Close X
    Friday, November 29, 2024
    ADVT 
    National

    PBO report questions need for stimulus spending

    Darpan News Desk The Canadian Press, 19 Jan, 2022 11:16 AM
    • PBO report questions need for stimulus spending

    OTTAWA - The parliamentary budget officer is questioning whether the federal Liberals need to spend tens of billions in planned stimulus.

    In a report this morning, Yves Giroux says the federal guardrails designed to guide spending decisions appear to have been met, suggesting any stimulus should be wound down before the fiscal year ends in March.

    Giroux says the rationale for the planned stimulus of up to $100 billion no longer exists.

    His report this morning on federal finances also says the government has spent or planned to spend $541.9 billion in new measures, almost one-third of which are not related to COVID-19.

    While the government is projecting a better-than-expected deficit this year, Giroux's office says the actual results may be worse than the $144.5 billion deficit outlined in Finance Minister Chrystia Freeland's budget update in December.

    The Liberals still have some planned spending related to their bevy of campaign promises, which the PBO estimates would amount to $48.5 billion in net new spending over the next five years.

     

    Prev Next

    MORE National ARTICLES

    VPD investigates multiple stabbings in Yaletown

    VPD investigates multiple stabbings in Yaletown
    The five victims, all men from Surrey and Langley, suffered a variety of stab wounds, including injuries to their faces, stomachs, backs, and legs. The injuries are not life-threatening. Two suspects in their 30s, also men from Surrey, have been identified but are not currently in custody.    

    VPD investigates multiple stabbings in Yaletown

    Revenues up, deficit down in pre-flood B.C. update

    Revenues up, deficit down in pre-flood B.C. update
    Selina Robinson says the province will factor in the cleanup costs associated with the disastrous floods and mudslides that hit communities, highways and railways in February's budget.

    Revenues up, deficit down in pre-flood B.C. update

    Another rainstorm expected to hit Canada's British Columbia

    Another rainstorm expected to hit Canada's British Columbia
    Environment Canada also warned of heavy snow in inland parts of the province on Sunday, saying that the snow could change to heavy rain as the temperature rises.

    Another rainstorm expected to hit Canada's British Columbia

    Calgary rugby player named as B.C. mudslide victim

    Calgary rugby player named as B.C. mudslide victim
    Last Monday, as flooding and mudslides ravaged British Columbia, Dean Hopkins got a distraught call from his close friend's wife, saying her husband was missing. That phone call kicked off several stress-filled days for Hopkins, which ended in tragedy when his old rugby buddy Steven Taylor was confirmed dead.    

    Calgary rugby player named as B.C. mudslide victim

    Keep wasted COVID-19 shots under 5 per cent: PHAC

    Keep wasted COVID-19 shots under 5 per cent: PHAC
    The Public Health Agency of Canada says it hopes to keep the number of wasted doses of COVID-19 vaccines in Canada under five per cent. That would amount to 3.7 million of the 73.7 million vaccines that have been distributed to provinces and territories, used by the federal government or held in the central vaccine inventory as of Nov. 18.

    Keep wasted COVID-19 shots under 5 per cent: PHAC

    Liberals set mid-Dec. deadline for aid approval

    Liberals set mid-Dec. deadline for aid approval
    Government House leader Mark Holland said a bill to approve billions in new aid for businesses still hurting from COVID-19 is one of four pieces of legislation the Liberals want passed by the middle of next month.

    Liberals set mid-Dec. deadline for aid approval

    PrevNext