By Canadian Press

Liberals’ wage subsidy extension to push program costs to $107 billion, PBO says

Dec 9, 2021 | 8:07 AM

OTTAWA — The parliamentary budget officer says the federal government’s plan to extend its wage subsidy will push the overall price for the program to almost $106.7 billion.

The budget officer’s report released this morning estimates that the majority, about $4.8 billion, in subsidies will flow to businesses that continue to see a steep, and persistent drop in revenues.

The remaining $666 million will flow out under a program targeting hard-hit companies in the tourism and hospitality sector. 

The Liberals are proposing to extend pandemic aid to still-hurting businesses and provide a $300-a-week benefit to workers subject to a lockdown as part of a $7.4 billion aid bill before the House of Commons. 

Finance Minister Chrystia Freeland is scheduled to testify about the legislation during an appearance this morning at the finance committee.

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Freeland’s appearance is scheduled for two hours, which was part of an agreement with opposition parties to fast-track the aid bill through the House of Commons.

The Liberals want the bill, known as C-2, to get approval before parliamentarians go on their winter break at the end of next week. 

This report by The Canadian Press was first published Dec. 9, 2021.

The Canadian Press