[{"label":"Home","url":"https:\/\/www.pbo-dpb.ca\/en"},{"label":"Team","url":"https:\/\/www.pbo-dpb.ca\/en\/staff--equipe","section":{"id":1,"title_en":"About","title_fr":"\u00c0 propos"}},{"label":"R\u00e9gine Cl\u00e9ophat","url":"https:\/\/www.pbo-dpb.ca\/en\/staff--equipe\/regine-cleophat","section":{"id":1,"title_en":"About","title_fr":"\u00c0 propos"}}]

Régine Cléophat

Analyst

Régine is an Economic Analyst with the Parliamentary Budget Office. Régine holds an MSc. in Applied Economics and a B.B.A in Finance from HEC Montréal.

Prior to joining the PBO, Régine has held various teaching assistant positions at the undergraduate and graduate levels at HEC Montréal. She has also worked at the CNESST - Labour Board Division as an inspector.

Latest publications

{"id":"RP-2425-018-S","is_published":"2024-10-17T12:57:02.000000Z","release_date":"2024-10-17T13:00:00.000000Z","title_en":"Economic and Fiscal Outlook \u2013 October 2024","title_fr":"Perspectives \u00e9conomiques et financi\u00e8res \u2013 octobre 2024","internal_id":"RP-2425-018-S","metadata":{"abstract_en":"This report provides a baseline projection to help parliamentarians gauge potential economic and fiscal outcomes under current policy settings.","abstract_fr":"Le pr\u00e9sent rapport fournit une projection de r\u00e9f\u00e9rence pour aider les parlementaires \u00e0 \u00e9valuer les r\u00e9sultats \u00e9conomiques et budg\u00e9taires possibles dans le cadre des politiques actuelles.","highlights":[{"content":{"en":"PBO projects growth in the Canadian economy to remain tepid in 2024. Interest rates will continue to restrain growth in consumer spending and business investment. We expect real GDP growth will rebound to 2.2 per cent in 2025, as lower borrowing costs provide a boost to consumer spending and business investment, and exports pickup.","fr":"Le DPB pr\u00e9voit que la croissance de l\u2019\u00e9conomie canadienne demeurera modeste en 2024. Les taux d\u2019int\u00e9r\u00eat continueront de freiner la croissance des d\u00e9penses de consommation et des investissements des entreprises. Nous nous attendons \u00e0 ce que la croissance du produit int\u00e9rieur brut (PIB) r\u00e9el rebondisse \u00e0 2,2 % en 2025, car la baisse des co\u00fbts d\u2019emprunt stimule les d\u00e9penses de consommation et les investissements des entreprises, et encourage la reprise des exportations."}},{"content":{"en":"With the ongoing excess supply in the economy, consumer price index (CPI) inflation is on track to return to its 2 per cent target. We anticipate the Bank of Canada will continue to gradually reduce its policy rate until it reaches its estimated neutral level of 2.75 percent in the second quarter of 2025.","fr":"Compte tenu de l\u2019offre exc\u00e9dentaire persistante au sein de l\u2019\u00e9conomie, l\u2019inflation mesur\u00e9e par l\u2019Indice des prix \u00e0 la consommation est en voie de revenir \u00e0 sa cible de 2 %. Nous pr\u00e9voyons que la Banque du Canada continuera de r\u00e9duire progressivement son taux directeur jusqu\u2019\u00e0 ce qu\u2019il atteigne son niveau neutre estim\u00e9 \u00e0 2,75 % au deuxi\u00e8me trimestre de 2025."}},{"content":{"en":"We estimate that there was a budgetary deficit of $46.8 billion (1.6 per cent of GDP) in 2023-24. For the current fiscal year, 2024-25, PBO projects the budgetary deficit to slightly decline to $46.4 billion (1.5 per cent of GDP) under status quo policy. Assuming no new measures are introduced, and existing temporary measures sunset as scheduled, the deficit is projected to resume its downward trajectory, falling to $22.5 billion (0.6 per cent of GDP) in 2029-30.","fr":"Nous estimons qu\u2019il y avait un d\u00e9ficit budg\u00e9taire de 46,8 milliards de dollars (1,6 % du PIB) en 2023-2024. Pour l\u2019exercice financier en cours, soit 2024-2025, le DPB pr\u00e9voit que le d\u00e9ficit budg\u00e9taire diminuera l\u00e9g\u00e8rement \u00e0 46,4 milliards de dollars (1,5 % du PIB) dans le cadre d\u0027une politique de statu quo. En supposant qu\u2019aucune nouvelle mesure ne soit prise et que les mesures temporaires existantes prennent fin comme pr\u00e9vu, le d\u00e9ficit budg\u00e9taire devrait revenir sur sa trajectoire descendante et passer \u00e0 22,5 milliards de dollars (0,6 % du PIB) en 2029-2030."}},{"content":{"en":"PBO expects the federal debt-to-GDP ratio to be 42.2 per cent in 2023-24 and 2024-25. Assuming no new measures and existing temporary measures sunset as scheduled, the federal debt ratio is projected to fall to 39.0 per cent in 2029-30, well above its pre-pandemic level of 31.2 per cent of GDP in 2019-20.","fr":"Le DPB pr\u00e9voit que le ratio de la dette f\u00e9d\u00e9rale au PIB restera \u00e0 42,2 % en 2024-2025. En supposant qu\u2019aucune nouvelle mesure ne soit prise et que les mesures temporaires existantes prennent fin comme pr\u00e9vu, le ratio de la dette f\u00e9d\u00e9rale devrait atteindre 39,0 % en 2029-2030, ce qui est bien sup\u00e9rieur \u00e0 son niveau d\u2019avant la pand\u00e9mie, qui \u00e9tait de 31,2 % du PIB en 2019-2020."}},{"content":{"en":"PBO projects the debt service ratio (that is, public debt charges relative to total revenues) to rise to 10.6 in 2024-25 from 10.3 per cent in 2023-24. As the effective interest rate on debt edges higher in 2024-25, we project the debt service ratio to increase further and reach 11.2 per cent in 2029-30\u2014well above its pre-pandemic record low of 7.0 per cent in 2018-19.","fr":"Le DPB pr\u00e9voit que le ratio du service de la dette (soit le rapport entre les frais de la dette publique et les recettes totales) passera \u00e0 10,6 % en 2024-2025, alors qu\u2019il s\u2019\u00e9tablissait \u00e0 10,3 % en 2023-2024. Comme le taux d\u2019int\u00e9r\u00eat effectif sur la dette est l\u00e9g\u00e8rement plus \u00e9lev\u00e9 en 2024-2025, nous pr\u00e9voyons que le ratio du service de la dette augmentera encore et qu\u2019il atteindra 11,2 % en 2029-2030, soit bien au dessus de son creux record de 7,0 % enregistr\u00e9 avant la pand\u00e9mie en 2018-2019."