US EditionOttawa's plan for GST relief set to cost $12.4 billion over 5 years, PBO says
The GST credit increase aims to assist over 12 million low- and modest-income Canadians with rising living costs, costing $12.4 billion over five years, the PBO said.
- The Office of the Parliamentary Budget Officer this morning found that Ottawa's GST relief plan will cost $12.4 billion over five years, slightly higher than initial projections.
- Starting in 2026/27, Prime Minister Mark Carney announced a 25 per cent GST credit increase and a spring benefit for over 12 million Canadians, costing $12.4 billion, according to the PBO.
- In its first year the benefit raises a family-of-four payment from $1,100 to $1,890 and increases the individual amount from $540 to $950, according to the PBO.
- The measures aim to help lower-income Canadians, and Carney said `The rise in food prices means that a lot of those Canadians need more support right now`,
- The PBO found its annual-cost figures edged above Ottawa's $8.6 billion projection, and Poilievre said his MPs will support the measure despite criticizing it.
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39 Articles
The government will spend money it didn't put in the budget
New GST Credit to Cost $12.4 Billion Over 6 Years: Budget Watchdog
Ottawa’s plan to increase the GST credit and offer a one-time payment to Canadians is projected to cost more than $12 billion over a span of six years, according to the Parliamentary Budget Officer. The Office of the Parliamentary Budget Officer (PBO) released a report on Feb. 2 predicting the program announced last month by Prime Minister Mark Carney will incur a cost of $12.4 billion from fiscal year 2025-2026 to 2030-2031. Carney last week pl…
Mark Carney has promised new affordability measures to help low-income consumers cope with the high cost of grocery products.
The Office of the Parliamentary Budget Officer published this estimate on Monday morning.
Ottawa’s plan for GST relief set to cost $12.4 billion over 5 years, PBO says
The government’s budget watchdog said Monday it expects the federal government’s plan to increase the GST credit and offer a one-time payment to Canadians will cost Ottawa an estimated $12.4 billion over five years
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