Okay, great. Maybe I'll have a little bit of time towards the end.
The Parliamentary Budget Officer published a short update under “additional analyses” on the PBO's website on the day after the 2024 federal budget. That was April 17, 2024. It relates to their often-cited report, “A distributional analysis of federal carbon pricing under A Healthy Environment and a Healthy Economy”.
PBO staff discovered that both the fuel charge and the OBPS—the output-based pricing system—had been removed in the counterfactual scenario. Consequently, estimates of household net costs incorporated fiscal and economic impacts. That was published in their March 2022 and 2023 reports. They reflect the broader economic impact of federal-equivalent carbon pricing.
In essence, it seems that the PBO may have inadvertently exaggerated the impact that carbon pricing would have on household budgets. Despite that, their report still indicated that at least eight out of 10 Canadian families get more money back with the Canada carbon rebate than the price on pollution costs.
I move:
that the committee invite the Parliamentary Budget Officer for one hour to discuss his recent findings in his report and how he plans to correct the record in his fall report.