}}]},"updated_at":"2024-10-17T12:57:02.000000Z","type":"RP","slug":"RP-2425-018-S--economic-fiscal-outlook-october-2024--perspectives-economiques-financieres-octobre-2024","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2425-018-S--economic-fiscal-outlook-october-2024--perspectives-economiques-financieres-octobre-2024","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2425-018-S--economic-fiscal-outlook-october-2024--perspectives-economiques-financieres-octobre-2024"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2425-018-S--economic-fiscal-outlook-october-2024--perspectives-economiques-financieres-octobre-2024","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2425-018-S--economic-fiscal-outlook-october-2024--perspectives-economiques-financieres-octobre-2024"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/78ce079f881ed107be7389eca371c9c0b21752840065265538f30a75466327d0"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/17e763792632c01620f1be9013979a56278f652c6ac6c3bbbffdfa5c47ba76e7"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/2227ae47016244d7fee6979ff55819dcb53a12859eb1cad58eda51e4e02693eb","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f6cc3cc16c055321966c155117bd8575a3b39b5a111db7d24b971fc55f4fae72","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d94c00f588acaf2837e7f7fe9a8074d6d18a092766ac0c0381446bb6bea46cbe","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/71a466f30c420eaa90bc7d53c42a853930242594d1e357e88c47619b3ec85f78","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5d029a2ada90cd0b8ad1e0ff0670fb2699006a85fa494976d25b358ca06e04b5","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/40e014410224941454565d72f05e42781305917f04385a6f96fb9d73cf1f5b99","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0014eeb7527086482703320a87481ebaa58838710c878ba50e918d40eb36e001","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/27a7b5cf8a2a9d6030896935105ed5322d03659942d6302299f901dd4d5e7b58"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/9cc31e3071cdd2ed8031d0508f7bc7c32f9d24e16c1a5716cc5036aec5d1e27e","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/bfdd900a0556836b9c37ce2d272d4ab95b075b4f98e79a55f074bd172129b6a4","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3ef5173adc96a6755a37f3c3423399dc6cd7a0d0d73ad634770a2f17dea8cb04","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4319f07362f23fde8ef5e89ccdd7db90da89fb7088461604dbd28401aa679049","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/16b425b08a6ab3f885215e818f5651d3d1b0a01985d4a7504d6ef10bf16377f3","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a4939d014cfac1a212b106edcb9bbf9c511a4b918191acdf339ca50675152ff8","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c8edc32eaeb43dd766d9732cc6bd78b5b41317afa461077c610a17a27d116b54","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/eb1d8dc3dfc3f1729604a2d931f6ee96539be90eac2b435efcc202ad1d019963"}}},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2425018S,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Dong, Matt and Elmarzougui, Eskandar and Kho, Albert and Laurin, Marianne and McGoey, Matthew and Michalyshyn, Katarina and Nahornick, Nora and Nicol, Caroline and Robert-Lacroix, Ulysse and Stanton, Jason and Vrhovsek, Zachary and Matier, Chris},\n title={Economic and Fiscal Outlook - October 2024},\n institution={The Office of the Parliamentary Budget Officer},\n year=2024,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2425018S,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Dong, Matt and Elmarzougui, Eskandar and Kho, Albert and Laurin, Marianne and McGoey, Matthew and Michalyshyn, Katarina and Nahornick, Nora and Nicol, Caroline and Robert-Lacroix, Ulysse and Stanton, Jason and Vrhovsek, Zachary and Matier, Chris},\n title={Perspectives \\\u0027{e}conomiques et financi\\`{e}res - octobre 2024},\n institution={Bureau du directeur parlementaire du budget},\n year=2024,\n \n address = \u0022Ottawa, ON\u0022\n}"}}

{"id":"RP-2425-016-S","is_published":"2024-10-08T12:57:03.000000Z","release_date":"2024-10-08T13:00:00.000000Z","title_en":"A Distributional Analysis of the Purchasing Power of Canadian Households Since 2019","title_fr":"Analyse distributive du pouvoir d\u2019achat des m\u00e9nages canadiens depuis 2019","internal_id":"RP-2425-016-S","metadata":{"abstract_en":"To study the discrepancies in the evolution of the purchasing power of Canadian households, this report provides a distributional analysis of inflation and Canadian household incomes since the start of the COVID-19 pandemic. Our analysis also includes a snapshot of purchasing power at the provincial and territorial level.","abstract_fr":"Afin d\u2019\u00e9tudier les divergences dans l\u2019\u00e9volution du pouvoir d\u2019achat des m\u00e9nages canadiens, ce rapport pr\u00e9sente une analyse distributive de l\u2019inflation et des revenus des m\u00e9nages canadiens depuis le d\u00e9but de la pand\u00e9mie de la COVID-19. Notre analyse inclut aussi un portrait du pouvoir d\u2019achat au niveau provincial et territorial.","highlights":[{"content":{"en":"In the first quarters of the COVID 19 pandemic, prices rose well below the Bank of Canada\u2019s 2% inflation target, while household incomes were supported by government transfers, leading to improved purchasing power for all income quintiles.","fr":"Durant les premiers trimestres de la pand\u00e9mie de la COVID-19, les prix ont cru bien en de\u00e7\u00e0 de la cible d\u2019inflation de 2 % de la Banque du Canada alors que les revenus des m\u00e9nages ont \u00e9t\u00e9 soutenus par les transferts gouvernementaux, entra\u00eenant une am\u00e9lioration du pouvoir d\u2019achat pour tous les quintiles de revenu."}},{"content":{"en":"The purchasing power of most households was higher in the first quarter of 2024 than in the last quarter of 2019. However, since 2022, rising inflation and tighter monetary policy have eroded purchasing power, particularly among lower-income households.","fr":"Au premier trimestre de 2024, le pouvoir d\u2019achat de la majorit\u00e9 des m\u00e9nages est demeur\u00e9 plus \u00e9lev\u00e9 que son niveau observ\u00e9 au dernier trimestre de 2019. Toutefois, depuis 2022, la mont\u00e9e de l\u2019inflation et le resserrement de la politique mon\u00e9taire ont entra\u00een\u00e9 une d\u00e9t\u00e9rioration du pouvoir d\u2019achat, affectant particuli\u00e8rement les m\u00e9nages les moins nantis."}},{"content":{"en":"Due to the composition of their family wealth, the investment income of households in the highest quintile grew faster than their interest payments. Because this net increase in income outpaced inflation, the average purchasing power of these households improved in 2023.","fr":"En raison de la composition de leur patrimoine familial, les m\u00e9nages du quintile sup\u00e9rieur ont vu leurs revenus d\u2019investissements cro\u00eetre au-del\u00e0 de leurs paiements d\u2019int\u00e9r\u00eat. Cette augmentation nette du revenu \u00e9tant sup\u00e9rieure \u00e0 l\u2019inflation, le pouvoir d\u2019achat moyen de ces m\u00e9nages s\u2019est am\u00e9lior\u00e9 en 2023."}},{"content":{"en":"For households in the other income quintiles, interest payment increases were higher on average than investment income payments in 2023. As a result, the average purchasing power of households in the third and fourth quintiles stagnated, while it deteriorated for the two lowest quintiles.","fr":"Quant aux m\u00e9nages des autres quintiles de revenu, les augmentations des paiements d\u2019int\u00e9r\u00eats ont \u00e9t\u00e9, en moyenne, sup\u00e9rieures \u00e0 celles des revenus d\u2019investissement pour l\u2019ann\u00e9e 2023. Ainsi, le pouvoir d\u2019achat moyen des m\u00e9nages du troisi\u00e8me et quatri\u00e8me quintile a stagn\u00e9 alors que celui des deux quintiles inf\u00e9rieurs s\u2019est d\u00e9t\u00e9rior\u00e9."