The federal government’s new Clean Fuel Regulations—set to take effect July 1 and reach full stringency in about seven years—will increase the cost of gas nationwide by an average of around 17 cents per litre by 2030 while also decreasing Canada’s GDP, says Parliamentary Budget Officer (PBO) Yves Giroux. The Clean Fuel Regulations (CFR) set new…
Ottawa’s New Fuel Regulations Will Increase Cost of Gas 17 Cents per Litre by 2030: PBO
Ottawa’s $798M in New ‘Non-Announced’ Spending Measures Concerning, Says PBO
Parliamentary Budget Officer (PBO) Yves Giroux says his office has some concerns about the nearly $800 million worth of new “non-announced” spending measures to be implemented over the next several years that were identified by the federal government in its most recent budget. Giroux told MPs on the House of Commons Standing Committee on Finance on…
Ending Tax Exemptions for Real Estate Investment Trusts Would Save Government Nearly $286M: PBO
A report by the Parliamentary Budget Officer (PBO) estimates that the federal government could collect nearly $286 million in additional tax revenues over the next five years if it cuts tax exemptions currently granted to Real Estate Investment Trusts (REITs) and instead brings them under the statutory corporate income tax rate. “We estimate that the federal…
Most Canadian Families Will See ‘Net Loss’ From Ottawa’s Carbon Tax: Parliamentary Budget Officer
Ottawa’s carbon tax will result in a “net loss” to most Canadian households even after they receive federal rebates, according to a report by the Parliamentary Budget Officer (PBO). “When both fiscal and economic impacts of the federal fuel charge are considered, we estimate that most households will see a net loss,” said PBO Yves…
Why Set up the PBO If the Government Won’t Use It?
March 15, 2023
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Commentary Victoria’s Parliamentary Budget Office’s (PBO) latest report (pdf) has revealed that the Labor government, who set it up, did not even use it to cost its 2022 election promises. The report notes that “There appears to be a disconnect between the Treasurer’s 2016 speech recommending the bill to parliament, in which he outlined his…
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