Jason Stanton

Publications récentes

{"id":"RP-2223-025-S","is_published":"2023-03-02T13:57:04.000000Z","release_date":"2023-03-02T14:00:00.000000Z","updated_at":"2023-03-02T13:57:04.000000Z","type":"RP","internal_id":"RP-2223-025-S","title_en":"Economic and Fiscal Outlook \u2014 March 2023","title_fr":"Perspectives \u00e9conomiques et financi\u00e8res \u2014 Mars 2023","slug":"RP-2223-025-S--economic-fiscal-outlook-march-2023--perspectives-economiques-financieres-mars-2023","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2223-025-S--economic-fiscal-outlook-march-2023--perspectives-economiques-financieres-mars-2023","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2223-025-S--economic-fiscal-outlook-march-2023--perspectives-economiques-financieres-mars-2023"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2223-025-S--economic-fiscal-outlook-march-2023--perspectives-economiques-financieres-mars-2023","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2223-025-S--economic-fiscal-outlook-march-2023--perspectives-economiques-financieres-mars-2023"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/b91ed5d0fe5c8c8cbd7f4267be3aea5259b91fe8f6f48431bc565b2e280771cf"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/d712dda84b04c6449721fb3f4cb6b75abbbeee3d478b3ec9a3da6d1493a2ea40"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/89a6bae7810083bf1412af79096a587a43828ccda79d196c5b1861ca8327a1f7","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/8bfd3dfc68c618671e3d50e1a9643091de164fa07d75e7053045f36dba5c1d07","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a2ea4aa1f1288a4ae5b1e4eb87efdb2a2580ecfdded631eeee1029810e0b55e5","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f0dfa56cfbb35df9706fae0f992ff8bbf4db9c896b118cb7ac8bd58e46b8d911","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e952dbe60316dd3f1dba81e0bcf583f50e55cd2d03c9e23bf1a35e8961c29297","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/fa1727a263a3f7cf130e37ae86303c6c1b6d64517ce4c686dbff9c225c81226b","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4c747d4fc97d53b61e8645d4548e58344c96b177ca4e8296e8e41c27923470dd","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d7f5034323f7d43dfc6612441f1f47d065ef6d4cc474ee6852470619163b6444"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/06b0bd214b776391e2f7933ab4ea62150223671502b22216b4ffeed322039308","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/ae2d39c7bd531e0cd1cb56f77b68b0b71f4b40e2bac8da0c38c70a4421db3525","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e4c9739dc952f334f1ea353fc6909ee91550e415b0cb8352180bb75715cc19e2","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/47e2c3a6b39e5a38ff80ff5f9cd929bce1d2815d5c281c57c6b07afb1e025d96","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/09b9a1feb4ff88bc26fa95ed07dcf1a37a0d2f1454fe55b6710e81d7702e16b4","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/877b35d507633ecc898443bb72f9df983cb9e02fde7faa20088a56f7c98b61a8","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e0573bfbb576baa6bf96d81618ddee7aa4be2b68cff4b65b7b1ce2900a0bbf88","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/80485e6ad949ae3a7ceaef99875bb88d9746759e6ed5680e2b50d37e1e090068"}}},"metadata":{"abstract_en":"This report provides a baseline projection to help parliamentarians gauge potential economic and fiscal outcomes under current policy settings.","abstract_fr":"Ce rapport pr\u00e9sente une projection de r\u00e9f\u00e9rence pour aider les parlementaires \u00e0 \u00e9valuer les r\u00e9sultats \u00e9conomiques et financiers possibles dans le cadre des politiques actuelles.","highlights":[{"content":{"en":"Following a stronger-than-expected performance in the second half of 2022, PBO projects the Canadian economy to stagnate through 2023. As the tightening of monetary policy takes hold, we expect a further decline in residential investment and weakness in consumer spending in the first half of this year.","fr":"Apr\u00e8s que l\u2019\u00e9conomie canadienne ait affich\u00e9 une performance plus \u00e9lev\u00e9e que pr\u00e9vu lors du deuxi\u00e8me semestre de 2022, le directeur parlementaire du budget (DPB) s\u2019attend \u00e0 ce qu\u2019elle stagne jusqu\u2019en 2023. \u00c0 mesure que le resserrement de la politique mon\u00e9taire se concr\u00e9tise, nous pr\u00e9voyons de nouvelle baisse de l\u2019investissement r\u00e9sidentiel et une faiblesse des d\u00e9penses de consommation au cours de la premi\u00e8re moiti\u00e9 de l\u2019ann\u00e9e."}},{"content":{"en":"PBO expects the Bank of Canada to maintain its \u201cpause\u201d, holding the policy interest rate at 4.5 per cent, through December of this year. With CPI inflation solidly on track to return to its 2 per cent target, we then expect the Bank to start lowering its policy rate in January 2024, returning the rate to its estimated neutral level of 2.5 per cent in December 2024.","fr":"Le DPB s\u2019attend \u00e0 ce que la Banque du Canada observe sa \u00ab\u2009pause\u2009\u00bb, en maintenant le taux directeur \u00e0 4,5 % jusqu\u2019\u00e0 la fin du mois de d\u00e9cembre de cette ann\u00e9e. Puisque l\u2019inflation de l\u2019indice des prix \u00e0 la consommation (IPC) est en voie de revenir \u00e0 sa cible de 2 %, nous pr\u00e9voyons que la Banque commencera \u00e0 r\u00e9duire son taux directeur en janvier 2024, puis le ram\u00e8nera \u00e0 son niveau neutre estim\u00e9 de 2,5 % en d\u00e9cembre 2024."}},{"content":{"en":"For the current fiscal year, 2022-23, PBO projects the budgetary deficit to be $36.5 billion (1.3 per cent of GDP) under status quo policy. Assuming no new measures and existing temporary measures sunset as scheduled, the deficit is projected to increase to $43.1 billion (1.5 per cent of GDP) in 2023-24 before resuming its downward trajectory, falling to $8.7 billion (0.3 per cent of GDP) in 2027-28.","fr":"Pour l\u2019exercice en cours de 2022-2023, le DPB pr\u00e9voit un d\u00e9ficit budg\u00e9taire de 36,5 milliards de dollars (1,3 % du PIB) selon une politique de statu quo. En supposant qu\u2019il n\u2019y ait pas de nouvelles mesures et que les mesures temporaires existantes prennent fin comme pr\u00e9vu, le d\u00e9ficit devrait augmenter \u00e0 43,1 milliards de dollars (1,5 % du PIB) en 2023-2024 avant de reprendre sa trajectoire descendante, chutant \u00e0 8,7 milliards de dollars (0,3 % du PIB) en 2027-2028."}},{"content":{"en":"Under status quo policy, PBO projects the federal debt-to-GDP ratio to decline to 41.8 per cent in 2022-23 and then to temporarily rise to 42.2 per cent in 2023-24. Assuming no new measures and existing temporary measures sunset as scheduled, the federal debt ratio is projected to fall to 38.1 per cent in 2027-28 but remain above its pre-pandemic level of 31.2 per cent of GDP in 2019-20.","fr":"Selon une politique de statu quo, le DPB pr\u00e9voit que le ratio de la dette f\u00e9d\u00e9rale au PIB diminuera \u00e0 41,8 % en 2022-2023, puis qu\u2019il remontera temporairement \u00e0 42,2 % en 2023-2024. En supposant qu\u2019aucune nouvelle mesure ne soit prise et que les mesures temporaires existantes prennent fin comme pr\u00e9vu, le ratio de la dette f\u00e9d\u00e9rale devrait diminuer \u00e0 38,1 % en 2027-2028. Cependant, il devrait rester sup\u00e9rieur \u00e0 son niveau pr\u00e9-pand\u00e9mique, qui \u00e9tait de 31,2 % du PIB en 2019-2020."}},{"content":{"en":"PBO projects the debt service ratio (that is, public debt charges relative to tax revenues) under status quo policy will peak at 11.5 per cent in 2023-24 and then decline gradually to 10.3 per cent in 2027-28\u2014two percentage points above its pre-pandemic low of 8.3 per cent in 2018 19.","fr":"Le DPB projette que le ratio du service de la dette (c\u2019est-\u00e0-dire les charges de la dette publique par rapport aux recettes fiscales) culminera \u00e0 11,5 % en 2023-2024 selon une politique de statu quo. Ensuite, il diminuera progressivement pour s\u2019\u00e9tablir \u00e0 10,3 % en 2027-2028, soit deux points de pourcentage de plus que le niveau le plus bas enregistr\u00e9 avant la pand\u00e9mie, \u00e0 savoir 8,3 % en 2018 2019."}}]},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2223025S,\n author={Nahornick, Nora and Nicol, Caroline and Stanton, Jason and Ammar, Nasreddine and Barkova, Lisa and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Dong, Matt and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Vanderwees, Kaitlyn},\n title={Economic and Fiscal Outlook \\textemdash March 2023},\n institution={The Office of the Parliamentary Budget Officer},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2223025S,\n author={Nahornick, Nora and Nicol, Caroline and Stanton, Jason and Ammar, Nasreddine and Barkova, Lisa and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Dong, Matt and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Vanderwees, Kaitlyn},\n title={Perspectives \\\u0027{e}conomiques et financi\\`{e}res \\textemdash Mars 2023},\n institution={Bureau du directeur parlementaire du budget},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}"}} {"id":"RP-2223-021-S","is_published":"2022-11-15T13:57:08.000000Z","release_date":"2022-11-15T14:00:00.000000Z","updated_at":"2022-11-15T17:28:25.000000Z","type":"RP","internal_id":"RP-2223-021-S","title_en":"Fall Economic Statement 2022 \u2014 Issues for Parliamentarians","title_fr":"\u00c9nonc\u00e9 \u00e9conomique de l\u2019automne 2022 \u2014 Enjeux pour les