{"id":1030,"date":"2025-07-21T06:18:42","date_gmt":"2025-07-21T10:18:42","guid":{"rendered":"https:\/\/nscoesn-35e6c713fd-cxd2fma2bbh6g4df.z01.azurefd.net\/?p=1030"},"modified":"2025-11-28T15:12:56","modified_gmt":"2025-11-28T20:12:56","slug":"canadas-financial-stability","status":"publish","type":"post","link":"https:\/\/nscoesn.ca\/fr\/archives\/1030","title":{"rendered":"Canada&#8217;s financial stability"},"content":{"rendered":"<p>Financial stability is a pillar of national security.<\/p>\n\n\n\n<p>Canada\u2019s debt management strategy tabled by the Department of Finance is requesting to borrow $147 B for 2025\/26 (see table 1) and includes $30 B to fund purcases of Canada mortgage bonds.<sup data-fn=\"18e5807b-e40f-4dad-83f6-6a0ec5785306\" class=\"fn\"><a href=\"#18e5807b-e40f-4dad-83f6-6a0ec5785306\" id=\"18e5807b-e40f-4dad-83f6-6a0ec5785306-link\">1<\/a><\/sup><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1206\" height=\"1548\" src=\"\/wp-content\/uploads\/1030-1.jpg\" alt=\"\" class=\"wp-image-1032\" srcset=\"\/wp-content\/uploads\/1030-1.jpg 1206w, \/wp-content\/uploads\/1030-1-1197x1536.jpg 1197w, \/wp-content\/uploads\/1030-1-9x12.jpg 9w\" sizes=\"auto, (max-width: 1206px) 100vw, 1206px\" \/><\/figure>\n\n\n\n<p>This results in a $1.6 T market debt alone (see table 3).<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1206\" height=\"1539\" src=\"\/wp-content\/uploads\/1030-2.jpg\" alt=\"\" class=\"wp-image-1031\" srcset=\"\/wp-content\/uploads\/1030-2.jpg 1206w, \/wp-content\/uploads\/1030-2-1204x1536.jpg 1204w, \/wp-content\/uploads\/1030-2-9x12.jpg 9w\" sizes=\"auto, (max-width: 1206px) 100vw, 1206px\" \/><\/figure>\n\n\n\n<p>We remain curious to see what this does to the Canadian dollar and economy.<\/p>\n\n\n\n<p>With the GC already planning permanent position cuts over the next 3 fiscal years estimated at a total of almost $20 B,<sup data-fn=\"1fd34f47-450b-4800-af06-70c909ce0619\" class=\"fn\"><a href=\"#1fd34f47-450b-4800-af06-70c909ce0619\" id=\"1fd34f47-450b-4800-af06-70c909ce0619-link\">2<\/a><\/sup><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>26\/27 (7.5%);<\/li>\n\n\n\n<li>27\/28 (+2.5%, totaling 10%); and<\/li>\n\n\n\n<li>28\/29 (+5%, totaling 15%),<\/li>\n<\/ul>\n\n\n\n<p>plus executing job cuts this fiscal 25\/26 at various departments and agencies:<sup data-fn=\"e846fecd-096f-4df0-9059-fdc0be54b701\" class=\"fn\"><a href=\"#e846fecd-096f-4df0-9059-fdc0be54b701\" id=\"e846fecd-096f-4df0-9059-fdc0be54b701-link\">3<\/a><\/sup><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>ESDC (800 jobs at Service Canada, Passport);<\/li>\n\n\n\n<li>CRA (3000 jobs over the past few months including 280 permanent positions; last fiscal year 6656 jobs were cut);<\/li>\n\n\n\n<li>IRCC (unknown positions); and<\/li>\n\n\n\n<li>more that are not yet public plus job cuts from last year,<\/li>\n<\/ul>\n\n\n\n<p>coupled with:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>the number of homes for sale;<\/li>\n\n\n\n<li>US foreign policy volatility and US trade tariffs;<\/li>\n\n\n\n<li>the job market shrinking;<sup data-fn=\"c1a0c634-3a17-4c01-80bf-63a15f6244d0\" class=\"fn\"><a href=\"#c1a0c634-3a17-4c01-80bf-63a15f6244d0\" id=\"c1a0c634-3a17-4c01-80bf-63a15f6244d0-link\">4<\/a><\/sup><\/li>\n\n\n\n<li>the cuts to consultants;<\/li>\n\n\n\n<li>the impact to new university graduates for the next 4 years with unforgivable debt; and<\/li>\n\n\n\n<li>inflation which is likely to continue increasing,<\/li>\n<\/ul>\n\n\n\n<p>we wonder what this will do to our:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>housing market (in which rests the majority of Canadians retirement);<\/li>\n\n\n\n<li>general retirement investments (RRSPs and other cash);<\/li>\n\n\n\n<li>the value of CAD currency;<\/li>\n\n\n\n<li>insolvency rates across Canada; and<\/li>\n\n\n\n<li>the rest of the Canadian economy.<\/li>\n<\/ul>\n\n\n\n<p>Indeed, that was a long sentence!!