OTTAWA—Canada’s top military procurement official says there are no plans to change directions on the construction of a fleet of new Navy warships despite a recent warning about escalating costs from Parliament’s budget watchdog. In an exclusive interview with The Canadian Press, Troy Crosby, the assistant deputy minister of materiel at the Department of National…
PBO Sees $363 Billion Deficit, Warns of Pitfalls From Liberals’ Promised Stimulus
OTTAWA—Parliament’s spending watchdog says the federal response to the COVID-19 pandemic should send the deficit to $363.4 billion. In a report this morning, budget officer Yves Giroux says the deficit should fall over time as emergency spending measures wind down over the next 12 months. The economy too is faring better than Giroux anticipated, and…
PBO’s Latest Estimate Says Warships Will Cost $77B as Estimated Price Jumps $17B
February 24, 2021
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15 warshipsCanadaCanada PBOmultibillion-dollar increaseParliament's budget watchdogParliamentary budget officerPBORoyal Canadian NavyWorldYves Giroux
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OTTAWA—Parliament’s budget watchdog is predicting another multibillion-dollar increase in the cost of a new fleet of warships for the Royal Canadian Navy, pegging the price for what was already the largest military procurement in Canada’s history at more than $77 billion. Parliamentary budget officer Yves Giroux’s latest estimate is $17 billion more than the government’s…
Jordan’s Principle Order May Cost Feds $15 Billion in Compensation, PBO Says
OTTAWA—The parliamentary budget office says it could cost the federal government up to $15 billion to compensate First Nations families and children impacted by the child welfare system, as well as denials or delays of essential services. The figure updates the budget office’s initial estimate to include thousands more children, parents and grandparents who would…
Liberals’ Two Billion Trees Promise to Cost $2.78 Billion More Than Planned, PBO Says
OTTAWA—The parliamentary budget office says a pledge by the Trudeau Liberals to plant two billion trees could cost almost double what the government says. The tree-planting spree, spread over a decade, is supposed to start in the spring and cost $3.16 billion over that time, based on federal estimates. Getting to the 2030 target means…
PBO Says Reformed Fiscal Stabilization Program to Cost Ottawa $4.5 Billion
January 20, 2021
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CanadaCanada economyCanada's parliamentary budget officerPBOreformed fiscal stabilization programWorldYves Giroux
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OTTAWA—Reforms to a federal support program for provinces will nearly triple the cost to Ottawa next year, with the price tag projected to be about $4.5 billion, says Canada’s parliamentary budget officer. Yves Giroux says the government’s fiscal stabilization program, which transfers cash to provinces that experience steep year-over-year revenue drops, will increase by $2.9…
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