}},{"content":{"en":"Purchasing power trends varied from province to province. Quebec, Ontario and British Columbia are among the provinces that saw an increase in purchasing power, while Newfoundland and Labrador, Nova Scotia and Alberta saw a decline. For these provinces, inflation offset the increase in disposable income. As for the territories, purchasing power for all households was among the highest in Canada since the last quarter of 2019.","fr":"Le pouvoir d\u2019achat a \u00e9volu\u00e9 de fa\u00e7on disparate d\u2019une province \u00e0 une autre. Le Qu\u00e9bec, l\u2019Ontario et la Colombie-Britannique sont parmi les provinces qui ont connu une augmentation de leur pouvoir d\u2019achat alors que Terre-Neuve-et-Labrador, la Nouvelle-\u00c9cosse et l\u2019Alberta ont souffert d\u2019une d\u00e9t\u00e9rioration de celui-ci. Pour ces derniers, l\u2019inflation a effac\u00e9 l\u2019avanc\u00e9e du revenu disponible. Dans les territoires, le pouvoir d\u2019achat de l\u2019ensemble des m\u00e9nages a connu l\u2019une des meilleures progressions au Canada depuis le dernier trimestre de 2019."}}]},"updated_at":"2024-10-10T15:13:26.000000Z","type":"RP","slug":"RP-2425-016-S--distributional-analysis-purchasing-power-canadian-households-since-2019--analyse-distributive-pouvoir-achat-menages-canadiens-depuis-2019","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2425-016-S--distributional-analysis-purchasing-power-canadian-households-since-2019--analyse-distributive-pouvoir-achat-menages-canadiens-depuis-2019","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2425-016-S--distributional-analysis-purchasing-power-canadian-households-since-2019--analyse-distributive-pouvoir-achat-menages-canadiens-depuis-2019"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2425-016-S--distributional-analysis-purchasing-power-canadian-households-since-2019--analyse-distributive-pouvoir-achat-menages-canadiens-depuis-2019","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2425-016-S--distributional-analysis-purchasing-power-canadian-households-since-2019--analyse-distributive-pouvoir-achat-menages-canadiens-depuis-2019"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/6edb20c1acaacc6cdcdfae3d8cd266902d19d6592d3d3292b2543848006d92d3"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/0fb92a4deb904c298b949550d84ccb715cfa427288365e674976a36860efbb12"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/dff2b4103229c7ef33754401d97c53496c610108d7da777637a812d7ee96cded","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3f81bcd2590f998ffa1e7a937fd667994e589120c365387eccbbbe26936b3713","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d3580a4f11acf76b50e031ebc72cf4014c781a64d6196d484915d9c1b75d6856","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/61684b5c7d2c97c9aa007de9e772122dc50fb6c6b27f6758d6bc1bef5590fc2e","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/449c463aca34dd08a93c5726ccd631903a0d6fb43f3326f2334b37a40f7fff54","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/8bc182ddfc388b099935b904fd255ec440c5702beec5587870d17875e2ac04b9","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/05949357ffd9649177fd3fea7988735e3cf6d61d3d7828eb417acb58cd687080","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/231a8e25ac2303f3df6797ecb5968aadc592737c7fec4a77d6b3d126410fffba"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/51dd531c57a051ba7e744c6b5a64a25441ba584731f79e5251a35cb7c12f7638","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0cb5ca7b331e01ce64a199a9525a152033834d6004bfc760f5b79b13a8f8ef07","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/89a1517e6a7756a8162a608598dff0c3b856e76d63d8d9ca94b8c51721be21df","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/899c970a283ed293cc1b6b389862a001f391788d398dd37623e080e338f2f189","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/535503386f618e75012435178eeeee9ca4585ee193cd065cb9fbbadecfaf9b45","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b425ab69d791b7468efd7ab09a59ec7a4accc9d49c503400fb01d9d4dfd4f877","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/120ac28ca742c6d19bd1c782f156f2fe9296841b8255995c1ea7e7cadb41e469","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/599f80c825cc8e39fb991ac7e27151437e8cf62e1411f839d0e2c0724ce5cd11"}}},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2425016S,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Nicol, Caroline},\n title={A Distributional Analysis of the Purchasing Power of Canadian Households Since 2019},\n institution={The Office of the Parliamentary Budget Officer},\n year=2024,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2425016S,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Nicol, Caroline},\n title={Analyse distributive du pouvoir d\u2019achat des m\\\u0027{e}nages canadiens depuis 2019},\n institution={Bureau du directeur parlementaire du budget},\n year=2024,\n \n address = \u0022Ottawa, ON\u0022\n}"}}

{"id":"RP-2425-014-S","is_published":"2024-08-28T12:57:06.000000Z","release_date":"2024-08-28T13:00:00.000000Z","title_en":"Fiscal Sustainability Report 2024","title_fr":"Rapport sur la viabilit\u00e9 financi\u00e8re de 2024","internal_id":"RP-2425-014-S","metadata":{"abstract_en":"This report provides PBO\u2019s assessment of the sustainability of government finances over the long term for the federal government, subnational governments and public pension plans.","abstract_fr":"Dans le rapport qui suit, le DPB pr\u00e9sente son \u00e9valuation de la viabilit\u00e9 financi\u00e8re \u00e0 long terme du gouvernement f\u00e9d\u00e9ral, des administrations infranationales et des r\u00e9gimes de retraite g\u00e9n\u00e9raux.","highlights":[{"content":{"en":"From the perspective of the total general government sector, that is federal and subnational governments and public pension plans combined, current fiscal policy in Canada is sustainable over the long term. Relative to the size of the Canadian economy, total general government net debt is projected to decline steadily over the long term due to fiscal room at the federal level and to rising net asset positions in the public pension plans.","fr":"En ce qui concerne le secteur des administrations publiques consid\u00e9r\u00e9es comme un tout, c\u2019est-\u00e0-dire le gouvernement f\u00e9d\u00e9ral, les administrations infranationales et les r\u00e9gimes de retraite g\u00e9n\u00e9raux pris ensemble, la politique budg\u00e9taire actuelle au Canada est viable \u00e0 long terme. Par rapport \u00e0 la taille de l\u2019\u00e9conomie canadienne, la dette publique g\u00e9n\u00e9rale nette devrait diminuer progressivement \u00e0 long terme en raison de la marge de man\u0153uvre financi\u00e8re au niveau f\u00e9d\u00e9ral et de l\u2019am\u00e9lioration de la situation de l\u2019actif net des r\u00e9gimes de retraite publics."