<\/p>\n\n\n<ol class=\"wp-block-footnotes\"><li id=\"18e5807b-e40f-4dad-83f6-6a0ec5785306\">Released July 16, 2025 https:\/\/www.canada.ca\/en\/department-finance\/services\/publications\/debt-management-strategy\/2025-2026.html <a href=\"#18e5807b-e40f-4dad-83f6-6a0ec5785306-link\" aria-label=\"Aller \u00e0 la note de bas de page 1\">\u21a9\ufe0e<\/a><\/li><li id=\"1fd34f47-450b-4800-af06-70c909ce0619\">FinMin Champagne sent letters to the ministers, informing them of the next three fiscal year job cuts, https:\/\/cupe.ca\/carneys-cuts-threaten-services-and-jobs-help-our-communities-thrive <a href=\"#1fd34f47-450b-4800-af06-70c909ce0619-link\" aria-label=\"Aller \u00e0 la note de bas de page 2\">\u21a9\ufe0e<\/a><\/li><li id=\"e846fecd-096f-4df0-9059-fdc0be54b701\">https:\/\/psacunion.ca\/1100-jobs-cut-service-canada-and-cra-threatening <a href=\"#e846fecd-096f-4df0-9059-fdc0be54b701-link\" aria-label=\"Aller \u00e0 la note de bas de page 3\">\u21a9\ufe0e<\/a><\/li><li id=\"c1a0c634-3a17-4c01-80bf-63a15f6244d0\"><a href=\"https:\/\/www150.statcan.gc.ca\/n1\/daily-quotidien\/250404\/dq250404a-eng.htm\">https:\/\/www150.statcan.gc.ca\/n1\/daily-quotidien\/250404\/dq250404a-eng.htm<\/a> <a href=\"#c1a0c634-3a17-4c01-80bf-63a15f6244d0-link\" aria-label=\"Aller \u00e0 la note de bas de page 4\">\u21a9\ufe0e<\/a><\/li><\/ol>","protected":false},"excerpt":{"rendered":"<p>Financial stability is a pillar of national security. Canada\u2019s debt management strategy tabled by the Department of Finance is requesting to borrow $147 B for 2025\/26 (see table 1) and includes $30 B to fund purcases of Canada mortgage bonds. This results in a $1.6 T market debt alone (see table 3). We remain curious [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":1032,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","footnotes":"[{\"content\":\"Released July 16, 2025 https:\/\/www.canada.ca\/en\/department-finance\/services\/publications\/debt-management-strategy\/2025-2026.html\",\"id\":\"18e5807b-e40f-4dad-83f6-6a0ec5785306\"},{\"content\":\"FinMin Champagne sent letters to the ministers, informing them of the next three fiscal year job cuts, https:\/\/cupe.ca\/carneys-cuts-threaten-services-and-jobs-help-our-communities-thrive\",\"id\":\"1fd34f47-450b-4800-af06-70c909ce0619\"},{\"content\":\"https:\/\/psacunion.ca\/1100-jobs-cut-service-canada-and-cra-threatening\",\"id\":\"e846fecd-096f-4df0-9059-fdc0be54b701\"},{\"content\":\"<a href=\\\"https:\/\/www150.statcan.gc.ca\/n1\/daily-quotidien\/250404\/dq250404a-eng.htm\\\">https:\/\/www150.statcan.gc.ca\/n1\/daily-quotidien\/250404\/dq250404a-eng.htm<\/a>\",\"id\":\"c1a0c634-3a17-4c01-80bf-63a15f6244d0\"}]"},"categories":[20,21,24,26],"tags":[],"class_list":["post-1030","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-english-anglais","category-policy-politique","category-politics-politiques"],"_links":{"self":[{"href":"https:\/\/nscoesn.ca\/fr\/wp-json\/wp\/v2\/posts\/1030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nscoesn.ca\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nscoesn.ca\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nscoesn.ca\/fr\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/nscoesn.ca\/fr\/wp-json\/wp\/v2\/comments?post=1030"}],"version-history":[{"count":1,"href":"https:\/\/nscoesn.ca\/fr\/wp-json\/wp\/v2\/posts\/1030\/revisions"}],"predecessor-version":[{"id":1033,"href":"https:\/\/nscoesn.ca\/fr\/wp-json\/wp\/v2\/posts\/1030\/revisions\/1033"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nscoesn.ca\/fr\/wp-json\/wp\/v2\/media\/1032"}],"wp:attachment":[{"href":"https:\/\/nscoesn.ca\/fr\/wp-json\/wp\/v2\/media?parent=1030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nscoesn.ca\/fr\/wp-json\/wp\/v2\/categories?post=1030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nscoesn.ca\/fr\/wp-json\/wp\/v2\/tags?post=1030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}