Liberals did not show fiscal restraint in fall update: parliamentary budget officer

OTTAWA — Parliamentary budget officer Yves Giroux says the federal government did not show fiscal restraint in its recent fall economic statement.

Giroux told MPs at a House of Commons finance committee that the federal government is spending a significant portion of the new fiscal room it has this year.

High inflation and the COVID-19 recovery have boosted government revenues, resulting in a lower-than-projected federal deficit. 

But the Liberals have earmarked $52.2 billion in new spending out of the $81.2 billion in new fiscal room since their spring budget.