C.D. Howe Institute ‘shadow budget’ calls for tax hikes, spending restraint to reduce deficit spending
The Parliamentary Budget Officer is urging MPs to legislate a fixed deadline for the government to table an annual budget and says it is not necessary to delay this year’s spending plan because of the war in Ukraine.
Budgets are commonly released in February or March. Last year’s budget was tabled on April 19. The Liberal government delayed the 2020 budget at the onset of the COVID-19 pandemic and ultimately decided not to table one that year at all.the government weighs international requestsIn a statement to The Globe and Mail, Mr. Giroux said the government should table a budget and then update its spending plans later in the year through what are called supplementary estimates.
In an interview, he said the far more important question is what the budget should feature as a core philosophical focus. He acknowledges such decisions would be politically challenging. But he says politicians should be upfront with Canadians about the true costs of promises such as pharmacare, which he argues should be scaled back and not paid for with further borrowing.
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