parlementaires","slug":"RP-2223-021-S--fall-economic-statement-2022-issues-parliamentarians--enonce-economique-automne-2022-enjeux-parlementaires","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2223-021-S--fall-economic-statement-2022-issues-parliamentarians--enonce-economique-automne-2022-enjeux-parlementaires","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2223-021-S--fall-economic-statement-2022-issues-parliamentarians--enonce-economique-automne-2022-enjeux-parlementaires"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2223-021-S--fall-economic-statement-2022-issues-parliamentarians--enonce-economique-automne-2022-enjeux-parlementaires","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2223-021-S--fall-economic-statement-2022-issues-parliamentarians--enonce-economique-automne-2022-enjeux-parlementaires"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/4d3511f67746dce4f575f967ee8300b2d9cd5334ae13ed55e4eec7009a409a66"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/18fee0a19a3363e2df4f588d58c5800d850ea2b5ff6a13341ea952bcb356c0a6"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/2ef05a2feca09a7d439acf30f5d960ab3f667686bd999604f4ead34858a15e1e","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/52ac960b005b2dca366eefa3da5717ea0735d3d8281765b6c436841db35cd95b","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/83f40ec12cda12d943c8fcf2bbbf9057b87e955eb65d7d180ed66e997128f672","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/54763575707b0ab63a3523ad7c4bc2c2d964714b8d6d44b718627e936933765c","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6a9aa78ef6b5c383e1ba589531ffd5d134892bb26b8b7dfdda13f860ca5371dc","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4c5cb4d4f38eab62f1ef4eb4006843f0063dc0d42c0f1fa1d08415329e5dd72b","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f4d4f67f9d9e912e802043a8d237f32e0f5f897a4a5568b6963398a3ca49eb60","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6070a7f54a4bd53c1e4686cb24c6d36401bceaa7fe26dbe711a2444caebe51a6"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a71b7ecc8c0ad9d09fa3bbdab8f3db2795c35b17b519fa72ec95c766819e096c","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/574170f474850b71fec0bbe8c12810f6bad6c2f32822d87068616664cd21d35f","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/15776af5d18c4a584eb2f78773b39f888ef73051601ddb39b4c1694ff0c45b11","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/9e7f044d5da24b4eb02a54ea9a0635901ecbac64d3605fb6123a7648a3e96a0d","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3513a66f9fd1075187415f3ffb855ad251d31149740e833f00eb3741a5260cb9","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/9a1d3fe894596f0c05961899b5f0275d0087e91d1ededaf0eb0a9c374e6cd7b6","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4170ef8df446310c20be3c30272b2d7b438d431d2c43fee8e0fa84fa15914206","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/42fa837fa136b4b069aacf50798eb32206a9c2a6ec435e4610df2dd94b7a0ad1"}}},"metadata":{"abstract_en":"To assist parliamentarians in their budgetary deliberations, this report highlights key issues arising from the 2022 Fall Economic Statement.","abstract_fr":"Ce rapport fait ressortir les faits saillants de l\u2019*\u00c9nonc\u00e9 \u00e9conomique de l\u2019automne de 2022* pour aider les parlementaires dans leurs d\u00e9lib\u00e9rations budg\u00e9taires.","highlights":[{"content":{"en":"Revisions to the private sector economic outlook and fiscal developments in the Fall Economic Statement provide a total of $81.2 billion in new \u201cfiscal room\u201d, which finances $52.2 billion in (net) new measures over 2022-23 to 2027-28.","fr":"Les r\u00e9visions apport\u00e9es aux perspectives \u00e9conomiques du secteur priv\u00e9 et \u00e0 l\u2019\u00e9volution budg\u00e9taire dans l\u2019*\u00c9nonc\u00e9 \u00e9conomique de l\u2019automne* procurent une nouvelle \u00ab marge de man\u0153uvre financi\u00e8re \u00bb de 81,2 milliards de dollars, ce qui permet de financer 52,2 milliards de dollars en nouvelles mesures (nettes) de 2022-2023 \u00e0 2027-2028."}},{"content":{"en":"Over 40 per cent ($21.6 billion) of new measures are \u201coff-cycle\u201d in nature, that is, they preceded the $30.6 billion in new spending identified as Fall Economic Statement measures.","fr":"Plus de 40 % (21,6 milliards de dollars) des nouvelles mesures sont de nature \u00ab hors cycle \u00bb, c\u2019est-\u00e0-dire qu\u2019elles ont pr\u00e9c\u00e9d\u00e9 les 30,6 milliards de dollars de nouvelles d\u00e9penses d\u00e9sign\u00e9es comme \u00e9tant des mesures de l\u2019*\u00c9nonc\u00e9 \u00e9conomique de l\u2019automne*."}},{"content":{"en":"The Government highlighted that it exceeded its first spending review target of $3.0 billion by achieving savings of $3.8 billion from lower-than-anticipated spending on certain COVID 19 support measures in the previous fiscal year, 2021-22. However, the source of this savings is inconsistent with the intention and timing that was announced in Budget 2022.","fr":"Le gouvernement a soulign\u00e9 qu\u2019il avait d\u00e9pass\u00e9 sa premi\u00e8re cible d\u2019examen des d\u00e9penses de 3,0 milliards de dollars en r\u00e9alisant des \u00e9conomies de 3,8 milliards de dollars gr\u00e2ce \u00e0 des d\u00e9penses moins \u00e9lev\u00e9es que pr\u00e9vu pour certaines mesures de soutien li\u00e9es \u00e0 la COVID-19 au cours de l\u2019exercice pr\u00e9c\u00e9dent, soit 2021-2022. Toutefois, la source de ces \u00e9conomies n\u2019est pas conforme \u00e0 l\u2019intention et au calendrier annonc\u00e9s dans le budget de 2022."}},{"content":{"en":"The Government identified $14.2 billion in new measures without providing specific details on this spending. This spending represents 27 per cent of all new measures ($52.2 billion) in the Fall Economic Statement. This lack of transparency presents challenges for parliamentarians and the public in scrutinizing the Government\u2019s spending plans.","fr":"Le gouvernement a annonc\u00e9 14,2 milliards de dollars en nouvelles mesures sans fournir de d\u00e9tails sur ces d\u00e9penses. Ces d\u00e9penses repr\u00e9sentent 27 % de toutes les nouvelles mesures (52,2 milliards de dollars) de l\u2019*\u00c9nonc\u00e9 \u00e9conomique de l\u2019automne*. Ce manque de transparence pr\u00e9sente des d\u00e9fis pour les parlementaires et les membres du public au cours de l\u2019examen des plans de d\u00e9penses du gouvernement."}},{"content":{"en":"This year the Public Accounts were tabled on October 27\u2014seven months after the close of the fiscal year. Canada continues to fall short of the standard for advanced practice in the International Monetary Fund\u2019s financial reporting guidelines, which recommends that governments publish their annual financial statements within six months.","fr":"Cette ann\u00e9e, les Comptes publics ont \u00e9t\u00e9 d\u00e9pos\u00e9s le 27 octobre \u2014 sept mois apr\u00e8s la cl\u00f4ture de l\u2019exercice. Le Canada ne respecte toujours pas la norme de pratique avanc\u00e9e des lignes directrices du Fonds mon\u00e9taire international en mati\u00e8re de rapports financiers, o\u00f9 il est recommand\u00e9 aux gouvernements de publier leurs \u00e9tats financiers annuels dans un d\u00e9lai de six mois."}}]},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2223021S,\n author={Jacques, Jason and Laurin, Marianne and Nahornick, Nora and Nicol, Caroline and Sourang, Diarra and Stanton, Jason and Vanderwees, Kaitlyn},\n title={Fall Economic Statement 2022 \\textemdash Issues for Parliamentarians},\n institution={The Office of the Parliamentary Budget Officer},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2223021S,\n author={Jacques, Jason and Laurin, Marianne and Nahornick, Nora and Nicol, Caroline and Sourang, Diarra and Stanton, Jason and Vanderwees, Kaitlyn},\n title={\\\u0027{E}nonc\\\u0027{e} \\\u0027{e}conomique de l\u2019automne 2022 \\textemdash Enjeux pour les parlementaires},\n institution={Bureau du directeur parlementaire du budget},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}"}} {"id":"RP-2223-020-S","is_published":"2022-11-10T13:57:05.000000Z","release_date":"2022-11-10T14:00:00.000000Z","updated_at":"2022-11-10T13:57:05.000000Z","type":"RP","internal_id":"RP-2223-020-S","title_en":"Risk Scenario Analysis \u2014 November 2022","title_fr":"Analyse de sc\u00e9nario de risque \u2014 Novembre 2022","slug":"RP-2223-020-S--risk-scenario-analysis-november-2022--analyse-scenario-risque-novembre-2022","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2223-020-S--risk-scenario-analysis-november-2022--analyse-scenario-risque-novembre-2022","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2223-020-S--risk-scenario-analysis-november-2022--analyse-scenario-risque-novembre-2022"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2223-020-S--risk-scenario-analysis-november-2022--analyse-scenario-risque-novembre-2022","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2223-020-S--risk-scenario-analysis-november-2022--analyse-scenario-risque-novembre-2022"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/1784db049839a6abc9fce1862c044808c8f5395a2e6cd4ff6bc72ed642de352b"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/4add25f0f3fe0524f9c433ba45ef4924dabde62e3e5d5e7f973ae656a4d43a70"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/9ba2db66a0231ab8aa5b2c0099153c6042de983e216631333fdbd030fee443a4","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3caca905b6e0bb2962ed687fe19c6cc86a1090a6d695b4da233285a878bb7919","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3f6fa1760a0bae5d2a6d3edcab270fa53a490feb8e2d12f1de11d6ebfe3f3a7e","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/24b7f01db1ed2e1c05e4a4bf3855260440c9a2f9b0bc21dbe5d1295689d019c3","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b386a4acb137ce93d95c5a358bb89f1aa3ec86457664e9b9549510e0825ba487","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3cebe4cb090ff42b371b22f59326e72a57591b65f30ec28d03598f32480052d2","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/06c5f829ec5b71c436108ae2031e4d47400ddf6a28bfac56fe983426945cf640","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/19244a50c1cc10599289bd9f560870402a1ff345f376c67c23c2ee3b62fa45b3"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/864e05e30bbd443b983df6ce74adab5067394fe483ea07485cd980baa419e8ad","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/fb87d4f0ee7ef2867e8305574cac5ecfef7af2015a1ba90ceae30a5f78413daa","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0203f253d0c718aa7dd4f59961cce2266f702b91a880a4a1ef5ad47609d59bb7","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/df6b5342fbd6e3c834bdcede16ffd86a9f015d4425335d87cb995278bc326167","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/1bb0219a6f866dec9f554e01e6d484ecd1c3718e2dfbc4ffae181a3e82571e1c","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/39d9221f1edfd01bd00c9fe70a99a207e66eeac8e5eab755c9c37b31cff16ce3","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/2cf79e87b40ad197102eaeafb72b079efa16750e211bd59913dca52069867edb","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/2c5bb7701b5ea810495b8bef191eeacf5d1cb8b27de3e88fbe7da744d15081ab"}}},"metadata":{"abstract_en":"This report provides a risk scenario analysis to help parliamentarians gauge potential economic and fiscal implications of central banks over-tightening monetary policy. **The scenario is not a most-likely forecast. It is an illustrative scenario of one possible outcome.