}},{"content":{"en":"Current fiscal policy at the federal level is sustainable over the long term. We estimate that the federal government could permanently increase spending or reduce taxes by 1.5 per cent of GDP ($46 billion in current dollars, growing in line with GDP thereafter) while maintaining fiscal sustainability.","fr":"La politique budg\u00e9taire f\u00e9d\u00e9rale actuelle est viable \u00e0 long terme. Nous estimons que le gouvernement f\u00e9d\u00e9ral pourrait augmenter ses d\u00e9penses ou r\u00e9duire les imp\u00f4ts de 1,5 % du PIB (46 milliards de dollars en dollars courants, augmentant par la suite au rythme du PIB) tout en demeurant viable sur le plan budg\u00e9taire."}},{"content":{"en":"For the subnational government sector, which includes provincial-territorial, local and Indigenous governments, current fiscal policy is sustainable over the long term. Under current policy, projected subnational government revenues and program spending are sufficient to keep the subnational government net debt-to-GDP ratio below its 2023 level over the 75-year projection horizon.","fr":"Pour ce qui est des administrations infranationales, qui comprennent les administrations provinciales-territoriales, locales et autochtones, les politiques budg\u00e9taires actuelles sont viables \u00e0 long terme. Selon la politique actuelle, les revenus et les d\u00e9penses de programmes pr\u00e9vus des administrations infranationales sont suffisantes pour maintenir le ratio de la dette nette par rapport au PIB des administrations infranationales en dessous de son niveau de 2023 pour l\u2019horizon de 75 ans."}},{"content":{"en":"The current structure of the Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) is sustainable over the long term. Under the current structure of the plans, projected contributions and benefits are sufficient to ensure that the net asset-to-GDP position is above its 2023 value after 75 years.","fr":"La structure actuelle tant du R\u00e9gime de pensions du Canada (RPC) que du R\u00e9gime de rentes du Qu\u00e9bec (RRQ) est viable \u00e0 long terme. Avec la structure actuelle des r\u00e9gimes, les cotisations et les prestations pr\u00e9vues sont suffisantes pour garantir que la position nette de l\u2019actif par rapport au PIB est sup\u00e9rieure \u00e0 sa valeur de 2023 apr\u00e8s 75 ans."}}]},"updated_at":"2024-08-28T15:28:11.000000Z","type":"RP","slug":"RP-2425-014-S--fiscal-sustainability-report-2024--rapport-viabilite-financiere-2024","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2425-014-S--fiscal-sustainability-report-2024--rapport-viabilite-financiere-2024","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2425-014-S--fiscal-sustainability-report-2024--rapport-viabilite-financiere-2024"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2425-014-S--fiscal-sustainability-report-2024--rapport-viabilite-financiere-2024","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2425-014-S--fiscal-sustainability-report-2024--rapport-viabilite-financiere-2024"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/17e59c636036ab66462ec8f935c66672f417b0049e135c8a3fee279aa33b719e"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/c929dc790c39be70bbf68c688da0acdd6b2e82dff8431f93c42da807d132334f"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5745fff800723f9c46c24f4b335cb13d575250429408f880e64e393aa3241d15","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/ac93ab2effb4ce8c070e641ad683a41f407cacc359cf087ca670b846167dd229","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/48d912c1374f66cdecec0570edee2b59af4dcecbb0269636e83229de1eb2b941","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b5ba91d53481df7da8b586481597c7dc5ff28e32962636737bb093212ec0d48b","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f846338280998ff698a07f89abf9f2af88df3c9537f4ca6a35124b6062d21041","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b82e08bf27188b942f2d746679992d10934af4343f85074ebc189f0bd9da2b8c","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/7e03b9657c21d3042718f574a236fe9bd1008b945313f744cdbf724c35d9a9b8","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/39b91dc5dcfc0e2d23a96d1babced62c2c4fa5319c735c35a6570d6444ed08f4"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/aa1c5147ce20f3aa9dd4d014350fddc50a7f6c45de2434f44cbf7a55da88b7ac","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/9f2de4edc248bf1f9981090de3bfb30d24a6bdd0ee8999d3fff1059c64fff804","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/16617de4ea5dd5257bd56cec7d387842c190e781084df42e383db37d788c350f","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a1a70b33a7631777879323744d8f4b035cebd9dff99653c6052d5f7a46b80130","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/dd236d1ec5b79a8e525f5c4e7c813789016882ee8462dc27a8d39d96b39d2525","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f9b79c819055adbf4c783549b1e79d5db253bce2117032f06970deec8d98ac94","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/2740d049ac02ffc3d99fa79442e4d9d7eea9f37e35d52ddb77004132be6054b0","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b7965b744c3a7bd2267bbebd74242b5decaaa626d0ac458fee75f5e27646b355"}}},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2425014S,\n author={Barkova, Lisa and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Kho, Albert and Laurin, Marianne and Matier, Chris and Nahornick, Nora and Nicol, Caroline and Stanton, Jason},\n title={Fiscal Sustainability Report 2024},\n institution={The Office of the Parliamentary Budget Officer},\n year=2024,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2425014S,\n author={Barkova, Lisa and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Kho, Albert and Laurin, Marianne and Matier, Chris and Nahornick, Nora and Nicol, Caroline and Stanton, Jason},\n title={Rapport sur la viabilit\\\u0027{e} financi\\`{e}re de 2024},\n institution={Bureau du directeur parlementaire du budget},\n year=2024,\n \n address = \u0022Ottawa, ON\u0022\n}"}}

