Reports - 2025-26

• Demographic Implications of the 2026-2028 Immigration Levels Plan
  Feb 26, 2026 • RP-2526-025-S
  This report analyzes the Government’s 2026-2028 Immigration Levels Plan in light of recent trends in Canada’s demographics. It also provides an update to PBO’s baseline demographic projection.
• Estimating First Nations and Inuit police services funding gap
  Feb 25, 2026 • RP-2526-024-C
  In response to a request by the Standing Committee on Indigenous and Northern Affairs, this report provides an estimate of the operational funding gap for First Nations and Inuit police services supported by the First Nations and Inuit Policing Program. It also projects the value of one-time costs to meet provincially estimated service needs.
• Supplementary Estimates (C) 2025-26
  Feb 23, 2026 • RP-2526-026-S
  This report provides a detailed analysis of the Government’s Third Supplementary Estimates for the 2025-26 fiscal year, which seeks Parliament’s approval for $5.4 billion.
• Projecting the Cost of the Interim Federal Health Program
  Feb 12, 2026 • RP-2526-023-C
  In response to a request by the Standing Committee on Health, this report projects the fiscal cost of the Interim Federal Health Program and details some of the key cost drivers.
• Fiscal Implications of Meeting NATO’s 5% Commitment
  Feb 5, 2026 • RP-2526-022-S
  This report examines the fiscal implications of Canada’s commitment to meet the North Atlantic Treaty Organization defence spending pledge of 5 per cent of gross domestic product by 2035.
• Build Canada Homes and the Outlook for Housing Programs under Budget 2025
  Dec 2, 2025 • RP-2526-020-S
  This report reviews the funding allocated to Build Canada Homes, the context of overall funding for housing programs, and the expected impact of that funding on housing.
• Estimating Canada’s 2030 Emissions Gap
  Nov 26, 2025 • RP-2526-021-S
  This report provides estimates of the gap between Canada’s projected greenhouse gas emissions in 2030 and the Government’s legislated target under the Canadian Net-Zero Emissions Accountability Act.
• Overview of First Nations and Inuit police funding and spending
  Nov 25, 2025 • RP-2526-019-C
  In response to a request by the Standing Committee on Indigenous and Northern Affairs, this report presents an overview of First Nations and Inuit police funding and spending.
• Supplementary Estimates (B) 2025-2026
  Nov 19, 2025 • RP-2526-018-S
  This report provides a detailed analysis of the Government’s secondary Supplementary Estimates for the 2025-26 fiscal year, which seeks Parliament’s approval of $10.8 billion.
• Budget 2025: Issues for Parliamentarians
  Nov 14, 2025 • RP-2526-017-S
  To assist parliamentarians in their budgetary deliberations, this report highlights key issues arising from Budget 2025.
• Fiscal Implications of the Government’s Purchase of Canada Mortgage Bonds
  Oct 30, 2025 • RP-2526-014-S
  This report provides an overview of the fiscal impact of the Government’s commitment to purchase up to $30 billion annually in Canada Mortgage Bonds.
• Individuals adversely affected by the Middle-Class Tax Cut
  Oct 30, 2025 • RP-2526-015-S
  In response to parliamentary interest, this report provides an analysis of tax filers that are adversely affected by the reduction in the personal income tax rate from 15 per cent to 14 per cent.
• Planned Capital Spending under Canada’s Defence Policy: 2025 Update
  Oct 29, 2025 • RP-2526-016-S
  This report analyzes planned capital spending by the Department of National Defence under Canada’s defence policy, Our North, Strong and Free, with updates current to June 2025.
• Projecting the Cost of the Disaster Financial Assistance Arrangements Program
  Oct 23, 2025 • RP-2526-013-S
  This report projects the cost of the Disaster Financial Assistance Arrangements (DFAA) program over 2025 to 2034 and provides a breakdown of costs across major disaster types including floods, wildfires, and storms.
• House Price Assessment – Update
  Oct 2, 2025 • RP-2526-011-S
  This report provides an update of PBO’s assessment of house prices relative to a household’s capacity to borrow and pay for the purchase of a house in selected Canadian cities.
• Economic and Fiscal Outlook – September 2025
  Sep 25, 2025 • RP-2526-012-S
  This report provides a baseline projection to help parliamentarians gauge potential economic and fiscal outcomes under current policy settings.
• Federal Infrastructure Spending – Update
  Sep 18, 2025 • RP-2526-010-S
  In response to interest from parliamentarians, this report provides an update on federal infrastructure spending.
• Estimating the top tail of the family wealth distribution in Canada – 2025 update
  Sep 11, 2025 • RP-2526-009-S
  This report updates the Parliamentary Budget Officer’s High-net-worth Family Database (HFD) and highlights the recent evolution of the wealth distribution in Canada.
• Projecting Federal Personnel Expenses
  Aug 28, 2025 • RP-2526-008-S
  The PBO’s fiscal model includes a federal personnel spending module. This module has been enhanced to provide a more detailed framework regarding in-year personnel changes across federal organizations, including characteristics such as employment tenure.
• Household Formation and the Housing Stock: Estimating the Housing Gap in 2035
  Aug 26, 2025 • RP-2526-007-S
  This report provides projections of household formation and the housing stock in Canada over the next ten years. The report also provides an estimate of the housing gap in 2035 at the national level based on the total vacancy rate.
• Forecasting Federal Capital Expenses
  Aug 14, 2025 • RP-2526-006-S
  The PBO’s fiscal model includes a federal capital spending module. This module has been expanded to more accurately measure federal investments in assets.
• Update on the Spending Outlook of the Canada Infrastructure Bank
  Jul 10, 2025 • RP-2526-005-S
  The PBO estimates that the Canada Infrastructure Bank (CIB) will disburse $14.9 billion by 2027-28, compared to its target of $35 billion by that year. By 2029-30, the CIB will disburse $20.7 billion. However, the CIB has already met its target of $1 billion for Indigenous investments.
• Economic and Fiscal Monitor – June 2025
  Jun 19, 2025 • RP-2526-004-S
  This report provides a real-time estimate of growth in Canada’s gross domestic product (GDP) and the Government of Canada’s budgetary balance in 2024-25 based on data released since our March 2025 Economic and Fiscal Outlook, up to and including 13 June 2025. All rates are reported at annual rates unless otherwise noted.
• Introducing GST rebates for first-time home buyers
  Jun 11, 2025 • RP-2526-001-S
  Bill C-4 (45th Parl. 1st Sess.) proposes to introduce a new GST rebate for first-time home buyers. This analysis provides our estimate of the cost of that proposal and outlines the underlying model. The underlying model is the same model used for Election Platform Costing Estimates [EL-45-1025502-P](https://www.pbo-dpb.ca/en/epc-estimates--estimations-cpe/45/EL-45-1025502-P) and [EL-45-1034656-P](https://www.pbo-dpb.ca/en/epc-estimates--estimations-cpe/45/EL-45-1034656-P).
• Modelling Other Excise Taxes and Duties
  Jun 9, 2025 • RP-2526-002-S
  This report outlines a model developed to project other excise tax and duty revenues as part of the Economic and Fiscal Outlook (EFO). It is intended to help Parliamentarians understand the components of other excise tax revenues and their impact on budgetary revenues.
• The Government’s Expenditure Plan and Main Estimates for 2025-26
  Jun 4, 2025 • RP-2526-003-S
  This report examines the federal government’s Expenditure Plan and Main Estimates for 2025-26, which supports the appropriation bill that seeks Parliament’s approval of $222.9 billion in budgetary authorities.