The Green Party of Canada has released a partially costed breakdown of the platform’s commitments, saying that a government led by Annamie Paul would provide $ 210 billion in new spending over the next five years, with no plans to return to it. budget balance before this date.
The Greens say their budget plan will reduce the “nominal deficit” to less than $ 30 billion a year if the economy continues to grow.
According to party documents, the Parliamentary Budget Officer (PBO) only costed some of the party’s promises, leaving two of the biggest programs; long-term care reform and pharmacare, off the list.
The Greens provided their own costs for these programs, saying they will cost $ 107 billion over the next five years, including $ 68.5 billion for long-term care reform and $ 38.5 billion for a new health care program. ‘Drug insurance.
The green platform promises to implement a universal pharmacare program and create a universal long-term care system that would be governed by national standards of care under the Canada Health Act.
The platform also promises to introduce a guaranteed living income that would “provide every Canadian with a basic source of income, ensuring that people can cover basic expenses such as food and shelter.”
The partial costing of the Green Platform’s promises comes on the last day of the election campaign and just 20 minutes before Paul, in British Columbia for the day, shows up at a press conference in Victoria.
Gone to pay for programs with a new tax
The costing document, however, does not provide a cost for a living income guaranteed by the PBO or the party, which raises questions about how it would maintain the fiscal discipline necessary to reduce the deficit to the target. $ 30 billion.
The PBO provided details on what it would cost to write off all student debt and provide free post-secondary education to all Canadians: $ 66 billion over five years, including $ 17.3 in 2021-22.
The PBO also said that funding for the Green Child Care and Early Childhood Education program would cost $ 10.6 billion over five years and spend another 9.2 billion on the Green Climate Fund.
Although these programs are costed on an annual basis, it is still unclear when they will be rolled out across the country.
The party says that pharmacare, a guaranteed living income and post-secondary education without tuition fees will be linked to “Canada’s future economic prospects” and “will expect additional income from measures to increase taxes.” when conditions permit.
“The policy changes proposed in the Green Party of Canada platform will be implemented over time in a way that will not jeopardize the financial viability of federal, provincial and territorial governments,” he said. .
The party says it will pay for these new spending by imposing a 0.5% tax on all financial transactions in Canada, which the PBO says would be $ 146 billion over the next five years.
The PBO says the party will also bring in $ 11.7 billion over five years by eliminating tax deductions and incentives for the oil and gas sector.