**","abstract_fr":"Ce rapport propose une analyse de sc\u00e9nario de risque pour aider les parlementaires \u00e0 \u00e9valuer les possibles r\u00e9percussions \u00e9conomiques et financi\u00e8res d\u2019un resserrement excessif de la politique mon\u00e9taire par les banques centrales. **Le sc\u00e9nario ne constitue pas une pr\u00e9vision. Il ne montre qu\u2019une des issues possibles \u00e0 la situation.**","highlights":[{"content":{"en":"Our risk scenario assumes that the U.S. Federal Reserve and the Bank of Canada will continue to rapidly raise their policy interest rates to 5.25 per cent and 5.0 per cent, respectively, in early 2023 (100 basis points above our October outlook). We assume that the Federal Reserve and Bank of Canada will begin to lower their policy rates in early 2024.","fr":"Dans notre sc\u00e9nario de risque, nous supposons que la R\u00e9serve f\u00e9d\u00e9rale am\u00e9ricaine et la Banque du Canada continueront d\u2019augmenter rapidement leur taux directeur, de sorte qu\u2019il atteigne 5,25 % et 5,0 % respectivement au d\u00e9but de 2023 (100 points de base de plus que dans nos perspectives d\u2019octobre). Nous supposons qu\u2019elles commenceront \u00e0 abaisser leur taux au d\u00e9but de 2024."}},{"content":{"en":"With the over-tightening of monetary policy, real GDP in Canada begins to contract in the fourth quarter of 2022 and declines further over the course of 2023 in our risk scenario. Annual real GDP growth in 2023 and 2024 is -0.3 per cent and 1.3 per cent, respectively, which is 1.5 and 1.0 percentage points lower compared to our October outlook.","fr":"Compte tenu du resserrement excessif de la politique mon\u00e9taire pr\u00e9vu dans notre sc\u00e9nario de risque, le PIB r\u00e9el du Canada commence \u00e0 se contracter au quatri\u00e8me trimestre de 2022 et continue de diminuer en 2023. La croissance annuelle du PIB r\u00e9el en 2023 et en 2024 est de 0,3 % et 1,3 % respectivement, ce qui repr\u00e9sente une baisse de 1,5 et 1,0 point de pourcentage par rapport \u00e0 nos perspectives d\u2019octobre."}},{"content":{"en":"Under our risk scenario, employment growth essentially stalls in late 2022 and over the course of 2023. Employment falls below levels projected in our October outlook, resulting in a loss of 177,000 (net) jobs by the end of 2024. The unemployment rate rises to 6.2 per cent in early 2024 in our risk scenario, which is 0.5 percentage points above our October outlook.","fr":"Dans notre sc\u00e9nario de risque, la croissance de l\u2019emploi stagne essentiellement \u00e0 la fin de 2022 et en 2023. L\u2019emploi tombe sous les niveaux pr\u00e9vus dans nos perspectives d\u2019octobre, ce qui se traduit par une perte de 177 000 emplois (nets) d\u2019ici la fin de 2024. Le taux de ch\u00f4mage passe \u00e0 6,2 % au d\u00e9but de 2024 dans notre sc\u00e9nario de risque, soit 0,5 point de pourcentage de plus que ce que nous pr\u00e9voyions dans nos perspectives d\u2019octobre."}},{"content":{"en":"Due to weaker economic activity and higher interest rates in 2023 and 2024 under our risk scenario, the budgetary deficit reaches $42.9 billion in 2023-24 (1.5 per cent of GDP) and $36.5 billion in 2024-25 (1.3 per cent of GDP). Compared to our October outlook, the budgetary deficit is $15.6 billion higher per year, on average, over 2023-24 to 2027-28.","fr":"En raison du ralentissement de l\u2019activit\u00e9 \u00e9conomique et de la hausse des taux d\u2019int\u00e9r\u00eat, en 2023 et 2024 pr\u00e9vus dans notre sc\u00e9nario de risque, le d\u00e9ficit budg\u00e9taire s\u2019\u00e9l\u00e8ve \u00e0 42,9 milliards de dollars en 2023-2024 (1,5 % du PIB) et \u00e0 36,5 milliards en 2024-2025 (1,3 % du PIB). Par rapport \u00e0 nos perspectives d\u2019octobre, il est plus \u00e9lev\u00e9 de 15,6 milliards de dollars par ann\u00e9e, en moyenne, de 2023-2024 \u00e0 2027-2028."}},{"content":{"en":"Under our risk scenario, the federal debt-to-GDP ratio increases to 43.2 per cent of GDP in 2023-24 and remains elevated before gradually falling to 39.2 per cent in 2027-28. The debt service ratio (that is public debt charges relative to tax revenues) reaches 14.3 per cent in 2024-25 and then declines to 12.0 per cent in 2027-28.","fr":"Dans notre sc\u00e9nario de risque, le ratio de la dette f\u00e9d\u00e9rale au PIB augmente pour passer \u00e0 43,2 % du PIB en 2023-2024 et reste \u00e9lev\u00e9 avant de revenir graduellement \u00e0 39,2 % en 2027-2028. Le ratio du service de la dette (soit le rapport entre les frais de la dette publique et les recettes fiscales) atteint 14,3 % en 2024-2025 avant de retomber \u00e0 12,0 % en 2027-2028."}}]},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2223020S,\n author={Nahornick, Nora and Nicol, Caroline and Stanton, Jason and Behrend, Robert and Creighton, Mark and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Vanderwees, Kaitlyn},\n title={Risk Scenario Analysis \\textemdash November 2022},\n institution={The Office of the Parliamentary Budget Officer},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2223020S,\n author={Nahornick, Nora and Nicol, Caroline and Stanton, Jason and Behrend, Robert and Creighton, Mark and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Vanderwees, Kaitlyn},\n title={Analyse de sc\\\u0027{e}nario de risque \\textemdash Novembre 2022},\n institution={Bureau du directeur parlementaire du budget},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}"}} {"id":"RP-2223-018-S","is_published":"2022-10-13T12:57:05.000000Z","release_date":"2022-10-13T13:00:00.000000Z","updated_at":"2022-10-13T12:57:05.000000Z","type":"RP","internal_id":"RP-2223-018-S","title_en":"Economic and Fiscal Outlook \u2013 October 2022","title_fr":"Perspectives \u00e9conomiques et financi\u00e8res \u2013 Octobre 2022","slug":"RP-2223-018-S--economic-fiscal-outlook-october-2022--perspectives-economiques-financieres-octobre-2022","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2223-018-S--economic-fiscal-outlook-october-2022--perspectives-economiques-financieres-octobre-2022","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2223-018-S--economic-fiscal-outlook-october-2022--perspectives-economiques-financieres-octobre-2022"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2223-018-S--economic-fiscal-outlook-october-2022--perspectives-economiques-financieres-octobre-2022","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2223-018-S--economic-fiscal-outlook-october-2022--perspectives-economiques-financieres-octobre-2022"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/258865a69ecf369e99f05a9e799d04136ed8c0b04830967d0ad5aecfd59f90f9"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/51a083e93dd377e22512a1bded7c9ec3406c0f7fac7eb2d3cc34b5fb31543ee6"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d7fa73999c04307e23d86d96180e5f91c31033c5a98ee407dc6b62cf9055991a","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/9d332a78925718b07fbda3f93d76ab9bb2aebdba80cd6e29adc6f4cb242d2ddf","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/fbb974d4b634d9d774e0b6d9a8963dcc027d71682e31681f69f8d3b8a772ef81","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b1ed7e24b589eb9697f566532534e451fdf683e36f72b4528766a85f31585db4","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/fd5194e7f1ad4e2700932baba6f3337de968a2b78fbf3ac192ba3f9ddbca25f2","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/569284196971fde0ae04a2fe40f3fb15fd9aeb8212b3a92d03fa50b47895fe1b","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/9c606032b827b08e41f6ef8fcef2179d1759bc6853619320448436732c0eb62c","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4e27d041a155bc9dbb184b1c2a2a5f0188b46d4baea9c42d68345e6e2188e539"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e868718d7e6d6970c4c12049c275e08082aad802f134c34933002ffffb819e10","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f6a27cfedbbd466a775bce54ecdf70d3f89806f124a864cedfd28e534ff00e9f","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/765b7fa64713a56d6569df337c447227e123b34ac1898507a5cadc055ea531f1","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3c2ccb74035ad35fa788f6075f4f194cfa212d85ad15450156ab4e19a9370a68","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/ca52aaabbc28d4b60d603d25ababb7e5100d76064e4e8ffdef1c0cfb6c1ce1d2","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d2b396382ddf283ac93c1e58d239a0485c786a64e9c61c61435e62d76eddc6ad","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b0bd984003014b83e12072b4962d24e1abbf54f1bdcbdac4f1f3a62f069bef29","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6b3117d563ea91e5017f03f8b53059e09c7bd98995dbfa2b78a825de0b37a3d6"}}},"metadata":{"abstract_en":"This report provides a baseline projection to help parliamentarians gauge potential economic and fiscal outcomes under current policy settings.","abstract_fr":"Ce rapport pr\u00e9sente une projection de r\u00e9f\u00e9rence pour aider les parlementaires \u00e0 \u00e9valuer les r\u00e9sultats \u00e9conomiques et financiers possibles dans le cadre des politiques actuelles.","highlights":[{"content":{"en":"Since the beginning of March, the Bank of Canada has increased its policy rate by a total of 300 basis points. We expect the Bank to increase its policy rate further, reaching 4 per cent by the end of this year. With the tightening of monetary policy, PBO projects real GDP growth in Canada to slow considerably in the second half of 2022 and remain weak through 2023.","fr":"Depuis le d\u00e9but du mois de mars, la Banque du Canada a relev\u00e9 son taux directeur de 300 points de base au total et on peut s\u2019attendre \u00e0 ce qu\u2019elle le rel\u00e8ve encore pour qu\u2019il atteigne 4 % d\u2019ici la fin de l\u2019ann\u00e9e. Avec le resserrement de la politique mon\u00e9taire, le DPB pr\u00e9voit un net ralentissement de la croissance du PIB r\u00e9el du Canada pendant la seconde moiti\u00e9 de 2022 et une faible croissance tout au long de 2023."}},{"content":{"en":"As supply constraints ease and commodity prices recede from elevated levels in the first half of 2022, softer demand in 2023 is expected to contribute to sustained reductions in CPI inflation. With CPI inflation solidly on track to return to its 2 per cent target, we expect the Bank of Canada to start lowering its policy interest rate in late 2023.","fr":"Les difficult\u00e9s d\u2019approvisionnement s\u2019estompant et le cours des produits de base baissant par rapport aux niveaux \u00e9lev\u00e9s dans la premi\u00e8re moiti\u00e9 de 2022, le fl\u00e9chissement de la demande en 2023 devrait contribuer \u00e0 la baisse continue de l\u2019inflation des prix \u00e0 la consommation (IPC). Celle-ci \u00e9tant alors en tr\u00e8s bonne voie pour revenir \u00e0 la cible de 2 %, nous nous attendons \u00e0 ce que la Banque du Canada commence \u00e0 baisser son taux directeur \u00e0 la fin de 2023."