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Finance committee  We can certainly provide that.

April 30th, 2019Committee meeting

Yves Giroux

Finance committee  We wanted to look at the impact of the investing in Canada plan, so we focused mostly on this. With respect to the specifics, I think Jason would be in a better position to answer your question.

April 30th, 2019Committee meeting

Yves Giroux

Finance committee  As Jason mentioned, the aim of the report was to look at whether there was indeed incrementality as a result of the federal investments. That was one of the main goals of the federal government's programs when they were announced in 2016. Incrementality at that point was an impor

April 30th, 2019Committee meeting

Yves Giroux

Finance committee  We talk about that in the report. We talk about the distinction the budget makes between departmental spending—which is projected to increase at an annual growth rate of approximately 3%—and spending obligations related to the public service pension and benefits plan—which are ex

April 30th, 2019Committee meeting

Yves Giroux

Finance committee  It has to do with the relative weight given to various factors. I can't speak for private sector economists or the Bank of Canada. As for our office, we expect business investment to pick up during the second half of 2019, with energy prices and the curtailment of Alberta oil pr

April 30th, 2019Committee meeting

Yves Giroux

Finance committee  There are challenges, yes, but it's obvious that this fiscal anchor has been abandoned. There's no doubt about that. In our report, we suggest that the government might want to be more explicit about that and focus instead on the federal debt-to-GDP ratio.

April 30th, 2019Committee meeting

Yves Giroux

Finance committee  You have raised two points. The first is the fact that the federal budget and the estimates will be better aligned, that is to say the parliamentary appropriations which you, as parliamentarians, must make decisions about. I think this is an improvement to transparency. Accordin

April 30th, 2019Committee meeting

Yves Giroux

Finance committee  Yes. It's a big cloud of uncertainty.

April 30th, 2019Committee meeting

Yves Giroux

Finance committee  That's the conclusion we arrived at. We have seen no possibility of balancing the budget in 2019-20. In fact, we see the deficit increasing to $22.3 billion by 2020-21, which is a combination of policy actions that are significant and more than offset positive economic and fiscal

April 30th, 2019Committee meeting

Yves Giroux

Finance committee  We have as a proportion of GDP, which is a useful measure because it puts it into perspective—

April 30th, 2019Committee meeting

Yves Giroux

Finance committee  For the absolute level of debt, we forecast federal debt at $687 billion—

April 30th, 2019Committee meeting

Yves Giroux

Finance committee  —in the previous fiscal year. That's 2018-19, and rising to $766 billion by 2023-24.

April 30th, 2019Committee meeting

Yves Giroux

Finance committee  In 2018-19, we believe they were at $23.4 billion. That's our estimation.

April 30th, 2019Committee meeting

Yves Giroux

Finance committee  The final numbers are not in yet, but they would be rising to almost $34 billion by the end of the forecast period, which is 2023-24.

April 30th, 2019Committee meeting

Yves Giroux

Finance committee  Of government spending...? I'd have to do some mental math, which is always tricky. Chris is much better than me. As a percentage of GDP, it is 1.1% rising to 1.3%, but as a percentage of government expenditures....

April 30th, 2019Committee meeting

Yves Giroux