Some federal government spending items outlined in this year’s budget and the 2022 Fall Economic Statement could be cut if economic pressures bring about “less fiscal room,” says Finance Minister Chrystia Freeland. Freeland made the comments at a press conference on Jan. 24 in Hamilton, Ont., where she is attending the Liberals’ post-holiday cabinet retreat,…
Some Government Spending Items Will be Cut if There’s ‘Less Fiscal Room’ in 2023, Freeland Says
January 25, 2023
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Eliminating Interest on Federal Student Loans Could Cost More Than Initial $2.7 Billion Price Tag: Report
A recent measure eliminating the interest on federal student and apprentice loans could cost more than the $2.7 billion price tag over the next five years that the Employment Department initially gave to a parliamentary committee, new figures show. The department wrote in an Inquiry Of Ministry recently tabled in the House of Commons that…
Repealing Federal Student Loan Interest Will Cost Over $550 Million Annually
Repealing federal student loan interest will cost over $550 million every year for as long as Ottawa’s plan to cut the interest continues into the future, says the Department of Employment. Senators on the national finance committee heard from witnesses on Nov. 22 about various costs associated with the government’s new spending measures outlined in the…
Workers Benefit to Cost More Than Double at $4 Billion Due to Ineligible Payments, Says PBO
The government’s increased Canada workers benefit (CWB) is set to cost more than double at about $4 billion, and a large reason for the high expenditure is because the benefit will be released to many Canadians who are no longer eligible for it, says Parliamentary Budget Officer (PBO) Yves Giroux. The CWB is a refundable…
Freeland Sees ‘Moment of Real Optimism’ With Fall Economic Statement
OTTAWA—The government’s Fall Economic Statement (FES) painted an improving picture for Ottawa’s fiscal position and a return to black ink even with added targeted support measures for Canadians hurting from elevated inflation. The FES is the government’s fall mini-budget and under the government’s base case official projection, which assumes the economy narrowly avoids a recession,…
Freeland Warns of Recession, Sees Potential Return to Black for Feds’ Books
OTTAWA—The government’s Fall Economic Statement (FES) on Nov. 3 announced $30 billion in more spending, yet despite warning of an impending recession, its main projection shows an improving fiscal picture and a potential return to black ink. The FES is the government’s fall mini-budget. Under the government’s base-case official projection, which assumes the economy narrowly…
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