Close X
Wednesday, November 27, 2024
ADVT 
National

Spending tied to COVID-19 set to drop sharply: PBO

Darpan News Desk The Canadian Press, 10 Mar, 2021 05:52 PM
  • Spending tied to COVID-19 set to drop sharply: PBO

Parliament's budget watchdog says the portion of federal spending related to COVID-19 is set to drop by 86 per cent in the coming fiscal year compared to 2020-21, as Canada transitions away from emergency pandemic measures.

The government is planning $22.7 billion in COVID-19-related spending over the coming year, versus an estimated $159.5 billion to date, according to a new report from parliamentary budget officer Yves Giroux.

Part of the decline relates to a projected plunge in relief spending for individuals.

In 2020-21, an estimated $122 billion flowed to Canadians via labour market supports such as the emergency response benefit, the recovery benefit and enhanced employment insurance, the report states.

The comparable figure for 2021-22 is less than $43 billion, reflecting a gradual phaseout of aid measures.

The report is based on estimates tabled in Parliament last month and does not factor in the coming budget, which may not be introduced until April.

Of the $342.2 billion outlined in the 2021-22 estimates, roughly one in every five dollars is earmarked for monthly payments to Canadian seniors, amounting to $62.4 billion in elder benefits. The benefits are indexed to inflation.

The Canada Health Transfer, indexed to GDP growth, comprises the second-largest component of federal spending, amounting to $43.1 billion to help provinces and territories to help pay for health care.

Parliament must approve government spending through a process called the estimates, with the main estimates — brought forward on Feb. 27 — providing base funding for all departments.

The estimates show the Finance Department budget is slated to shrink by 13 per cent to $103.8 billion and the budget for Employment and Social Development Canada by more than half to $82.4 billion. Public Health Agency of Canada budget is estimated at $8.8 billion, down $21 billion last year.

Of the $342.2 billion outlined in the estimates, $141.9 billion requires House of Commons approval via a pair of appropriation bills.

MORE National ARTICLES

Trump words on Meng a 'salvo' in trade war: lawyer

Trump words on Meng a 'salvo' in trade war: lawyer
Meng was arrested at Vancouver's airport on Dec. 1, 2018, at the request of U.S. officials on charges of fraud that both she and Huawei deny.

Trump words on Meng a 'salvo' in trade war: lawyer

Ottawa budgets $5B to buy COVID-19 pharmaceuticals

Ottawa budgets $5B to buy COVID-19 pharmaceuticals
Canada is guaranteed to buy more than 240 million doses of seven different vaccines if all are approved, with only 6.5 million doses expected before the end of March.

Ottawa budgets $5B to buy COVID-19 pharmaceuticals

BC Ferries offers lower prices for main routes in the Lower Mainland

BC Ferries offers lower prices for main routes in the Lower Mainland
The new Saver fare is the most affordable fare choice. Saver fares range from $49 - $73.70 and include a free reservation.

BC Ferries offers lower prices for main routes in the Lower Mainland

Robbery suspect leaves his wallet behind: VPD

Robbery suspect leaves his wallet behind: VPD
When he pulled out his phone to make a call, a man ran by and allegedly grabbed it from his hands.

Robbery suspect leaves his wallet behind: VPD

Protesters blocks busy Vancouver intersection

Protesters blocks busy Vancouver intersection
A police spokesman says the group marched from the courthouse to the east Vancouver intersection late Tuesday following the sentencing.

Protesters blocks busy Vancouver intersection

PM signals support for Diab as he faces trial

PM signals support for Diab as he faces trial
France recently ordered Hassan Diab to stand trial for a decades-old synagogue bombing in Paris, a move his lawyer called the latest misstep in a long odyssey of injustice.

PM signals support for Diab as he faces trial