愛污传媒

Skip to main content

Boosting Canadian seniors' benefits would cost a 'chunk of change,' says PBO

Share

Canada鈥檚 budget watchdog says the federal government may not meet its fiscal anchors if it acquiesces to the Bloc Qu茅b茅cois鈥 demand to expand seniors benefits in exchange for keeping the minority Liberals in power.

Last week, Bloc leader Yves-Fran莽ois Blanchet confirmed his party will vote against a Conservative non-confidence motion set to take place this week, giving the Liberals enough support to avoid an imminent election.

In return, Blanchet is pushing Prime Minister Justin Trudeau's government 鈥 through a private member鈥檚 bill 鈥 to expand the government鈥檚 increase in Old Age Security (OAS) payments to pensioners aged 65 to 74. The Liberals had announced an increase of 10 per cent in OAS payments in 2022, but only to those aged 75 years and older.

鈥淲e have deposed a law which is now at the very centre of the survival of this government. This is what we call power,鈥 Blanchet told reporters on Thursday.

But in an interview with Vassy Kapelos on CTV鈥檚 Power Play Monday evening, Parliamentary Budget Officer Yves Giroux said a further expansion would be a pricey commitment for the federal government. He calculates the Bloc鈥檚 demand would come with an annual price-tag of more than $3 billion, with a total cost of $16.1 billion over five years.

鈥淚t would also be a bit tricky to make that fit within the fiscal framework that the government has indicated itself in the last budget. . . that would be a significant chunk of change, to say the least,鈥 Giroux told Kapelos. He referred to the government鈥檚 targets to keep the deficit below $40.1 billion this fiscal year and reduce both the debt-to-GDP ratio and deficit-to-GDP ratio in 2024-2025. In addition, the government aims to keep deficits to one per cent of GDP by 2026-2027.

鈥淎ll these constraints would be at severe risk if the government was to acquiesce to that demand without cutting expenditures elsewhere,鈥 he said.

Deputy Prime Minister and Finance Minister Chrystia Freeland was asked Tuesday about the Bloc鈥檚 demand and whether the federal government can afford that expense. Freeland would only say 鈥渃onversations are ongoing.鈥

鈥淲e are having good conversations about all possible economic measures with both the Bloc and the NDP,鈥 Freeland said.

You can watch CTV Power Play鈥檚 full interview with Parliamentary Budget Officer Yves Giroux in the video player at the top of this article. 

IN DEPTH

Opinion

opinion

opinion Don Martin: How a beer break may have doomed the carbon tax hike

When the Liberal government chopped a planned beer excise tax hike to two per cent from 4.5 per cent and froze future increases until after the next election, says political columnist Don Martin, it almost guaranteed a similar carbon tax move in the offing.

CTVNews.ca Top Stories

Police have confirmed the body of an employee who died at a Walmart in Halifax over the weekend was found in a walk-in oven.

At least seven large-scale butter thefts have been reported in Guelph, Ont. over a 10-month period, including two hauls in just the last month.

Quebec Premier Francois Legault promised on Tuesday to toughen secularism measures in schools, saying he was 'shocked' by revelations about a Montreal public school where a group of teachers had tried to introduce what the premier described as 'Islamist' beliefs.

Local Spotlight

Residents of Ottawa's Rideauview neighbourhood say an aggressive wild turkey has become a problem.

A man who lost his life while trying to rescue people from floodwaters, and a 13-year-old boy who saved his family from a dog attack, are among the Nova Scotians who received a medal for bravery Tuesday.

A newly minted Winnipegger is hoping a world record attempt will help bring awareness for the need for more pump track facilities in the city.

A Springfield, Ont. man is being hailed a 'hero' after running into his burning home to save his two infant children.

Hortense Anglin was the oldest graduate to make her way across the platform at York University's Fall Convocation ceremony this week. At the age of 87, she graduated with an Honours degree in Religious Studies.

Looking for a scare with good intentions this Halloween season? The ghosts and ghouls of Eganville, Ont. invite families to tour the Haunted Walk at Lekbor Manor.

The image of a sleepy Saskatchewan small town with 'not a lot going on' is a well-known anecdote. However, one Saskatchewan company is hoping to change that 鈥 and allow communities both on and off the beaten path to share their stories and advertise what they have to offer.

A Moncton, N.B., home has been donated to the Friends of The Moncton Hospital Foundation and will be transformed into a resource hub for people living with cancer.

A Nova Scotia man crossing Canada on foot is passing through southwestern Ontario. Trevor Redmond is perhaps better known as the 鈥楩ellow in Yellow.鈥

Stay Connected