell us what the deficit was for last year? There’s a big difference in those two numbers. Could you give us the correct number?
Thank you for your question, senator.
As you would know, the initial numbers and the revised numbers in both cases were not necessarily the final numbers. It was made clear by the Department of Finance that the final results for 2023 and 2024 still require additional adjustments. Therefore, unfortunately, I’m not able to give you the number at this juncture.
I expect that the government will make us wait until about Christmas for the number.
Why would the government even release two different numbers for the deficit? The numbers were released at about the same time, and there’s quite a difference in the numbers. Why would they release those two numbers and not provide an explanation?
I’m not in a position to answer your specific question, but as I said, it was made clear by the Department of Finance — and even validated in reports in the press — that adjustments will be made, and I believe those numbers will ultimately be forthcoming.
