Fall economic statement does not mention budget cuts, says Parliamentary Budget Officer – National | PKBNEWS

Parliamentary Budget Officer Yves Giroux says the federal government failed to show fiscal discipline in its recent fall economic statement.

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

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

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Ottawa revenue up $32.8 billion for the first 6 months of the fiscal year compared to last year

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

Giroux said spending so much is not “keeping your powder dry”, referring to remarks by Finance Minister Chrystia Freeland when she presented the mini-budget.

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Giroux also raised the issue of transparency in government finances, citing $14.2 billion in new measures for which the government did not provide specific details.

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