A Closer Look

Feds’ budget cuts would cost 108,000 fewer jobs to the Canadian economy

The Canadian economy could grow at a slower pace, and have 108,000 fewer jobs as the federal government cuts more than $5 billion in spending and eliminates the deficit by 2015, according to a report from Parliament’s spending watchdog.

The economic and fiscal outlook from Parliamentary Budget Officer Kevin Page,

Canada 2020 Pre-Budget Debate 2010

Canada 2020 Pre-Budget Debate 2010 (Photo credit: canada.2020)

released Wednesday morning, also predicts marginal savings from changing the age of eligibility for Old Age Security.

The Conservative government will cut $5.2-billion from operating spending over the next three years and eliminate 19,200 federal jobs as part of its plan to balance the budget.

Those cuts will allow the government to eliminate the deficit by 2015, just in time for the next federal election, and have a $10.8 billion surplus by the 2016-17 fiscal year — $3 billion more than the government is projecting.

That difference, the PBO argues, should give the government room to either increase spending or cut taxes…


via Feds’ budget cuts would cost growth, 108,000 jobs, spending watchdog warns.

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