}},{"content":{"en":"In the absence of final financial results for the past fiscal year, PBO estimates that there was a budgetary deficit of $97.0 billion (3.9 per cent of GDP) in 2021-22. For the current fiscal year 2022-23, PBO projects the deficit to decline to $25.8 billion (0.9 per cent of GDP) under status quo policy.","fr":"En l\u2019absence de r\u00e9sultats financiers d\u00e9finitifs pour le dernier exercice, le DPB estime que le d\u00e9ficit budg\u00e9taire pour 2021-2022 s\u2019\u00e9l\u00e8vait \u00e0 97 milliards de dollars (3,9 % du PIB). Pour l\u2019exercice en cours, 2022-2023, il devrait revenir \u00e0 25,8 milliards de dollars (0,9 % du PIB), si la politique demeure inchang\u00e9e."}},{"content":{"en":"Assuming no new measures are introduced and existing temporary measures sunset as scheduled, the budgetary deficit is projected to decline further, reaching $3.1 billion (0.1 per cent of GDP) in 2027-28, as growth in tax revenue tracks gains in nominal GDP and growth in program spending remains constrained.","fr":"En supposant qu\u2019aucune nouvelle mesure ne sera introduite et que les mesures temporaires actuelles prendront fin comme pr\u00e9vu, le d\u00e9ficit budg\u00e9taire devrait continuer de baisser pour atteindre 3,1 milliards de dollars (0,1 % du PIB) en 2027-2028, la croissance des recettes fiscales suivant la hausse du PIB nominal et l\u2019augmentation des d\u00e9penses de programmes restant limit\u00e9e."}},{"content":{"en":"PBO projects the federal debt-to-GDP ratio to continue to decline from its peak in 2020-21, gradually reaching 36.2 per cent in 2027-28, but remain above its pre-pandemic level. We project the debt service ratio (public debt charges relative to tax revenues) will peak at 11.5 per cent in 2024-25 and then decline gradually, reaching 10.9 per cent in 2027-28.","fr":"Le DPB pr\u00e9voit que le ratio de la dette f\u00e9d\u00e9rale au PIB continuera de baisser par rapport au pic atteint en 2020-2021 pour revenir graduellement \u00e0 36,2 % en 2027-2028, mais qu\u2019il restera sup\u00e9rieur \u00e0 ce qu\u2019il \u00e9tait avant la pand\u00e9mie. Nous pr\u00e9voyons que le ratio du service de la dette (soit le rapport entre les frais de la dette publique et les recettes fiscales) atteindra 11,5 % en 2024-2025, avant de redescendre graduellement \u00e0 10,9 % en 2027-2028."}}]},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2223018S,\n author={Nahornick, Nora and Nicol, Caroline and Stanton, Jason and Barkova, Lisa and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Vanderwees, Kaitlyn},\n title={Economic and Fiscal Outlook - October 2022},\n institution={The Office of the Parliamentary Budget Officer},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2223018S,\n author={Nahornick, Nora and Nicol, Caroline and Stanton, Jason and Barkova, Lisa and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Vanderwees, Kaitlyn},\n title={Perspectives \\\u0027{e}conomiques et financi\\`{e}res - Octobre 2022},\n institution={Bureau du directeur parlementaire du budget},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}"}} {"id":"RP-2223-011-S","is_published":"2022-06-22T12:57:02.000000Z","release_date":"2022-06-22T13:00:00.000000Z","updated_at":"2022-06-22T12:57:02.000000Z","type":"RP","internal_id":"RP-2223-011-S","title_en":"Trans Mountain Pipeline - Update","title_fr":"R\u00e9seau de pipelines Trans Mountain \u2014 Mise \u00e0 jour","slug":"RP-2223-011-S--trans-mountain-pipeline-update--reseau-pipelines-trans-mountain-mise-jour","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2223-011-S--trans-mountain-pipeline-update--reseau-pipelines-trans-mountain-mise-jour","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2223-011-S--trans-mountain-pipeline-update--reseau-pipelines-trans-mountain-mise-jour"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2223-011-S--trans-mountain-pipeline-update--reseau-pipelines-trans-mountain-mise-jour","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2223-011-S--trans-mountain-pipeline-update--reseau-pipelines-trans-mountain-mise-jour"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/d714b42331f85149dc1b81cb44bb6bdae3288499ec7fa9c23c9c12672491c8e5"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/db851e1bec8cf0a01f22da2b9ce492faa2123766ffb09ed503b39af7d71dd5f2"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6e80fee445cf677646b6cbbdeb8fc2b2d0a55eac3b8ebed18b4424f9f9813f45","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5f84dc325a59da0ce03eabd2f4e9fc62cec189ca1c82df4ba26b4335c934fbe8","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/95bc32c8972cef3c1bdb90dc3221d74492e81fd114666d70115f2ab2ff5913cb","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/ac1f894a7c1e4a85aedd6e88a53287d098031ff856810b0b80a1405ee52e3659","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/991ea41bdbf6cd3256c3aabfa7608c24b48e720376c57b7d2c9b8362707f9d09","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/078736f671807fec9633ff1f862299f8fdcd9d9f92baf8e11987eb98e5eb08d2","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/de05e3aa84e78eb40a3154dfd706ba63986a8f9fd76cdcf12392cf69428a3482","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/8919e24c2a5c16f0ba18d868dfb4b63a6a4ab97bb7ff1d5944f17f04109d548f"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e50a2ac54d6af7e5a2b047f8bdc59a5379c2c9dd363088e22fab644ea31d10ba","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/2a0192e36bf1ba42b7dde2925302ef11ea3734bc4fb2a1c6dc19b16dcdda87a5","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6680382a6de3888d0f65417ba82c8ee6ea57a00c54a5882e7d502ddd79d06860","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/005cceb145148d80c9a29e0ad9727282cdf9518fdec1659b3efda29b3bd66548","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b0ba11c05e707d7e5f1d5c86a64640f8fa834e935c8a11d5a2fe2f8a8f759b57","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/9cbd3a1e269e582f172613372201c1bb901bbf960363aced5d29262e2bf48875","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/52aec131a82a833ac9421b5668b4bb9c052bc42dfee6c07cbbce92a6a71d1a93","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/9b1df467f26ea670d04eb446a35dd84d0258aa36a38efc7fc7bcbb3f3e9ecb1a"}}},"metadata":{"abstract_en":"In December 2020, PBO released a report assessing the Government of Canada\u2019s 2018 decision to acquire, expand, operate, and eventually divest of the Trans Mountain Pipeline system.\n\nThis report provides an updated financial valuation of the purchased assets and estimates the valuation\u2019s sensitivity to several key factors.","abstract_fr":"En d\u00e9cembre 2020, le DPB a publi\u00e9 un rapport d\u2019\u00e9valuation sur la d\u00e9cision que le gouvernement du Canada a prise en 2018 d\u2019acqu\u00e9rir, d\u2019agrandir, d\u2019exploiter puis d\u2019un jour de c\u00e9der les actifs du r\u00e9seau de pipelines Trans Mountain.\n\nCe rapport pr\u00e9sente l\u2019\u00e9valuation \u00e0 jour de la valeur financi\u00e8re des actifs acquis ainsi que l\u2019estimation de la sensibilit\u00e9 de leur valeur \u00e0 plusieurs facteurs cl\u00e9s.","highlights":[{"content":{"en":"In this update, PBO finds that the Government\u2019s 2018 decision to acquire, expand, operate, and eventually divest of the Trans Mountain assets will result in a net loss for the federal government as calculated on a Net Present Value (NPV basis).","fr":"Dans la pr\u00e9sente mise \u00e0 jour, le DPB constate que la d\u00e9cision prise par le gouvernement en 2018 d\u2019acqu\u00e9rir, d\u2019agrandir, d\u2019exploiter puis de c\u00e9der les actifs du r\u00e9seau de pipelines Trans Mountain occasionnera une perte nette pour le gouvernement f\u00e9d\u00e9ral, calcul\u00e9e selon la valeur actualis\u00e9e nette (VAN)."}},{"content":{"en":"PBO also examined a scenario where the Trans Mountain Pipeline expansion is stopped after June 2022 and cancelled indefinitely. Under this scenario, the Government would need to write off over $14 billion in assets. The net impact would result in a significant financial loss for the Government and would lead to the Trans Mountain Corporation no longer being a going concern.","fr":"Le DPB a \u00e9galement examin\u00e9 un sc\u00e9nario selon lequel l\u2019agrandissement du pipeline Trans Mountain cesserait apr\u00e8s juin 2022 et serait annul\u00e9 pour une dur\u00e9e ind\u00e9termin\u00e9e. Dans un tel sc\u00e9nario, le gouvernement devrait radier des actifs d\u2019une valeur de plus de 14 milliards de dollars. Cela entra\u00eenerait des pertes financi\u00e8res consid\u00e9rables pour celui-ci et se traduirait par le fait que Trans Mountain Corporation cesserait ses activit\u00e9s."}}]},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2223011S,\n author={Stanton, Jason and Vanderwees, Kaitlyn},\n title={Trans Mountain Pipeline - Update},\n institution={The Office of the Parliamentary Budget Officer},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2223011S,\n author={Stanton, Jason and Vanderwees, Kaitlyn},\n title={R\\\u0027{e}seau de pipelines Trans Mountain \\textemdash Mise \\`{a} jour},\n institution={Bureau du directeur parlementaire du budget},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}"}} {"id":"RP-2223-001-S","is_published":"2022-04-22T12:57:10.000000Z","release_date":"2022-04-22T13:00:00.000000Z","updated_at":"2022-04-22T13:03:40.000000Z","type":"RP","internal_id":"RP-2223-001-S","title_en":"Budget 2022: Issues for parliamentarians","title_fr":"Budget de 2022 : Consid\u00e9rations pour les 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assist parliamentarians in their budgetary deliberations, this report highlights key issues arising from Budget 2022.","abstract_fr":"Ce rapport fait ressortir les faits saillants du budget de 2022 pour aider les parlementaires dans leurs d\u00e9lib\u00e9rations budg\u00e9taires.","highlights":[{"content":{"en":"Since the start of the pandemic, the Government has spent, or has planned to spend, $576 billion in new measures\u2014over 35 per cent, $204.5 billion, of this spending is not part of the COVID-19 Response Plan.","fr":"Depuis le d\u00e9but de la pand\u00e9mie, le gouvernement a d\u00e9pens\u00e9, ou pr\u00e9vu de d\u00e9penser, 576 milliards de dollars en nouvelles mesures \u2013 plus de 35 % de ces d\u00e9penses, soit 204,5 milliards de dollars, ne fait pas partie du Plan d\u2019intervention \u00e9conomique du Canada pour r\u00e9pondre \u00e0 la COVID-19."