Breaking the Deficit Spending Cycle: Small Business Owners Calling for Fiscal Responsibility

The Government of Canada is grappling with the daunting fiscal reality of perpetual deficits and ballooning debt. As a result, the federal government must allocate an increasingly larger portion of its annual revenues to repay the debt.

Three out of four small business owners (74%) are concerned about the lack of a plan to achieve a balanced budget.

In this report, CFIB looks at the budgetary situation of the federal government since 2012/2013. We examine the federal government's recurring deficits and their impact on the federal debt which has almost doubled since 2012/2013. Additionally, we present business owners' preferred approaches to balancing the federal budget.