Close X
    Monday, December 2, 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

    Climate pledges risk making Canada 'outlier': CAPP

    Climate pledges risk making Canada 'outlier': CAPP
    Tim McMillan says that as Canada increases its environmental ambition at events such as this week's climate conference in Scotland, the federal government must work harder to bring the rest of the world along.

    Climate pledges risk making Canada 'outlier': CAPP

    B.C. woman who killed teen back on day parole

    B.C. woman who killed teen back on day parole
    Kelly Ellard, now 39 years old and the mother of two children, has returned to day parole after the privilege was revoked in August for what a Parole Board of Canada decision says were indications of drug and alcohol use.

    B.C. woman who killed teen back on day parole

    Pfizer says COVID-19 pill cut hospital, death risk by 90%

    Pfizer says COVID-19 pill cut hospital, death risk by 90%
    Currently most COVID-19 treatments require an IV or injection. Competitor Merck’s COVID-19 pill is already under review at the Food and Drug Administration after showing strong initial results, and on Thursday the United Kingdom became the first country to OK it.

    Pfizer says COVID-19 pill cut hospital, death risk by 90%

    Economy created 31K jobs in October, StatCan says

    Economy created 31K jobs in October, StatCan says
    Statistics Canada says the unemployment rate would have been 8.7 per cent in October, down from 8.9 per cent in September, had it not included in calculations Canadians who wanted to work but didn't search for a job.

    Economy created 31K jobs in October, StatCan says

    COVID-19 cases declining across Canada

    COVID-19 cases declining across Canada
    Tam welcomed the high level of vaccine coverage across Canada, and said some regions are seeing very low COVID-19 activity. But she warned regional differences in vaccine coverage could still create surges in months to come, even if the upswings could be less dramatic and wide-spread.

    COVID-19 cases declining across Canada

    Tam says border testing needs to be re-examined

    Tam says border testing needs to be re-examined
    Currently, anyone crossing into Canada needs to show a recent, molecular test that shows a negative result for COVID-19 in order to get into Canada. At a cost of $150 to $300 per test, that can be a pricey proposition, particularly for families

    Tam says border testing needs to be re-examined

    PrevNext