Report card · Fall 2026
Government of Canada
Fiscal year 2025-26. The short version first, then every figure behind it, from the government's audited public accounts.
The short version
In 2025-26, Government of Canada spent $565.7 billion, about $13,559 for every resident. That was 3.4% less than it planned.
It ended the year with a deficit of $39.3 billion, better than the deficit of $78.3 billion it had planned.
Its independent auditor (Auditor General of Canada) signed off on the accounts without reservation.
The audited results came out 220 days after the year ended.
What it means per person
Government of Canada's totals divided by its population of 41,723,923 on October 1, 2025 (Statistics Canada). This is not a tax bill: every Canadian pays for federal and provincial or territorial government at the same time, and some of this money comes from other governments.
- Spent $13,559 per resident, on services, programs and transfers
- Collected $12,617 per resident, in taxes, transfers and other revenue
- Paid in interest $1,283 per resident, about 10¢ of every revenue dollar
- Net debt $34,795 per resident, what it owes, less its financial assets
Where every dollar went
Of every dollar Government of Canada spent in 2025-26, as the government groups its spending.
- 23¢ Other expenses, excluding net actuarial losses
- 20¢ Major transfer payments to other levels of government
- 19¢ Other transfer payments
- 15¢ Old age security benefits, guaranteed income supplement and spouse's allowance
- 9¢ Public debt charges
- 14¢ Everything else
What went off plan
The areas furthest from their budget, in dollars. Going over isn't automatically bad (an emergency or a program added during the year can be the reason), and coming in under can mean delayed work.
Over budget
- Net actuarial losses +$1.9 billion (16.6%)
Under budget
- Other expenses, excluding net actuarial losses −$11.3 billion (−7.9%)
- Other transfer payments −$6.1 billion (−5.2%)
Context from the documents
- Budget 2025, the budget for this year, was tabled on November 4, 2025, about seven months into the fiscal year.
- The Public Accounts were tabled on November 6, 2026, within the legal deadline of December 31.
- The audited statements show the budget's total expenses in two parts; the budget figure here adds them together ($574,155 million plus $11,698 million).
Questions worth asking
Based only on the figures above. Put them to your MLA, MP or candidates, or to the finance department.
- Net actuarial losses cost $1.9 billion more than budgeted (16.6% over). What was the reason?
- The audited results took 220 days to come out. What would it take to publish them sooner?
- Interest on debt took about 10 cents of every dollar of revenue. What is the plan for the debt over the next few years?
Every figure behind this page, exactly as published, with the page it came from.
We extracted these figures from a PDF: Public Accounts of Canada 2026, Volume I: Summary Report and Consolidated Financial Statements (year ended March 31, 2026). They are shown exactly as published, in millions of dollars, with the page each one came from. Check them against the official document .
The year in figures
Actual results against the budget printed in the same audited statements. Amounts in millions of dollars. Debt and accumulated balances are shown as positive amounts; the label says which they are.
| Item | Actual | Budget | Difference | Where we found it |
|---|---|---|---|---|
| Total revenue | 526,412 | 507,504 | +18,908 +3.7% | Actual: Page 63 Budget: Page 63 |
| Total expenses | 565,728 | 585,853 | −20,125 −3.4% | Actual: Page 80 Budget: Page 63 |
| Annual surplus (deficit) | −39,316 | −78,349 | +39,033 | Actual: Page 63 Budget: Page 63 |
| Net debt | 1,451,764 | 1,480,364 | −28,600 −1.9% | Actual: Page 64 Budget: Page 66 |
| Accumulated deficit | 1,306,114 | — | — | Actual: Page 64 |
| Public debt charges | 53,541 | 55,649 | −2,108 −3.8% | Actual: Page 63 Budget: Page 63 |
Spending by area
Expenses by sector or function, as the government groups them, in millions of dollars. The thin line marks the budget.
Audit and release
- Auditor
- Auditor General of Canada
- Opinion
- Unmodified (clean)
- Audited results released
- November 6, 2026
- Days after year end
- 220
Source documents
We link to the official documents rather than republishing them. We kept a copy of each, as downloaded, so these figures can be re-checked even if a link changes.
Right of reply
No response from Government of Canada has been published yet.
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Respond on behalf of Government of Canada
Figures collected and checked November 6, 2026.
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