{"id":"LEG-2425-001-S","is_published":"2024-04-19T12:57:06.000000Z","release_date":"2024-04-19T13:00:00.000000Z","title_en":"Estimated revenues from the Underused Housing Tax","title_fr":"Estimation des recettes tir\u00e9es de la taxe sur les logements sous-utilis\u00e9s","internal_id":"LEG-2425-001-S","metadata":{"abstract_en":"The Underused Housing Tax (UHT) is an annual federal 1% tax on the ownership of vacant or underused housing in Canada that took effect on January 1, 2022. Since then, there has been continued interest by Parliamentarians on the expected revenues generated by the UHT. Furthermore, in November 2023 the Department of Finance release legislative and regulatory proposals designed to facilitate compliance with the UHT.\n\nThe PBO estimates that the revenues generated from this tax will be $131.7 million in fiscal year 2023-24 and $693.9 million over a 5-year period.","abstract_fr":"La taxe sur les logements sous-utilis\u00e9s (TLSU), une taxe f\u00e9d\u00e9rale annuelle de 1 % impos\u00e9e aux propri\u00e9taires de logements vacants ou sous-utilis\u00e9s au Canada, est entr\u00e9e en vigueur le 1er janvier 2022. Depuis, les parlementaires manifestent un int\u00e9r\u00eat soutenu pour les recettes que cette taxe devrait g\u00e9n\u00e9rer. En outre, en novembre 2023, le minist\u00e8re des Finances a publi\u00e9 des propositions l\u00e9gislatives et r\u00e9glementaires visant \u00e0 faciliter l\u2019observation du r\u00e9gime de la TLSU.\n\nLe DPB estime que les revenus g\u00e9n\u00e9r\u00e9s par cette taxe s\u2019\u00e9l\u00e8veront \u00e0 131,7 millions de dollars pour l\u2019exercice financier 2023-2024 et \u00e0 693,9 millions de dollars sur une p\u00e9riode de cinq ans.","highlights":[]},"updated_at":"2024-04-19T12:57:06.000000Z","type":"LEG","slug":"LEG-2425-001-S--estimated-revenues-from-underused-housing-tax--estimation-recettes-tirees-taxe-logements-sous-utilises","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/LEG-2425-001-S--estimated-revenues-from-underused-housing-tax--estimation-recettes-tirees-taxe-logements-sous-utilises","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/LEG-2425-001-S--estimated-revenues-from-underused-housing-tax--estimation-recettes-tirees-taxe-logements-sous-utilises"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/LEG-2425-001-S--estimated-revenues-from-underused-housing-tax--estimation-recettes-tirees-taxe-logements-sous-utilises","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/LEG-2425-001-S--estimated-revenues-from-underused-housing-tax--estimation-recettes-tirees-taxe-logements-sous-utilises"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/8816d355e7da6f2dbc2cb0fa823a8e5a43ba0f2bf6d2fbad84bf69ea0477206c"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/11a97a6a8ea561b544fed7da72b1ed06c7201483881bb4a277ee86e8a05e91d0"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0a06c1f851301955897f64cca396de8e0a920fe1e4560144c8e45c1c8a03d9ed","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/1214a1bf8062cb0dc542abdf2232ab1f88fae4917b8451fae2268f6d8546514d","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b1c514e7fe1a9a3dbc878611df3bbc6ac830f7441fb18a4baba485497e2b3d95","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/19c32998f0ab736080e9c0b8e48b5458dde391e6eb5f2fdbe2e35289ae9b013b","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0400d24a6edc9f04188ad83d991f828eeb4028388baad935570f7391a02b76b6","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/7e2084b13f620315dcc5fe850ac9e202fcf60f0fa23c5141e357f42617d61083","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6663e95a135299ce69335d6474008b84163cb000b5921aaa231acae8b2318ccc","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/161f1aa978168874d4b41139ad72a53082403956934df75fe80025e5c92d0d1f"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4b0cd76a32fee72016ca385c3f3eb77b1f5501cfb829dd4e32ce41e93a184c1d","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/43d2b368bf944bce58659ffdc6b3ae0162ed382ca8f36750b39bc2430880f0e3","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/1a84a42040a3dc158c6bb149d645d4c1e6938546eeda7a257a21f4fc63b83102","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/2437db45a7c9f5b8c434b03fecf9f1736c94f265b55542d798a81008ac866ad4","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a346addf53c44261255df18ed22a2233880df9adf48fff0f08ce2779bb4396df","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/7f52f8cefa1dca12eeb452ce601aa3f3e8dfc7ae47121b4d9ce400673d5e5467","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/1f0324cb95484c26ddda6879101518aed08773b9edfd43a68532d4770ba6e461","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d8a2ed728cf9b3dfb7c74b582cec2a9709ab3f072f5754124c28785d283f5530"}}},"bills":[],"bibtex":{"en":"@techreport{PBO-LEG2425001S,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Perrault, Louis},\n title={Estimated revenues from the Underused Housing Tax},\n institution={The Office of the Parliamentary Budget Officer},\n year=2024,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-LEG2425001S,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Perrault, Louis},\n title={Estimation des recettes tir\\\u0027{e}es de la taxe sur les logements sous-utilis\\\u0027{e}s},\n institution={Bureau du directeur parlementaire du budget},\n year=2024,\n \n address = \u0022Ottawa, ON\u0022\n}"}}

{"id":"RP-2324-027-S","is_published":"2024-03-05T13:57:09.000000Z","release_date":"2024-03-05T14:00:00.000000Z","title_en":"Economic and Fiscal Outlook \u2014 March 2024","title_fr":"Perspectives \u00e9conomiques et financi\u00e8res \u2014 Mars 2024","internal_id":"RP-2324-027-S","metadata":{"abstract_en":"This report provides a baseline projection to help parliamentarians gauge potential economic and fiscal outcomes under current policy settings.","abstract_fr":"Ce rapport fournit une projection de base pour aider les parlementaires \u00e0 \u00e9valuer les r\u00e9sultats \u00e9conomiques et budg\u00e9taires potentiels dans le contexte actuel des politiques.","highlights":[{"content":{"en":"The Parliamentary Budget Officer (PBO) projects growth in the Canadian economy to remain sluggish through 2024. Restrictive monetary policy is expected to restrain growth in consumer spending in the first half of the year and to dampen residential investment over the course of this year. Inventory investment is projected to subtract from growth as businesses pullback on their stock building.","fr":"Le directeur parlementaire du budget (DPB) s\u2019attend \u00e0 ce que la croissance de l\u2019\u00e9conomie canadienne demeure l\u00e9thargique tout au long de 2024. La politique mon\u00e9taire restrictive devrait limiter la croissance des d\u00e9penses de consommation au cours de la premi\u00e8re moiti\u00e9 de l\u2019ann\u00e9e et freiner l\u2019investissement r\u00e9sidentiel tout au long de celle-ci. L\u2019investissement en stocks devrait freiner la croissance \u00e0 mesure que les entreprises reculent dans la constitution de leurs stocks."