}},{"content":{"en":"Implementation of any remaining measures from the Liberal Party of Canada\u2019s 2021 election platform, as well as additional commitments not included in Budget 2022, such as Pharmacare, will impact the budgetary balance going forward.","fr":"La mise en \u0153uvre de toute mesure restante du programme \u00e9lectoral de 2021 du Parti lib\u00e9ral du Canada, ainsi que tout engagement suppl\u00e9mentaire non indiqu\u00e9 au budget de 2022, comme l\u2019assurance-m\u00e9dicaments, aura une incidence sur le solde budg\u00e9taire ult\u00e9rieur."}},{"content":{"en":"Budget 2022 includes new spending on tax compliance, which is expected to recover $3.4 billion in revenues. There is downside risk to the projected recovery in revenues due to a likely increase in the number of objections and appeals from taxpayers and CRA\u2019s performance on the collection of arrears.","fr":"Le budget de 2022 comporte de nouvelles d\u00e9penses pour l\u2019observation fiscale, dont on s\u2019attend qu\u2019elles entra\u00eenent le recouvrement de recettes fiscales de 3,4 milliards de dollars. Les recettes recouvr\u00e9es pourraient toutefois \u00eatre moins \u00e9lev\u00e9es que pr\u00e9vu, en raison d\u2019une probable augmentation du nombre d\u2019oppositions et d\u2019appels des contribuables et du rendement de l\u2019ARC en mati\u00e8re de perception des arri\u00e9r\u00e9s."}},{"content":{"en":"The Government expects to reduce spending by $9.0 billion beginning in 2023-24. The Government intends to review and identify areas to reduce spending. However, specific details regarding the scope of the review have not yet been announced.","fr":"Le gouvernement s\u2019attend \u00e0 r\u00e9duire les d\u00e9penses de 9,0 milliards de dollars en 2023-2024. Il entend proc\u00e9der \u00e0 un examen afin de d\u00e9terminer les secteurs o\u00f9 les d\u00e9penses seront r\u00e9duites. Cependant, certains d\u00e9tails sur la port\u00e9e de l\u2019examen n\u2019ont pas encore \u00e9t\u00e9 annonc\u00e9s."}},{"content":{"en":"The tabling of Budget 2022 a month after the Government\u2019s Main Estimates decouples the Government\u2019s fiscal planning from the medium-term operational plans tabled in Parliament. Parliamentarians could be well served by adopting a new legislative or administrative framework to enforce better alignment among the Government\u2019s various financial reports.","fr":"Le d\u00e9p\u00f4t du budget de 2022 un mois apr\u00e8s la pr\u00e9sentation du budget principal des d\u00e9penses dissocie la planification financi\u00e8re du gouvernement des plans op\u00e9rationnels \u00e0 moyen terme d\u00e9pos\u00e9s au Parlement. Il pourrait \u00eatre utile que les parlementaires adoptent un nouveau cadre l\u00e9gislatif ou administratif pour imposer une meilleure harmonisation entre les divers rapports financiers du gouvernement."}}]},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2223001S,\n author={Bernier, Govindadeva and Grinshpoon, Kristina and Jacques, Jason and Nahornick, Nora and Nicol, Caroline and Perrault, Louis and Stanton, Jason},\n title={Budget 2022: Issues for parliamentarians},\n institution={The Office of the Parliamentary Budget Officer},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2223001S,\n author={Bernier, Govindadeva and Grinshpoon, Kristina and Jacques, Jason and Nahornick, Nora and Nicol, Caroline and Perrault, Louis and Stanton, Jason},\n title={Budget de 2022 : Consid\\\u0027{e}rations pour les parlementaires},\n institution={Bureau du directeur parlementaire du budget},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}"}} 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report provides a baseline projection to help parliamentarians gauge potential economic and fiscal outcomes under current policy settings.","abstract_fr":"Ce rapport pr\u00e9sente des pr\u00e9visions de r\u00e9f\u00e9rence pour aider les parlementaires \u00e0 \u00e9valuer les r\u00e9sultats \u00e9conomiques et budg\u00e9taires possibles en vertu des cadres d\u2019action actuels.","highlights":[{"content":{"en":"PBO projects growth in the Canadian economy to rebound sharply in the second quarter and remain robust in the second half of 2022 as the reopening of the economy continues.","fr":"Le DPB pr\u00e9voit que la croissance de l\u2019\u00e9conomie canadienne reprendra nettement au cours du deuxi\u00e8me trimestre et qu\u2019elle demeurera solide durant la deuxi\u00e8me moiti\u00e9 de 2022 alors que se poursuit la r\u00e9ouverture progressive de l\u2019\u00e9conomie."}},{"content":{"en":"Based on our outlook for inflation and the output gap, PBO projects that the Bank of Canada will increase its policy interest rate by a cumulative 75 basis points, lifting its rate to 1.00 per cent by the end of 2022.","fr":"En s\u2019appuyant sur ses perspectives concernant l\u2019inflation et l\u2019\u00e9cart de production, le DPB pr\u00e9voit que la Banque du Canada va augmenter son taux directeur de 75 points de base cumulatifs, relevant le taux \u00e0 1 % d\u2019ici la fin de 2022."}},{"content":{"en":"PBO projects a budget deficit of $139.8 billion (5.6 per cent of GDP) in 2021-22 and $47.9 billion (1.8 per cent of GDP) in 2022-23. We project the federal debt-to-GDP ratio to peak at 47.7 per cent in 2021-22 and then gradually decline over the medium term to 42.3 per cent.","fr":"Le DPB pr\u00e9voit un d\u00e9ficit budg\u00e9taire de 139,8 milliards de dollars en 2021-2022 (5,6 % du PIB) et de 47,9 milliards de dollars en 2022-2023, soit 1,8 % du PIB. Le ratio de la dette f\u00e9d\u00e9rale au PIB devrait atteindre un sommet \u00e0 47,7 % du PIB en 2021-2022 avant de revenir progressivement \u00e0 moyen terme \u00e0 42,3 %."}},{"content":{"en":"Due to low interest rates, the cost of servicing the federal debt reached its lowest recorded level in 2020-21 of 7.2 per cent of tax revenues. While interest rates are projected to rise, the debt service ratio will remain low, reaching 11.5 per cent of tax revenues over the medium term.","fr":"\u00c9tant donn\u00e9 les faibles taux d\u2019int\u00e9r\u00eat, le co\u00fbt de service de la dette f\u00e9d\u00e9rale a atteint son niveau le plus bas enregistr\u00e9 en 2020-2021, \u00e0 7,2 % des recettes fiscales. Malgr\u00e9 la hausse anticip\u00e9e des taux d\u2019int\u00e9r\u00eat, le ratio du service de la dette du gouvernement demeurera bas, atteignant 11,5 % des recettes fiscales \u00e0 moyen terme."}}]},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2122030S,\n author={Nahornick, Nora and Nicol, Caroline and Stanton, Jason and Ammar, Nasreddine and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Duncan, Krista and Forsyth, Jamie and Giswold, Jill and MacPhee, Sarah and Michalyshyn, Katarina and Segel-Brown, Ben and Sourang, Diarra and Vanderwees, Kaitlyn},\n title={Economic and Fiscal Outlook - March 2022},\n institution={The Office of the Parliamentary Budget Officer},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2122030S,\n author={Nahornick, Nora and Nicol, Caroline and Stanton, Jason and Ammar, Nasreddine and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Duncan, Krista and Forsyth, Jamie and Giswold, Jill and MacPhee, Sarah and Michalyshyn, Katarina and Segel-Brown, Ben and Sourang, Diarra and Vanderwees, Kaitlyn},\n title={Perspectives \\\u0027{e}conomiques et financi\\`{e}res - Mars 2022},\n institution={Bureau du directeur parlementaire du budget},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}"}} {"id":"RP-2122-027-S","is_published":"2022-01-19T14:00:10.000000Z","release_date":"2022-01-19T14:00:00.000000Z","updated_at":"2022-01-19T14:00:10.000000Z","type":"RP","internal_id":"RP-2122-027-S","title_en":"Economic and Fiscal Update 2021: Issues for Parliamentarians","title_fr":"Mise \u00e0 jour \u00e9conomique et budg\u00e9taire de 2021 : Enjeux pour les 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report highlights key issues arising from the 2021 Economic and Fiscal Update to assist parliamentarians in their budgetary deliberations.","abstract_fr":"Le pr\u00e9sent rapport fait ressortir les faits saillants de la mise \u00e0 jour \u00e9conomique et budg\u00e9taire de 2021 pour aider les parlementaires dans leurs d\u00e9lib\u00e9rations budg\u00e9taires.","highlights":[{"content":{"en":"To promote fiscal transparency, the report recommends legislative amendments for Parliament to consider, such as moving the release date of the Public Accounts by three months to no later than September 30th.","fr":"Par souci de transparence budg\u00e9taire, le rapport recommande au Parlement d\u2019\u00e9tudier des modifications l\u00e9gislatives, visant notamment \u00e0 devancer la publication des Comptes publics de trois mois, soit au plus tard le 30 septembre."}},{"content":{"en":"The report shows that since the start of the pandemic, the Government has spent, or has planned to spend, $541.9 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The report estimates that remaining platform measures would amount to $48.5 billion in net new spending.","fr":"Les 71,2 milliards de dollars en nouvelles mesures dans la Mise \u00e0 jour du gouvernement s\u2019ajoutent en grande partie aux mesures incluses dans le programme \u00e9lectoral du Parti lib\u00e9ral du Canada pour 2021. Le rapport estime que les autres mesures de la plateforme s\u2019\u00e9l\u00e8veraient \u00e0 48,5 milliards de dollars en nouvelles d\u00e9penses nettes."}},{"content":{"en":"Fiscal guardrail indicators in the Update have effectively returned to their pre-pandemic benchmarks. The report notes that the policy rationale for the additional spending initially presented as stimulus spending no longer exists.","fr":"Les indicateurs que sont les garde-fous budg\u00e9taires sont revenus \u00e0 leur niveau de r\u00e9f\u00e9rence d\u2019avant la pand\u00e9mie. Le rapport note que les d\u00e9penses suppl\u00e9mentaires initialement pr\u00e9vues pour la relance \u00e9conomique ne sont plus n\u00e9cessaires."