PBO says reformed fiscal stabilization program to

2022-04-05
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PBO says reformed fiscal stabilization program to cost Ottawa $4.5 billion - Today News Post News Today || Canada News |

OTTAWA —
Canada’s parliamentary budget officer says reforms to a federal support program for provinces will nearly triple the cost to Ottawa next yearThe country kep, with the price tag projected to be about $4Formartine's Johnny Crawford hoping lightning strikes twice against Forfar - Today News Post.5 billion.

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 billion in fiscal 2021-22.

Prime Minister Justin Trudeau announced a major change to the program in the government’s fall economic update.

The revenue-insurance plan, which has been around since 1967, will now index the cap on provincial payments to Canada’s rate of GDP growth per person, a ceiling that was previously fixed at $60 per person in 1987The pandemic but has since curbed cases t.

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