OTTAWA— 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.
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.
remaining $666 million will flow out under a program targeting hard-hit companies in the tourism and hospitality sector.
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.
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.
Liberals want the bill, known as C-2, to get approval before parliamentarians go on their winter break at the end of next week.
Pezou : Liberals’ Wage Subsidy Extension to Push Program Costs to $107 Billion, PBO Says