Archive: October, 2012

Economic and Fiscal Outlook Update and An Assessment of Canada’s Labour Market Performance released

IR0080 - Compliance Status Summary as of October 26, 2012

The Parliamentary Budget Officer (PBO)  released a new report entitled "Fiscal Sustainability Report 2012" (on the Web site at www.pbo-dpb.gc.ca).

This report provides PBO’s assessment of the sustainability of government finances by sector (i.e., federal and provincial-territorial-local governments as well as the Canada and Quebec Pension Plans) over the long term.

The report presents estimates of recent policy changes (to the Canada Health Transfer, departmental spending and the Old Age Security program) on the fiscal sustainability of the federal and provincial-territorial-local government sectors. The report also includes a sensitivity analysis that considers different fiscal policy assumptions as well as alternative demographic and economic projections.

For additional information please contact our office at 613-992-8026.

Concerns have recently been raised about the scope of the Parliamentary Budget Officer’s (PBO) legislative mandate. When the PBO obtained a legal opinion on his power of direct request, it was not apparent his mandate would also be challenged. While early in his term, the PBO received legal advice on his mandate’s scope and has been acting accordingly, these fresh challenges have prompted him to seek a comprehensive legal opinion. The PBO will not take any further action prior to receiving this opinion, which will be released as soon as possible. At the same time, the PBO continues to be open to communications with officials from the Privy Council Office regarding the provision of the requested information for Parliament.

IR0080 - Granted extension letter and distribution list

Information Request IR0080 sent to Deputy Ministers and equivalents on April 12, 2012, May 9, 2012 and October 2, 2012 requesting information with respect to Budget 2012 - particularly with respect to the savings and reduction measures.