(OTTAWA) The Government of Canada failed to spend an estimated $38 billion last fiscal year on promised programs and services, including new military equipment and support for veterans.
Federal departments blame a variety of factors for their inability to spend this record total in fiscal year 2021-22, including delays and disruptions caused by the COVID-19 pandemic. They point out that a large part of the money remains available for the years to come.
Unspent funds also played a significant role in the Liberal government posting a lower-than-expected deficit in the year ending March 31, 2022.
But the unprecedented amount of lapsed funds is also seen as a sign of serious and long-standing challenges to completing major federal projects for the country.
The amount of government-wide lapsed funds is specified in most iterations of the public accounts.
The federal revenue and expenditure report for each department and agency is tabled each year in the House of Commons.