}}]},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2122027S,\n author={Jacques, Jason and MacPhee, Sarah and Nicol, Caroline and Stanton, Jason and Vanderwees, Kaitlyn},\n title={Economic and Fiscal Update 2021: Issues for Parliamentarians},\n institution={The Office of the Parliamentary Budget Officer},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2122027S,\n author={Jacques, Jason and MacPhee, Sarah and Nicol, Caroline and Stanton, Jason and Vanderwees, Kaitlyn},\n title={Mise \\`{a} jour \\\u0027{e}conomique et budg\\\u0027{e}taire de 2021 : Enjeux pour les parlementaires},\n institution={Bureau du directeur parlementaire du budget},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}"}} 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response to a request by Member of Parliament Glen Motz (Medicine Hat\u2014Cardston\u2014Warner), this report estimates, under various scenarios, the cost of firearm compensation as part of the Government\u2019s firearm buy-back program.","abstract_fr":"En r\u00e9ponse \u00e0 une demande du d\u00e9put\u00e9 Glen Motz (Medicine Hat-Cardston-Warner), ce rapport \u00e9value, selon diff\u00e9rents sc\u00e9narios, le co\u00fbt de l\u2019indemnisation des propri\u00e9taires d\u2019armes \u00e0 feu dans le cadre du programme de rachat du gouvernement.","highlights":null},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2122011M,\n author={Giswold, Jill and Stanton, Jason},\n title={Cost Estimate of the Firearm Buy-Back Program},\n institution={The Office of the Parliamentary Budget Officer},\n year=2021,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2122011M,\n author={Giswold, Jill and Stanton, Jason},\n title={\\\u0027{E}valuation du cout du programme de rachat d\u2019armes 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January 2019, PBO released a [report](https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-1819-392--canadas-purchase-of-the-trans-mountain--achat-du-pipeline-trans-mountain-par) assessing the Government of Canada\u2019s 2018 decision to acquire, expand, operate, and eventually divest of the Trans Mountain Pipeline system.\n\nThis report provides an updated financial valuation of the purchased assets, estimates the valuation\u2019s sensitivity to several key factors, and projects the economic impact of the Expansion Project\u2019s construction activities.","abstract_fr":"En janvier 2019, le DPB a publi\u00e9 un [rapport](https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-1819-392--canadas-purchase-of-the-trans-mountain--achat-du-pipeline-trans-mountain-par) \u00e9valuant la d\u00e9cision du gouvernement du Canada en 2018 d\u2019acheter, d\u2019agrandir, d\u2019exploiter puis de c\u00e9der le pipeline Trans Mountain.\n \nLe pr\u00e9sent rapport renferme une \u00e9valuation financi\u00e8re des actifs achet\u00e9s, une estimation de la sensibilit\u00e9 de cette \u00e9valuation \u00e0 plusieurs facteurs cl\u00e9s, et une estimation des retomb\u00e9es \u00e9conomiques des activit\u00e9s de construction du projet d\u2019agrandissement du r\u00e9seau de Trans Mountain (PARTM).","highlights":null},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2021035S,\n author={Stanton, Jason and Wodrich, Nigel and Matier, Chris},\n title={Trans Mountain Pipeline - Financial and Economic Considerations - Update},\n institution={The Office of the Parliamentary Budget Officer},\n year=2020,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2021035S,\n author={Stanton, Jason and Wodrich, Nigel and Matier, Chris},\n title={Le pipeline Trans Mountain - Consid\\\u0027{e}rations financi\\`{e}res et \\\u0027{e}conomiques - Mise \\`{a} jour},\n institution={Bureau du directeur parlementaire du budget},\n year=2020,\n \n address = \u0022Ottawa, ON\u0022\n}"}} 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note presents a detailed analysis of the Government\u2019s second supplementary estimates for the 2020-21 fiscal year, which seeks Parliament\u2019s approval of $20.9 billion.","abstract_fr":"Cette note fournit une analyse d\u00e9taill\u00e9e du deuxi\u00e8me budget suppl\u00e9mentaire des d\u00e9penses du gouvernement pour l\u0027exercice 2020-2021, dans lequel ce dernier demande au Parlement d\u0027approuver des d\u00e9penses totalisant 20,9 milliards de dollars.","highlights":null},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2021034S,\n author={Giswold, Jill and Stanton, Jason},\n title={Supplementary Estimates (B) 2020-21},\n institution={The Office of the Parliamentary Budget Officer},\n year=2020,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2021034S,\n author={Giswold, Jill and Stanton, Jason},\n title={Budget suppl\\\u0027{e}mentaire des d\\\u0027{e}penses (B) 2020-2021},\n institution={Bureau du directeur parlementaire du budget},\n year=2020,\n \n address = \u0022Ottawa, ON\u0022\n}"}} {"id":"RP-2021-022-S","is_published":"2021-01-26T20:16:02.000000Z","release_date":"2020-10-02T04:00:00.000000Z","updated_at":"2021-01-26T20:16:02.000000Z","type":"RP","internal_id":"RP-2021-022-S","title_en":"Crown corporations\u2019 COVID-19 liquidity support","title_fr":"Soutien \u00e0 la liquidit\u00e9 des soci\u00e9t\u00e9s d\u2019\u00c9tat en r\u00e9ponse \u00e0 la COVID-19","slug":"RP-2021-022-S--crown-corporations-covid-19-liquidity-support--soutien-liquidite-societes-etat-en-reponse-covid-19","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2021-022-S--crown-corporations-covid-19-liquidity-support--soutien-liquidite-societes-etat-en-reponse-covid-19","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2021-022-S--crown-corporations-covid-19-liquidity-support--soutien-liquidite-societes-etat-en-reponse-covid-19"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2021-022-S--crown-corporations-covid-19-liquidity-support--soutien-liquidite-societes-etat-en-reponse-covid-19","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2021-022-S--crown-corporations-covid-19-liquidity-support--soutien-liquidite-societes-etat-en-reponse-covid-19"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/ba4dd5941d973cee718b5c52adbd4f12d12d2221ddd16d4c6ffa35ebbc226159"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/57599fce2ebbde3d89dc92bf775dc24c11497f686f12042bd76139b9e8380dd6"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/ea2747c688e822910da576b6f2deb3f754fb0616","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/58ec5d90f6af96fb2beb576c919bf7bf5c6d08d8","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/53a7859438c90420fbba5b874098d485534bf777","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/1a3b179b85f506fa24c7885cd05aa142645bb935","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/2e7b0b676e551a1350e906bb935baffa5ae73b1d","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/44205fb3aa7acd98aaef4c5d8336af9b5c05f6c8","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/08a05bfb1d10e176c33eb7a7f93e736d213b2ce6","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/fad9156c2e00d7e00a99054802dc52a417127552"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3744b031dae322da0be37a105e46d2865d65412a","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/fee625adc39d1e89f9bff46974f146a1e9c20e05","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c890065d98fac422654f2c91c10314622034b1dd","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/801ba5945f646c23dfd4cb7899a6ed4172ede759","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/dd15b68e273fcbff1ac7ed590ec71ccce4e3f979","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f9dafeb64a78dc2e14882b03ab6ae6e78088f551","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/42c1c6e72367d8e3a424058c541a3e6fd99a371a","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/cc80bb59c09008c359a1ff77cf8c5ec36b79ec4d"}}},"metadata":{"abstract_en":"This 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PBO estimates total liquidity supports through August 2020, and highlights gaps in publicly-available risk metrics for these supports.","abstract_fr":"Ce rapport expose les grandes lignes du train de mesures de soutien \u00e0 la liquidit\u00e9 offertes par cinq soci\u00e9t\u00e9s d\u2019\u00c9tat f\u00e9d\u00e9rales en r\u00e9ponse \u00e0 la COVID-19. Le DPB fait une estimation de ce que repr\u00e9sentent l\u2019ensemble de ces mesures jusqu\u2019au mois d\u2019ao\u00fbt 2020, et souligne l\u2019insuffisance de donn\u00e9es accessibles au public sur les risques que comportent ces mesures.","highlights":null},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2021022S,\n author={Liberge-Simard, Rapha\\\u0022{e}l and Stanton, Jason},\n title={Crown corporations\u2019 COVID-19 liquidity support},\n institution={The Office of the Parliamentary Budget Officer},\n year=2020,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2021022S,\n author={Liberge-Simard, Rapha\\\u0022{e}l and Stanton, Jason},\n title={Soutien \\`{a} la liquidit\\\u0027{e} des soci\\\u0027{e}t\\\u0027{e}s d\u2019\\\u0027{E}tat en r\\\u0027{e}ponse \\`{a} la COVID-19},\n institution={Bureau du directeur parlementaire du budget},\n year=2020,\n \n address = \u0022Ottawa, ON\u0022\n}"}} {"id":"LEG-2021-014-S","is_published":"2021-05-11T18:42:10.000000Z","release_date":"2020-04-24T13:00:00.000000Z","updated_at":"2021-05-11T19:10:15.000000Z","type":"LEG","internal_id":"LEG-2021-014-S","title_en":"Loan Guarantee Program for Small and Medium Sized Enterprises (SMEs)","title_fr":"Programme de garantie et de pr\u00eats pour les petites et moyennes entreprises (PME)","slug":"LEG-2021-014-S--loan-guarantee-program-small-medium-sized-enterprises-smes--programme-garantie-prets-petites-moyennes-entreprises-pme","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/LEG-2021-014-S--loan-guarantee-program-small-medium-sized-enterprises-smes--programme-garantie-prets-petites-moyennes-entreprises-pme","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/LEG-2021-014-S--loan-guarantee-program-small-medium-sized-enterprises-smes--programme-garantie-prets-petites-moyennes-entreprises-pme"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/LEG-2021-014-S--loan-guarantee-program-small-medium-sized-enterprises-smes--programme-garantie-prets-petites-moyennes-entreprises-pme","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/LEG-2021-014-S--loan-guarantee-program-small-medium-sized-enterprises-smes--programme-garantie-prets-petites-moyennes-entreprises-pme"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/7aa46f687557a6637f2d74b0124550641bf639d2abaf1f7363e5d7c04614736c"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/e176c8b0a74865a1609e8150be333139c515b5a096a1321e1a1d4e751b034520"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c413921dbdff9b3156a003b0fe298c076e1c014ddbf9a973dedb75f02926c890","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6dd836cbe404b82d60a222cf3ab461ead43ea906db79c73259507c465b417941","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/59d0b69547bd23b186547a050e9bef7d2e49d2be6b1cb2d11e2f120741034726","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b6b62714cb56d2fb931a96d9e535bbcef552f7b09765f68ca9b4aaa6cae37211","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b2596a7a51495bbd1d36e52be03e5b929897019d6ad3d40daeae297d8e9e8894","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6f887047b9d1f7f3e82a81359f6c8c0ca7780b6e67555d19ea6692898b657f59","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/8344a6ba93db77e8cd35a7c26439915a8b54cd3b2008d022061f309fb1e7db73","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/1492dc598764c3864b09b573fbc9222de2db18e51f3c6ef9dbfe55c1468f9947"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/cdc20d826504f1500cf456f5335b535951a27fab46da05789ac189675a75e863","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/eb158b0269d4e340308a345c4780305dc9b151bafb0c0eab6acdbc84a749c91d","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6e812b14fd6814bcd69db998e67f369baf3890c457408a0b8d4c5aae65049a2f","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5d6b8a6ac56c863a0e496a5739bc7d9f8d4e89b055ac70f62ccb04a1b4459b4b","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4782afe527071b5efd9704e7ba9c50ed82e5cacb8f51b6c8a2c25658bfc98a68","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/bff630d554cda95b0411248bd29c1a32900a75aabf41b7d5806349a1724eaa00","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/fdbc450cedeccaef6624ac56ae0f233be201232f751ec92d74a686c797116ecb","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6f6afaf222f96b2fc5745001b7039d78d188a4cd7e1266803005fb0ffcfa0cc1"}}},"metadata":{"abstract_en":"Export Development Canada (EDC) guarantees 80% of new loans to SMEs, up to $6.25 million, with a total program envelope of $20 billion. PBO estimates total net income of this measure to be $3 million in 2020-21. The time horizon for this costing is aligned to PBO\u2019s current Economic and Fiscal Scenario, although there may be potential fiscal impacts for subsequent years.","abstract_fr":"Exportation et d\u00e9veloppement Canada (EDC) garantit 80 % des nouveaux pr\u00eats aux PME, jusqu\u2019\u00e0 concurrence de 6,25 millions de dollars. L\u2019enveloppe totale du programme se chiffre \u00e0 20 milliards de dollars. Le DPB estime le revenu net total de cette mesure \u00e0 3 millions de dollars en 2020-2021. 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L\u2019incidence financi\u00e8re probable de cette mesure se fera sentir au cours des ann\u00e9es \u00e0 venir.","highlights":null},"bills":[],"bibtex":{"en":"@techreport{PBO-LEG2021010S,\n author={Srivatsan, Varun and Stanton, Jason},\n title={Additional Lending Capacity for Farm Credit Canada (FCC)},\n institution={The Office of the Parliamentary Budget Officer},\n year=2020,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-LEG2021010S,\n author={Srivatsan, Varun and Stanton, Jason},\n title={Accroissement de la capacit\\\u0027{e} de pr\\^{e}t de Financement agricole Canada (FAC)},\n institution={Bureau du directeur parlementaire du budget},\n year=2020,\n \n address = \u0022Ottawa, ON\u0022\n}"}} {"id":"LEG-2021-002-S","is_published":"2021-05-12T19:19:14.000000Z","release_date":"2020-04-02T13:00:00.000000Z","updated_at":"2021-05-12T19:20:41.000000Z","type":"LEG","internal_id":"LEG-2021-002-S","title_en":"Insured Mortgage Purchase Program (IMPP)","title_fr":"Programme d\u2019achat de pr\u00eats hypoth\u00e9caires assur\u00e9s (PAPHA)","slug":"LEG-2021-002-S--insured-mortgage-purchase-program-impp--programme-achat-prets-hypothecaires-assures-papha","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/LEG-2021-002-S--insured-mortgage-purchase-program-impp--programme-achat-prets-hypothecaires-assures-papha","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/LEG-2021-002-S--insured-mortgage-purchase-program-impp--programme-achat-prets-hypothecaires-assures-papha"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/LEG-2021-002-S--insured-mortgage-purchase-program-impp--programme-achat-prets-hypothecaires-assures-papha","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/LEG-2021-002-S--insured-mortgage-purchase-program-impp--programme-achat-prets-hypothecaires-assures-papha"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/a4505075824a91ccf3d9784c2bcadc77302a4fa3311166de2509f851ef61f70f"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/e786e758d609afd6789f377bcbd274809b66405c8e65c40bd49e0db8445d1282"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/bd5c280583c0e418cf6ccbe1a846287ee97040cb0948dc8f4191e3e9cefc2a5e","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/23301acce0390a11abb7102fc44e6da2df52a6893d14730e9f83bc9ea3f8399c","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/701cd26ae208cce373ee461f1f1af26a5a256546e1caf3927779e7559777f573","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/7005234152990cc5892bc47b952f1e71046ac457c93ec9006b02253a86a15c64","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/fef02993dae3f375ff6d827f5d34adab40bca4d0e2bb1db5cad63bfd3bc3ca76","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/40cdc6f9f592b919d29bb93d540dceb75a5c9709f11e0b8d0b4a0094c4f97c37","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/93f3f8a0f973fc45cbf718bc216196f836349369e37ee68d603c858103a53600","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c6dfdb5144d40fc0c86c2aea748f27dbce7d134988b2a54f8039551a11de40eb"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f8b63ee07c99f31e1183542b064b79bb104bca2ccdef8df1dad32db5c216eb91","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0f6a3759d8b84ec95083115f38ea3dfc3604d8735118a3231d177aa4effad575","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a168ffc4fb905e3e7f34eb894d0cdfc7a76b2b0e742fe0c23b8d29b800f42f61","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/62866b83882e49a955d6918c4bc66d23bbeff91b7c917b46e4323cd7a4a57f74","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/91e826b126fe80a4ad548a1e0094ef39074444e3c014832d5cc1a969fb6eeb09","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c502a87fdde911d1c0bd3ab592edcc8ebc55301c7faa8a479cf4f54e0a620074","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a62b0e3587c3aff553b216f1ebf5001c67e14ec794472cdbb2a82362eb93666c","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0d2a85a858578c238b33c5ec35bb2ec408ccdf3365a99cb2dd05c2b4e5855c2e"}}},"metadata":{"abstract_en":"As part of the IMPP, the Government will purchase up to $150 billion of insured mortgage pools through the Canada Mortgage and Housing Corporation (CMHC). The objective of the IMPP is to provide financial market liquidity to ensure continued lending to businesses and individuals. The IMPP was last used in 2008 2010. PBO estimates the total net savings of this measure to be $13 million in 2019-20 and $428 million 2020-21. The time horizon for this costing is aligned to PBO\u2019s current Economic and Fiscal Scenario, although there may be potential fiscal impacts for subsequent years.","abstract_fr":"Dans le cadre du PAPHA, le gouvernement ach\u00e8tera jusqu\u2019\u00e0 150 milliards de dollars de blocs de pr\u00eats hypoth\u00e9caires assur\u00e9s par l\u2019entremise de la Soci\u00e9t\u00e9 canadienne d\u2019hypoth\u00e8ques et de logement (SCHL). Ce programme vise \u00e0 soutenir la liquidit\u00e9 des march\u00e9s financiers afin que les entreprises et les particuliers puissent continuer \u00e0 obtenir des pr\u00eats. Il a \u00e9t\u00e9 utilis\u00e9 pour la derni\u00e8re fois en 2008-2010. Le DPB \u00e9value que les \u00e9conomies nettes totales de cette mesure seront de 13 millions de dollars en 2019-2020 et de 428 millions de dollars en 2020-2021. L\u2019horizon pr\u00e9visionnel de cette \u00e9valuation de co\u00fbts est conforme au sc\u00e9nario \u00e9conomique et financier du DPB, bien que des r\u00e9percussions financi\u00e8res pourraient \u00eatre \u00e0 pr\u00e9voir au cours des ann\u00e9es subs\u00e9quentes.","highlights":null},"bills":[],"bibtex":{"en":"@techreport{PBO-LEG2021002S,\n author={Srivatsan, Varun and Stanton, Jason},\n title={Insured Mortgage Purchase Program (IMPP)},\n institution={The Office of the Parliamentary Budget Officer},\n year=2020,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-LEG2021002S,\n author={Srivatsan, Varun and Stanton, Jason},\n title={Programme d\u2019achat de pr\\^{e}ts hypoth\\\u0027{e}caires assur\\\u0027{e}s (PAPHA)},\n institution={Bureau du directeur parlementaire du budget},\n year=2020,\n \n address = \u0022Ottawa, ON\u0022\n}"}} 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note examines the federal government\u2019s Expenditure Plan and Main Estimates for 2020-21, which supports the first two appropriation bills that will seek Parliament\u2019s approval of $125.1 billion.","abstract_fr":"Le pr\u00e9sent document porte sur le Plan des d\u00e9penses du gouvernement et le Budget principal des d\u00e9penses pour 2020-2021, qui appuie les deux premiers projets de loi de cr\u00e9dits dans lesquels le gouvernement demande au Parlement d\u2019approuver une somme de 125,1 milliards de dollars.","highlights":null},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2021031,\n author={Giswold, Jill and Stanton, Jason},\n title={The Government\u2019s Expenditure Plan and Main Estimates for 2020-21},\n institution={The Office of the Parliamentary Budget Officer},\n year=2020,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2021031,\n author={Giswold, Jill and Stanton, Jason},\n title={Le Plan des d\\\u0027{e}penses du gouvernement et le Budget principal 