}},{"content":{"en":"As excess supply in the economy increases and commodity prices continue to weaken, PBO projects that Consumer price index (CPI) inflation will return to its 2 per cent target by the end of 2024. With CPI inflation on track to return to target later this year, we continue to expect the Bank of Canada to start lowering its policy rate in April.","fr":"Avec l\u2019augmentation de l\u2019offre exc\u00e9dentaire dans l\u2019\u00e9conomie et la baisse des prix des produits de base, le DPB pr\u00e9voit que l\u2019inflation de l\u2019indice des prix \u00e0 la consommation (IPC) reviendra \u00e0 sa cible de 2 % d\u2019ici la fin de 2024. L\u2019inflation de l\u2019IPC \u00e9tant en bonne voie de revenir \u00e0 sa cible plus tard cette ann\u00e9e, nous nous attendons toujours \u00e0 ce que la Banque du Canada commence \u00e0 baisser son taux directeur en avril."}},{"content":{"en":"PBO projects the budgetary deficit to rise to $46.8 billion (1.6 per cent of the Gross domestic product (GDP)) in 2023-24 from the $35.3 billion (1.3 per cent of GDP) deficit recorded in 2022\u201123. Assuming no new measures are introduced, and existing temporary measures sunset as scheduled, the deficit is projected to resume its downward trajectory, falling to $16.9 billion (0.5 per cent of GDP) in 2028-29.","fr":"Le DPB s\u2019attend \u00e0 ce que le d\u00e9ficit budg\u00e9taire augmente \u00e0 46,8 milliards de dollars (1,6 % du produit int\u00e9rieur brut (PIB)) en 2023-2024 par rapport au d\u00e9ficit de 35,3 milliards de dollars (1,3 % du PIB) enregistr\u00e9 en 2022-2023. En supposant qu\u2019aucune nouvelle mesure ne soit prise et que les mesures temporaires existantes prennent fin comme pr\u00e9vu, le d\u00e9ficit budg\u00e9taire devrait revenir sur sa trajectoire descendante et passer \u00e0 16,9 milliards de dollars (0,5 % du PIB) en 2028-2029."}},{"content":{"en":"PBO projects the federal debt-to-GDP ratio to increase from its 2022-23 level of 41.7 per cent, reaching 42.4 per cent in 2023\u201124 and 42.5 per cent in 2024\u201125. Assuming no new measures and existing temporary measures sunset as scheduled, the federal debt ratio is projected to fall to 39.2 per cent in 2028\u201129 but remain well above its pre-pandemic level of 31.2 per cent of GDP in 2019\u201120.","fr":"Le DPB s\u2019attend \u00e0 ce que le ratio de la dette f\u00e9d\u00e9rale au PIB augmente par rapport \u00e0 son niveau de 41,7 % en 2022-2023 pour s\u2019\u00e9tablir \u00e0 42,4 % en 2023-2024 et 42,5 % en 2024-2025. En supposant qu\u2019aucune nouvelle mesure ne soit prise et que les mesures temporaires existantes prennent fin comme pr\u00e9vu, le ratio de la dette f\u00e9d\u00e9rale devrait atteindre 39,2 % en 2028\u20112029, mais rester sup\u00e9rieur \u00e0 son niveau d\u2019avant la pand\u00e9mie, qui \u00e9tait de 31,2 % du PIB en 2019-2020."}},{"content":{"en":"PBO projects the debt service ratio (that is, public debt charges relative to total revenues) to rise from 7.8 per cent in 2022\u201123 to 10.2 per cent in 2023\u201124. As the effective interest rate on debt edges higher in 2024\u201125, we project the debt service ratio to increase further and average 10.7 per cent through 2028\u201129\u2014well above its pre-pandemic record low of 7.0 per cent in 2018-19.","fr":"Le DPB s\u2019attend \u00e0 ce que le ratio du service de la dette (c\u2019est-\u00e0-dire les frais de la dette publique par rapport aux recettes totales) augmente, passant de 7,8 % en 2022-2023 \u00e0 10,2 % en 2023-2024. \u00c9tant donn\u00e9 que le taux d\u2019int\u00e9r\u00eat effectif sur la dette sera plus \u00e9lev\u00e9 en 2024-2025, nous nous attendons \u00e0 ce que le ratio du service de la dette augmente encore et s\u2019\u00e9tablisse \u00e0 10,7 % en moyenne jusqu\u2019en 2028-2029, bien au-dessus du niveau plancher pr\u00e9pand\u00e9mique de 7,0 % en 2018-2019."}}]},"updated_at":"2024-03-05T13:57:09.000000Z","type":"RP","slug":"RP-2324-027-S--economic-fiscal-outlook-march-2024--perspectives-economiques-financieres-mars-2024","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2324-027-S--economic-fiscal-outlook-march-2024--perspectives-economiques-financieres-mars-2024","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2324-027-S--economic-fiscal-outlook-march-2024--perspectives-economiques-financieres-mars-2024"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2324-027-S--economic-fiscal-outlook-march-2024--perspectives-economiques-financieres-mars-2024","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2324-027-S--economic-fiscal-outlook-march-2024--perspectives-economiques-financieres-mars-2024"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/592b2821b72a722d94c7e2ec550869247372b74075bbba84f38f09c8b398fce9"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/4c4cdb97a9afd883daa9e3d3e5391752c1a3def1a44039e6ae978ac84625ab38"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/06095f19ca30d6fc8a62e52d7c5a64f0b9c5aa6910c3c18996b34405155b6077","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/193cee6e59ff94014ee8cde3ef61c938752076572e540ed663955de3dd4d4253","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/333d8b06ff001133abd4a56b5d354ce264bb556a0084a4f3920ee4eff8d9489c","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/ccdbba14afda98a8df3c8e1228b3605e6aa2c8b67096d0e2919fd593a7535eab","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/2a83fb90de2a7d96a541a581e66b63da3d200e81f92b280d7e66a73ce06ab7ea","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/2634b3c2c427a0819236effc902f3b958ea661c6d9bdf202154e68a836e7f7f5","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3076bacb621066bf6486b3c84dfce44e410ccf761d848121d3983861487a7744","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/57aee2ca666b3496b4b887b4b6b374f872c8c6aabe9241457dbdab9ccca1372e"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/90f20a17fafa029f686260ced14140337e6f2188e8b1f3599b30eaf25ca5906d","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c7bc398e2aac825d14c45c527125d0cbfa48fe76dd9ea7263985db5829b94e8c","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/47329158fe8dc39c56ae28a48ce0a82834432f9f7951cf313c1b33f030b21b8f","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5dbaa3fe6b3a25c0c1f221ed7b11ef344a2c3e9690ef34db402122a50ff7a5f9","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/07544b6965ecbc93e866d9f5a34d45c70a4fe919ce66bbca45aae402b6a4b775","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f445fff1f4395e5a7bc05d3de9a0e4e4646d059d2a37f8d2c3956b3f773efc1c","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/cc356e5be4e13ddaabf1c4d9a171b8407b4324294f84713134e868c1c8ef09d1","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6170b6fec1a23dedf88a5b804769aac1fae2ac0ec854b39e516b78aed786e9f6"}}},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2324027S,\n author={Barkova, Lisa and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Dong, Matt and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Nahornick, Nora and Robert-Lacroix, Ulysse and Scholz, Tim and Stanton, Jason and Vrhovsek, Zachary},\n title={Economic and Fiscal Outlook \\textemdash March 2024},\n institution={The Office of the Parliamentary Budget Officer},\n year=2024,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2324027S,\n author={Barkova, Lisa and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Dong, Matt and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Nahornick, Nora and Robert-Lacroix, Ulysse and Scholz, Tim and Stanton, Jason and Vrhovsek, Zachary},\n title={Perspectives \\\u0027{e}conomiques et financi\\`{e}res \\textemdash Mars 2024},\n institution={Bureau du directeur parlementaire du budget},\n year=2024,\n \n address = \u0022Ottawa, ON\u0022\n}"}}

