• P.E.I.'s deficit projection grows to nearly $460M in latest economic update

  Source: Prince Edward Island - Regional News
  Date: 2026-10-30 23:12:30.0
  Tags: [Prince Edward Island, Finance, Economy, Healthcare, Social Services]

  In its fall fiscal and economic update, the Government of Prince Edward Island increased its projected deficit for the 2026-27 fiscal year by nearly $50 million, moving from a spring budget projection of $410 million to $459.3 million. Operating expenses came in over $100 million above budget, primarily driven by spending on health care, social program funding, and rising fuel costs, according to Finance Minister Jill Burridge. Despite the increased deficit, the province's net debt is forecast to decrease by $101.8 million compared to spring estimates due to improving revenues, supported by a 3.1 per cent increase in average monthly employment, a drop in the unemployment rate to 7.4 per cent, a 7.2 per cent rise in international goods exports, and a 3.5 per cent increase in farm cash receipts.

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• Health spending helped push New Brunswick deficit to record $1.3B in last fiscal year

  Source: New Brunswick - Regional News
  Date: 2026-09-25 13:46:00.0
  Tags: [New Brunswick, Finance, Healthcare, Social Services, Economy, Taxation]

  The Government of New Brunswick announced a record deficit of $1.3 billion for the previous fiscal year, more than double the $549-million shortfall projected in the March 2025 budget by the Liberal government. Provincial revenues fell short by nearly $217 million due to lower harmonized sales taxes and reduced corporate and personal income taxes. Conversely, expenses exceeded expectations by almost $538 million, primarily driven by increased spending on healthcare and social development. Finance Minister René Legacy noted that the province closed the fiscal year with a net debt of $13.9 billion while facing ongoing cost pressures and potential U.S. trade tariffs.

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• CRA still owed over $5B in COVID-19 benefits sent to ineligible recipients

  Source: CBC Politics
  Date: 2026-09-18 19:50:00.0
  Tags: [National, Taxation, Finance, Economy, Social Services]

  The Canada Revenue Agency (CRA) reported that as of July 31, Canadians still owe $5.56 billion in outstanding debt for COVID-19 pandemic benefits—specifically under the Canada Emergency Response Benefit (CERB) and Canada Recovery Benefit (CRB)—after being deemed ineligible. The total debt has nearly halved from over $10 billion reported the previous November, with approximately $3.671 billion successfully recovered since collections began in 2022. The remaining balance includes $2.91 billion for CERB and $1.81 billion for CRB, though figures continue to fluctuate due to ongoing repayments, reassessed eligibility, and write-offs for permanent financial hardship recommended to Employment and Social Development Canada (ESDC). The CRA maintains a flexible collection approach with extended timelines and interest-free repayment arrangements, while retaining the right to pursue legal action against debtors with the verified ability to pay.

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• Yellowknife family urges Ottawa to renew support for employment program that helped their son

  Source: Territories - Northern Affairs (Yukon, NWT, Nunavut)
  Date: 2026-09-02 15:00:00.0
  Tags: [National, Labour, Social Services, Economy, Finance]

  Inclusion Canada and the Autism Alliance of Canada are seeking $50 million in the upcoming federal fall budget to renew funding for the Ready, Willing and Able (RWA) inclusive employment program. The program previously received $30 million from Ottawa in 2022—funding that is set to expire in March—to help Canadians with autism or intellectual disabilities secure employment and assist employers with hiring processes. Since its inception in 2014, the RWA program has helped nearly 6,500 people find jobs nationwide, including over 450 individuals in northern Canada, while engaging approximately 27,000 employers.

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