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2019-2020","slug":"RP-1920-028-S--supplementary-estimates-b-2019-20--budget-supplementaire-depenses-b-2019-2020","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-1920-028-S--supplementary-estimates-b-2019-20--budget-supplementaire-depenses-b-2019-2020","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-1920-028-S--supplementary-estimates-b-2019-20--budget-supplementaire-depenses-b-2019-2020"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-1920-028-S--supplementary-estimates-b-2019-20--budget-supplementaire-depenses-b-2019-2020","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-1920-028-S--supplementary-estimates-b-2019-20--budget-supplementaire-depenses-b-2019-2020"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/11830adbb70e9c481934a53e31aedc2816aa3c95f8ae08c37f9679e8a3b6d7d6"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/69499366449450916c18b6b1a1e64bf710eb9d247d3e2b6622a7076f43e60a26"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0f8053780103144aecb851e5971e9f1318b6236b37974e12a4658b3bcd684e45","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e06706ea43bc40cc2f92a2b0a92eb865e7c4402ce63eb2a8ba979e5fc3bd4b71","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/53f2c70a6dbb464ecfc39f52e66669eabbe63c6c531569be69a4da8d53664928","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/9d09c68a8c1da0aaa16cc6e7ce6e997b6f3e4a9c9a6b1187a656e1c3098c72df","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/cbe9552f4b54b2efc750667b8ca1697b4eb438d5a85e0f8c0f3fde782c431522","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b529a42cb5ed75f95c3388dd126f77229db05c05ec18e587115e4b445cb022e6","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0e5adafc1117d7da3d4c42f962c3ad6340cd8cef496dcad35f27c7a3193ae3e6","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d6945a0a2b5f88a29ebb04e863d2832ffb09ca2f6bcfde75e140eb7aec824d86"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5da4ff74640c9ee7642fe062e08e279f78d0c491fdc911395cbfbaafedf42255","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/841b7d925f017a81253c7e6f66056da321b41ba1edd63d1e973af2494da4e22e","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/beb481d37afd98538a3a258451eb016f0c10658b6a177c0fdc8132aeb99e2004","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/26e171737fe518dac696dde8d5ff472aae61706a8deb1edeed280885b9af50cb","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0c1180ee440b7ea55ec71508aef83522ede729172f35d284cac2e0793029428a","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/dd1c36ce63254496dcc7e97ad4f0347840727ab8ee4256896859c045da14ffc3","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/124940a26cf8e9faa4f15f2d26bd54ac301f1befbe994cf1c0399780a137fb35","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/8d605cf636515df706bfd1d5cf3e3fe0a6db308e3c1f2022f7ce2df30fab336b"}}},"metadata":{"abstract_en":"This note presents a detailed analysis of the Government\u2019s second supplementary estimates for the 2019-20 fiscal year, which seeks Parliament\u2019s approval of $3.8 billion to be spent before March 31, 2020.\n\n---\n\nSupplementary Estimates (B), tabled February 18, 2020 in the House of Commons, outline an additional $5.6 billion in budgetary authorities: $3.8 billion in spending which requires Parliament\u2019s approval and $1.8 billion for which legislative permission already exists.\n\nIncluding these supplementary estimates, the total proposed year-to-date budgetary authorities are $312 billion, which represents a $21.8 billion (7.5 per cent) increase over the 2018-19 estimates to date.\n\nMajor spending items in these estimates include:\n\n- $919 million to the Department of Crown-Indigenous Relations and Northern Affairs for loan forgiveness and reimbursement for comprehensive land claims negotiations;\n- $487 million to the Department of National Defence for funding capital investments as part of the department\u2019s defence policy, Strong, Secure, Engaged (SSE);\n- $180 million to the Department of Employment and Social Development to write-off unrecoverable debts for Canada Student Loans; and,\n- $950 million in statutory authorities to the Department of Natural Resources for the Green Municipal Fund.\n\nThese estimates will be the last under the temporary change to Standing Order 81, which took effect in 2018-19 and aimed to better align the estimates process with the Budget. As of the 2020-21 fiscal year, the original process will be reintroduced, meaning that the Main Estimates will be tabled prior to the Budget. This will also likely bring back the need for three Supplementary Estimates (in the spring, fall and winter).\n\nAs a result of these changes, all Budget items will be required to go through detailed Treasury Board (a Committee of Ministers chaired by the President of the Treasury Board) scrutiny prior to funding being sought from Parliament. At the same time, this may mean a longer delay between the announcement of new initiatives and their implementation, as the earliest opportunity to receive approval for the funds will be in the spring Supplementary Estimates (A).\n\nPBO also notes that given that the 2018-19 Departmental Results Reports were not presented to Parliament prior to the tabling of the 2019-20 Supplementary Estimates, parliamentarians are required to consider (and approve) the proposed spending without knowing whether any of the organizations achieved their intended results for the previous year.","abstract_fr":"Cette note pr\u00e9sente une analyse d\u00e9taill\u00e9e du deuxi\u00e8me budget suppl\u00e9mentaire des d\u00e9penses du gouvernement pour l\u2019exercice 2019-2020, dans lequel ce dernier demande au Parlement d\u2019approuver des d\u00e9penses de 3,8 milliards de dollars avant le 31 mars 2020.\n\n---\n\nLe Budget suppl\u00e9mentaire des d\u00e9penses (B) d\u00e9pos\u00e9 le 18 f\u00e9vrier 2020 \u00e0 la Chambre des communes porte sur des autorisations budg\u00e9taires suppl\u00e9mentaires totalisant 5,6 milliards de dollars : les autorisations vot\u00e9es, qui doivent \u00eatre approuv\u00e9es par le Parlement, s\u2019\u00e9l\u00e8vent au total \u00e0 3,8 milliards de dollars, tandis que les autorisations l\u00e9gislatives, pour lesquelles le gouvernement a d\u00e9j\u00e0 re\u00e7u la permission de d\u00e9penser du Parlement, se chiffrent \u00e0 1,8 milliard de dollars.\n\nLe montant total des autorisations budg\u00e9taires propos\u00e9es \u00e0 ce jour, y compris le pr\u00e9sent budget suppl\u00e9mentaire des d\u00e9penses, s\u2019\u00e9l\u00e8ve \u00e0 312 milliards de dollars, soit 21,8 milliards de dollars (7,5 %) de plus par rapport au budget des d\u00e9penses \u00e0 ce jour 2018-2019.\n\nParmi les grands postes de d\u00e9penses du pr\u00e9sent budget suppl\u00e9mentaire des d\u00e9penses, mentionnons :\n\n- 919 millions de dollars pour le minist\u00e8re des Relations Couronne\u2011Autochtones et des Affaires du Nord pour la renonciation aux dettes des pr\u00eats relatifs aux n\u00e9gociations des revendications territoriales globales et au remboursement des pr\u00eats repay\u00e9s;\n- 487 millions de dollars pour le minist\u00e8re de la D\u00e9fense nationale pour les d\u00e9penses en immobilisations \u00e0 l\u2019appui de la politique Protection, S\u00e9curit\u00e9, Engagement;\n- 180 millions de dollars pour le minist\u00e8re de l\u2019Emploi et du D\u00e9veloppement social pour la radiation des dettes irr\u00e9couvrables d\u00e9coulant de pr\u00eats d\u2019\u00e9tudes canadiens;\n- 950 millions de dollars pour le minist\u00e8re des Ressources naturelles pour le Fonds municipal vert.\n\nLe pr\u00e9sent budget suppl\u00e9mentaire des d\u00e9penses sera le dernier budget pr\u00e9sent\u00e9 au titre des modifications apport\u00e9es temporairement \u00e0 l\u2019article 81 du R\u00e8glement, qui sont entr\u00e9es en vigueur en 2018-2019 et qui visaient \u00e0 mieux harmoniser le processus budg\u00e9taire et le budget. \u00c0 compter de l\u2019exercice 2020-2021, le processus initial sera r\u00e9introduit, ce qui signifie que le budget principal des d\u00e9penses sera d\u00e9pos\u00e9 avant le budget et qu\u2019il faudra fort probablement pr\u00e9senter \u00e0 nouveau trois budgets suppl\u00e9mentaires des d\u00e9penses (au printemps, \u00e0 l\u2019automne et \u00e0 l\u2019hiver).\n\nEn raison de ces changements, les postes budg\u00e9taires devront faire l\u2019objet d\u2019un examen d\u00e9taill\u00e9 par le Conseil du Tr\u00e9sor (un comit\u00e9 de ministres pr\u00e9sid\u00e9 par le pr\u00e9sident du Conseil du Tr\u00e9sor) avant qu\u2019il soit possible de demander des fonds au Parlement. Parall\u00e8lement, il pourrait s\u2019\u00e9couler plus de temps entre l\u2019annonce de nouvelles initiatives et leur r\u00e9alisation, puisque le budget suppl\u00e9mentaire des d\u00e9penses du printemps (A) sera la premi\u00e8re occasion de faire approuver les fonds.\n\nLe DPB tient aussi \u00e0 faire observer qu\u2019\u00e9tant donn\u00e9 que les rapports sur les r\u00e9sultats minist\u00e9riels 2018-2019 n\u2019ont pas \u00e9t\u00e9 pr\u00e9sent\u00e9s au Parlement avant le d\u00e9p\u00f4t des budgets suppl\u00e9mentaires des d\u00e9penses de 2019-2020, les parlementaires doivent examiner (et approuver) les d\u00e9penses propos\u00e9es sans savoir si les organismes ont atteint les r\u00e9sultats escompt\u00e9s au cours de l\u2019ann\u00e9e pr\u00e9c\u00e9dente.","highlights":null},"bills":[],"bibtex":{"en":"@techreport{PBO-RP1920028S,\n author={Giswold, Jill and Stanton, Jason and Behrend, Robert},\n title={Supplementary Estimates (B) 2019-20},\n institution={The Office of the Parliamentary Budget Officer},\n year=2020,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP1920028S,\n author={Giswold, Jill and Stanton, Jason and Behrend, Robert},\n title={Budget suppl\\\u0027{e}mentaire des d\\\u0027{e}penses (B) 2019-2020},\n institution={Bureau du directeur parlementaire du budget},\n year=2020,\n \n address = \u0022Ottawa, ON\u0022\n}"}} {"id":"RP-1920-025","is_published":"2021-08-06T19:21:15.000000Z","release_date":"2020-02-11T14:00:00.000000Z","updated_at":"2021-08-06T19:23:42.000000Z","type":"RP","internal_id":"RP-1920-025","title_en":"Considerations Regarding the 2020 Tax and Spending Review","title_fr":"Consid\u00e9rations relatives \u00e0 l\u2019examen de 2020 des d\u00e9penses publiques et 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purpose of this report is to provide an initial overview of how the PBO plans to monitor the Government\u2019s plan on achieving its $1.5 billion in annual savings, starting in 2020-21.","abstract_fr":"L\u2019objet de ce rapport est de pr\u00e9senter un aper\u00e7u pr\u00e9liminaire de la fa\u00e7on dont le DPB compte assurer le suivi des mesures annonc\u00e9es par le gouvernement pour r\u00e9aliser des \u00e9conomies annuelles de 1,5 milliard de dollars \u00e0 compter de 2020-2021.","highlights":null},"bills":[],"bibtex":{"en":"@techreport{PBO-RP1920025,\n author={Stanton, Jason},\n title={Considerations Regarding the 2020 Tax and Spending Review},\n institution={The Office of the Parliamentary Budget Officer},\n year=2020,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP1920025,\n author={Stanton, Jason},\n title={Consid\\\u0027{e}rations relatives \\`{a} l\u2019examen de 2020 des d\\\u0027{e}penses publiques et fiscales},\n institution={Bureau du directeur 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