{"id":"LEG-2324-014-M","is_published":"2023-11-01T12:57:02.000000Z","release_date":"2023-11-01T13:00:00.000000Z","title_en":"Regulating activities related to great apes, elephants, and other designated animals","title_fr":"R\u00e9glementation des activit\u00e9s li\u00e9es aux grands singes, aux \u00e9l\u00e9phants et \u00e0 d\u2019autres animaux d\u00e9sign\u00e9s","internal_id":"LEG-2324-014-M","metadata":{"abstract_en":"The bill would prohibit private ownership of these animals as exotic pets and require federal regulation of zoos and other facilities holding such animals.","abstract_fr":"Le projet de loi interdirait la possession priv\u00e9e de ces animaux comme animaux de compagnie exotiques et exigerait la r\u00e9glementation f\u00e9d\u00e9rale des zoos et des autres installations qui gardent de tels animaux.","highlights":[]},"updated_at":"2023-11-01T12:57:02.000000Z","type":"LEG","slug":"LEG-2324-014-M--regulating-activities-related-great-apes-elephants-other-designated-animals--reglementation-activites-liees-grands-singes-elephants-autres-animaux-designes","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/LEG-2324-014-M--regulating-activities-related-great-apes-elephants-other-designated-animals--reglementation-activites-liees-grands-singes-elephants-autres-animaux-designes","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/LEG-2324-014-M--regulating-activities-related-great-apes-elephants-other-designated-animals--reglementation-activites-liees-grands-singes-elephants-autres-animaux-designes"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/LEG-2324-014-M--regulating-activities-related-great-apes-elephants-other-designated-animals--reglementation-activites-liees-grands-singes-elephants-autres-animaux-designes","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/LEG-2324-014-M--regulating-activities-related-great-apes-elephants-other-designated-animals--reglementation-activites-liees-grands-singes-elephants-autres-animaux-designes"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/49241b4b5cd15e766224c6607b2aa6d2d027bd309e3d16ea0086c7098843c9df"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/34a352bbe05ed8e5684734191f340183d2afec376a42fb8ac9e03a9a136599c0"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4459d94aa117546802ef936f5362ab787d043150845dba4e86614b46cb4f3222","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/2696e951a56d7b8994f52592603f82bd55cbb762c663de2e127fff3c782b215e","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/97331627631d2db167d6a1612403373c90047e29f8306138884180bfb30092bc","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/09207d870e16e7209df8b1f88a69c46de8b35d4b70a9746f8712617be9e6983d","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5b7e237124186cda606fa1428278af8df48fc6a39ce0db655a8cc7ecb6fdd2b6","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/99c8b83227b97a1867759358c3e45277d694328a940b5d39464ae1d625a643cd","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b67e3647e38fe1563a27dad571a0be509d4ce2f2f8fdd9dd00fcaf37ecb094b0","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0941a7c65026fd1be9b05909859411817778fe4464d898e21df559a0a4d37fe2"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/98bcfcd15f8fe5aca21a187122708a9869fc207fc86ab19e8538becc7afaadcc","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0ee72076b16adb4a00be9fb248381778a85588d647c77b4d04ea30b326c498ce","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/204f1d0d64d1d72572ec4885c5355815bbac5ee40ffb8af60bfeb43b443d3f41","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4c7ddaaf45735018e0d467f82c1b5e7e345c3b3b8d52b8b484fe8552d61f04c3","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3f8d131a06e4742a255f41426678b4f8c600e7fb2d2192b9514fc77196ae4c4b","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e1d7e63e96bd748b179a694251a209deffd6ccc6004da9fdaf7656acb39d791e","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6b3092e93f580b3043068891f92a7f1908a95f1dbb11909dbe8110b64b756d7c","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4c8347c6129abbcd9b78b2a213330c10534e8324b8900ee100fa19dd168e6e67"}}},"bills":[{"id":318,"created_at":"2022-03-23T06:00:13-04:00","updated_at":"2023-11-01T09:34:59-04:00","legisid":"44_1_S-241","parliament":44,"session":1,"prefix":"S","number":241,"title_en":"An Act to amend the Criminal Code and the Wild Animal and Plant Protection and Regulation of International and Interprovincial Trade Act (great apes, elephants and certain other animals)","title_fr":"Loi modifiant le Code criminel et la Loi sur la protection d\u2019esp\u00e8ces animales ou v\u00e9g\u00e9tales sauvages et la r\u00e9glementation de leur commerce international et interprovincial (grands singes, \u00e9l\u00e9phants et certains autres animaux)","bill_num":"S-241","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/bills--projets-de-loi\/44-1\/S-241","legisinfo":"https:\/\/www.parl.ca\/legisinfo\/en\/bill\/44-1\/s-241"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/bills--projets-de-loi\/44-1\/S-241","legisinfo":"https:\/\/www.parl.ca\/LegisInfo\/fr\/projet-de-loi\/44-1\/s-241"}},"pivot":{"publication_id":769,"bill_id":318}}],"bibtex":{"en":"@techreport{PBO-LEG2324014M,\n author={Segel-Brown, Ben and Cl\\\u0027{e}ophat, R\\\u0027{e}gine},\n title={Regulating activities related to great apes, elephants, and other designated animals},\n institution={The Office of the Parliamentary Budget Officer},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-LEG2324014M,\n author={Segel-Brown, Ben and Cl\\\u0027{e}ophat, R\\\u0027{e}gine},\n title={R\\\u0027{e}glementation des activit\\\u0027{e}s li\\\u0027{e}es aux grands singes, aux \\\u0027{e}l\\\u0027{e}phants et \\`{a} d\u2019autres animaux d\\\u0027{e}sign\\\u0027{e}s},\n institution={Bureau du directeur parlementaire du budget},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}"}}

