This note presents a detailed analysis of the Government’s first Supplementary Estimates for the 2021-22 fiscal year, which seeks Parliament’s approval of $24.0 billion.
This report provides an assessment of the impact of Budget 2021 measures on PBO’s pre-budget economic and fiscal outlook.
This report is in response to a request by Members of Parliament Leah Gazan (Winnipeg Centre) and Lindsay Mathyssen (London-Fanshawe) to examine the cost of a set of post-secondary education measures outlined in Private Member’s Motion M-75, Implementation of a Post-secondary Student Relief Package.
Several parliamentarians expressed interest in a PBO analysis, in both dollar and per-capita terms, of provincial/territorial health care funding and funding for First Nations and Inuit by Indigenous Services Canada through the First Nations and Inuit Health Branch.
This report provides an analytical overview of federal and provincial/territorial government health spending for the First Nations and Inuit population. It does not attempt to establish a spending gap between federal government health spending for First Nations and Inuit and provincial/territorial government health spending for all residents of Canada.
To assist parliamentarians in their budgetary deliberations, this report highlights key issues arising from Budget 2021.
This report examines the current and projected status of the Canada Infrastructure Bank’s investment commitments and funding disbursements.
This report estimates the federal corporate income tax revenues that would be generated if an additional 15 percent tax rate was applied to excessive profits earned by big firms in 2020.
Several parliamentarians requested that the PBO prepare a distributional analysis of Guaranteed Basic Income using parameters set out in Ontario’s basic income pilot project, examine the impact across income quintiles, family types and gender, and identify the net federal revenue increase required to offset the net cost of the new program. This analysis also accounts for the behavioural response.
This report updates PBO’s September 2020 Economic and Fiscal Outlook in advance of Budget 2021.
This report provides a reconciliation of the assessments of the sustainability of the Canada Pension Plan prepared by the Office of the Chief Actuary and the Parliamentary Budget Officer.
Waiving the waiting period for EI beneficiaries who establish a new claim between January 31, 2021, and September 25, 2021. This includes claims for regular, fishing, and special benefits and will allow people who apply during that period and return to work before exhausting all their weeks of entitlement to benefit from an additional week of income support. The maximum number of weeks of benefits will not change.
Maintaining uniform access to EI regular and special benefits across all regions, through a 420-hour entrance requirement, with a 14-week minimum entitlement for regular benefits, and a new common earnings threshold for fishing benefits. This measure is assumed to come into force on September 26, 2021 and last for one year.
Modifying federal student financial assistance, including support under the Canada Student Loans Program (CSLP).
Broadening access to the CWB by increasing the phase-in rates and thresholds, as well as providing greater financial incentive for working couples.
Provide eligible employers with a subsidy of up to 50 per cent on the incremental remuneration paid to eligible employees between June 6, 2021 and November 20, 2021. Employers must choose between the Canada Emergency Wage Subsidy (CEWS) or the Canada Recovery Hiring Program (CRHP).
In Budget 2021 the Government of Canada proposed to increase the maximum number of weeks for which employment insurance sickness benefits may be paid due to a prescribed illness, injury, or quarantine to 26 weeks from 15 weeks. The extension is planned to come into effect summer 2022.
Implementation of a new corporate income tax for companies offering digital services. The tax will take effect January 1, 2022. This measure is temporary and will only apply in the event that Canada does not reach a multilateral agreement on the taxation of digital services.
It will be a 3% tax on revenues collected by online marketplaces, social media, online advertising services, and user data sales and licensing services. This tax will apply to businesses with worldwide revenues of at least €750 million and Canadian revenues of more than $20 million.
Introducing financial support for oil and gas companies to reduce methane emissions.
The Emissions Reduction Fund (ERF) – Onshore will offer up to $675 million in contributions to support capital projects that lower or eliminate routine venting of methane oil and gas operations. The overall ERF includes a further $75 million for offshore oil and gas operations, which is outside the scope of the analysis.
Bill C-265 proposes to increase the maximum number of weeks for which employment insurance sickness benefits may be paid due to a prescribed illness, injury, or quarantine to 50 weeks from 15 weeks. The extension is planned to come into effect summer 2022.
The corporate income tax (CIT) rate on eligible zero-emission technology manufacturing and processing activities will be reduced in half. This will reduce the CIT rate on small businesses from 9 to 4.5 per cent and the general CIT rate from 15 to 7.5 per cent. The rate reduction will apply to taxation years that begin after 2021 and before 2031 (gradually phasing out between 2029 and 2031).