Fiscal policy
Yves Giroux, the Parliamentary Budget Officer (PBO), finds fiscal policy is sustainable over the long term for the federal government, but is not sustainable for seven of ten provincial governments.  The deterioration in provincial government finances over the long term is due chiefly to the negative impact of the pandemic, lower oil prices, and rising health care costs from population ageing.  When the PBO defines fiscal policy as unsustainable, he means changes in current fiscal policy are necessary to avoid excessive growth in government debt.  (The PBO analysis assumes the pandemic budgetary response measures are temporary and are withdrawn as currently scheduled.  Fiscal policy then reverts to its pre-crisis setting with no new programs or extensions.)