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Government Operations committee  Yes. As I mentioned, interest on the unmet obligations of the government toward pension plans of its employees also adds to interest on unmatured debt. The debt servicing costs are what really matter, and they are expected to reach $46.5 billion this year.

March 18th, 2024Committee meeting

Yves Giroux

Government Operations committee  That's indeed a very good question. If there are savings that are painless, the question that this raises is why these funds were not saved before. One point that you raised that also concerns me—and I've raised it before—is savings in terms of grants and contributions to organi

March 18th, 2024Committee meeting

Yves Giroux

Government Operations committee  I think it's once we determine or we know which organizations are receiving lower amounts or no grants at all. That's the point at which we'll know the impact on services.

March 18th, 2024Committee meeting

Yves Giroux

Government Operations committee  It probably would require a motion from the committee, as I would not normally look at that granular level of detail.

March 18th, 2024Committee meeting

Yves Giroux

Government Operations committee  Yes, that's a solid interpretation of the conclusions of our successive reports that have estimated the impact of the carbon tax. When we look at the direct costs of the carbon tax, for example when you heat with gas or fill up your car with gas, the indirect costs, for example

March 18th, 2024Committee meeting

Yves Giroux

Government Operations committee  I think it's a bit early to be certain that there won't be any impacts on services. However, based on what the Indigenous Services and the Crown-Indigenous Relations and Northern Affairs departments told us, and based on the information that was provided, it seems that the savin

March 18th, 2024Committee meeting

Yves Giroux

Government Operations committee  I'll have to go back.... Jill tells me.... Go ahead, Jill.

March 18th, 2024Committee meeting

Yves Giroux

Government Operations committee  This indicates that the main estimates you are being asked to approve as parliamentarians present only a very partial picture of the government's plan. It contains the budget appropriations you are being asked to approve, but none of the budget initiatives. So it's a very partial

March 18th, 2024Committee meeting

Yves Giroux

Government Operations committee  Yes, it's a little backwards, at least in terms of the supply procedure for departments and agencies, since you are being asked to approve most of the funding for departments before the federal budget, that is to say the government's budget plan, is tabled.

March 18th, 2024Committee meeting

Yves Giroux

Government Operations committee  A number of measures have been introduced over the years. Some of them were related to COVID‑19, obviously, and they expired. In previous documents, it was estimated that a good part of the budget flexibility over the years, $180 billion out of some $500 billion, as I recall, app

March 18th, 2024Committee meeting

Yves Giroux

Government Operations committee  We've seen, either in the main or in the supplementary estimates, that benefits for seniors will amount to about $81 billion this year, and they're expected to rise to more than $90 billion over the foreseeable future. By 2028-29, they're expected to reach $99.7 billion. They're

March 18th, 2024Committee meeting

Yves Giroux

Government Operations committee  Yes. The aging population obviously has an impact on the long-term sustainability of all levels of government in the country, including the federal and provincial governments. However, we find that the federal government, because of the nature of its own spending, is still sustai

March 18th, 2024Committee meeting

Yves Giroux

Government Operations committee  We have not done a recent update, since April 2022, of the Government of Canada's spending on military expenditures as a share of GDP. That's something we are considering doing. It's not as straightforward as it may sound, because the NATO definition not only includes spending

March 18th, 2024Committee meeting

Yves Giroux

Government Operations committee  The Government of Canada may have, but we have not updated that figure since the last time we published it in 2022.

March 18th, 2024Committee meeting

Yves Giroux

Government Operations committee  We estimate that this year's spending on debt servicing costs will be about $46 billion, and with the interest rate increases and the time it takes for the impact to be fully felt on the stock of debt as government debt gets refinanced progressively, we expect that amount to incr

March 18th, 2024Committee meeting

Yves Giroux