{"id":"RP-2324-017-S","is_published":"2023-10-13T12:57:11.000000Z","release_date":"2023-10-13T13:00:00.000000Z","title_en":"Economic and Fiscal Outlook \u2013 October 2023","title_fr":"Perspectives \u00e9conomiques et financi\u00e8res \u2013 octobre 2023","internal_id":"RP-2324-017-S","metadata":{"abstract_en":"This report provides a baseline projection to help parliamentarians gauge potential economic and fiscal outcomes under current policy settings.","abstract_fr":"Le pr\u00e9sent rapport fournit une projection de r\u00e9f\u00e9rence pour aider les parlementaires \u00e0 \u00e9valuer les r\u00e9sultats \u00e9conomiques et financiers possibles dans le cadre des politiques actuelles.","highlights":[{"content":{"en":"Following the contraction in real GDP in the second quarter, PBO projects the Canadian economy to stagnate in the second half of 2023. As the Bank of Canada maintains its restrictive monetary policy to restore price stability, we project that consumer spending will remain weak in the second half of this year and the first half of 2024.","fr":"Apr\u00e8s la contraction du produit int\u00e9rieur brut (PIB) r\u00e9el au deuxi\u00e8me trimestre, le DPB pr\u00e9voit que l\u2019\u00e9conomie canadienne stagnera au cours du deuxi\u00e8me semestre de l\u2019ann\u00e9e 2023. Alors que la Banque du Canada maintient sa politique mon\u00e9taire restrictive afin de r\u00e9tablir la stabilit\u00e9 des prix, nous pr\u00e9voyons que les d\u00e9penses de consommation demeureront faibles au cours du deuxi\u00e8me semestre de cette ann\u00e9e et de la premi\u00e8re moiti\u00e9 de l\u2019ann\u00e9e 2024."}},{"content":{"en":"PBO expects the Bank of Canada to hold the policy interest rate at 5 per cent through the first quarter of 2024. With CPI inflation on track to return to its 2 per cent target, we then expect the Bank to start lowering its policy rate in April 2024.","fr":"Le DPB s\u2019attend \u00e0 ce que la Banque du Canada maintienne le taux directeur \u00e0 5 % jusqu\u2019au premier trimestre de 2024. L\u2019inflation de l\u2019IPC \u00e9tant en bonne voie de revenir \u00e0 sa cible de 2 %, nous pr\u00e9voyons que la Banque commencera \u00e0 abaisser son taux directeur en avril 2024."}},{"content":{"en":"For the current fiscal year, 2023-24, PBO projects the budgetary deficit to rise to $46.5 billion (1.6 per cent of GDP). Assuming no new measures are introduced, and existing temporary measures sunset as scheduled, the budgetary deficit is projected to resume its downward trajectory, falling to $8.2 billion (0.2 per cent of GDP) in 2028-29.","fr":"Pour l\u2019exercice financier en cours, soit 2023-2024, le DPB pr\u00e9voit que le d\u00e9ficit budg\u00e9taire atteindra 46,5 milliards de dollars (1,6 % du PIB). En supposant qu\u2019aucune nouvelle mesure ne soit prise et que les mesures temporaires existantes prennent fin comme pr\u00e9vu, le d\u00e9ficit budg\u00e9taire devrait revenir sur sa trajectoire descendante et passer \u00e0 8,2 milliards de dollars (0,2 % du PIB) en 2028-2029."}},{"content":{"en":"PBO projects the federal debt-to-GDP ratio to rise to 42.6 per cent in 2023 24. Assuming no new measures and existing temporary measures sunset as scheduled, the federal debt ratio is projected to fall to 37.8 per cent in 2028-29 but remain above its pre-pandemic level of 31.2 per cent of GDP in 2019-20.","fr":"Le DPB pr\u00e9voit une augmentation du ratio de la dette f\u00e9d\u00e9rale au PIB de 42,6 % en 2023-2024. En supposant qu\u2019aucune nouvelle mesure ne soit prise et que les mesures temporaires existantes prennent fin comme pr\u00e9vu, le ratio de la dette f\u00e9d\u00e9rale devrait atteindre 37,8 % en 2028 2029, mais rester sup\u00e9rieur \u00e0 son niveau d\u2019avant la pand\u00e9mie, qui \u00e9tait de 31,2 % du PIB en 2019 2020."}},{"content":{"en":"PBO projects the debt service ratio (that is, public debt charges relative to tax revenues) under status quo policy will peak at 12.0 per cent in 2023-24 and then decline gradually to 11.0 per cent in 2028-29\u2014well above its pre-pandemic low of 8.3 per cent in 2018-19.","fr":"Le DPB projette que le ratio du service de la dette (c\u2019est-\u00e0-dire les charges de la dette publique par rapport aux recettes fiscales), selon une politique de statu quo, culminera \u00e0 12,0 % en 2023 2024, puis diminuera progressivement pour s\u2019\u00e9tablir \u00e0 11,0 % en 2028 2029, soit bien au-dessus de son niveau le plus bas enregistr\u00e9 avant la pand\u00e9mie, \u00e0 savoir 8,3 % en 2018 2019."}}]},"updated_at":"2023-10-30T11:33:03.000000Z","type":"RP","slug":"RP-2324-017-S--economic-fiscal-outlook-october-2023--perspectives-economiques-financieres-octobre-2023","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2324-017-S--economic-fiscal-outlook-october-2023--perspectives-economiques-financieres-octobre-2023","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2324-017-S--economic-fiscal-outlook-october-2023--perspectives-economiques-financieres-octobre-2023"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2324-017-S--economic-fiscal-outlook-october-2023--perspectives-economiques-financieres-octobre-2023","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2324-017-S--economic-fiscal-outlook-october-2023--perspectives-economiques-financieres-octobre-2023"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/48014b51a8f869dfb0ecc9163f1989c560c107cc3aa9d29a8dd1a40c0e73a664"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/5a2187bb6ed654597e45117677fde8a53b7c0a8077ae4a9b273c502021b0395c"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3f0ac070338e99c9e024fba6f51d4395126b1599787a710bc8fdbec59ca37a37","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/8c91fc6b516a055baf6267c0abc49211144c48fc985888ece068f613b2cf319b","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/14b870179b375409a94eeffa2e0d61259656c7809717b46bdb6e7dad1a9f71a6","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/00ded9049717d36f0c90aff050bdddb50322d81c4bce1276b1a19629c18e74a1","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/44bead66a5730a843703164f455cee7a8c0996f290a82de984f88dbe04724229","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4b7d2bc161fbd66fc5a11fa51ed60e04d126d82106341b5825c86ca531bbb63e","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/638b944b8a5c42cd8fb34525cffa2f681b543c9d951bfcfa6dcccbad26fef0f7","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5bc367026e766c2206b92a261d23a5ae22f768e441ced0d482fc5d309df15ff1"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/56494b21089fb3dda05eddd3db11b01cf2f3b8501786202a860318fbce74fd30","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f500451f2c3b4caa34db934cbdc42353bdcba90ded1906ef5bd7a52df24950cd","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c90fe809718cb6febee32cb61f76eb4bcb4a25468ba7471d8b2deb403ce49e9a","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/989467e8f14bcb1bedc4dc28e0bfe87d655c6d0a931a131143a05955cc326be5","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/75a85c74ee28b7c3f6145b7083ae8c3c48a677ee28a6881ede7e45671bd90aea","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/39db98261619edf2a1ac49332ff049d6d76ca5c35e2050f9a592bb52b452def3","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d5b736fc0483291faa10877244e87eb2652a011436040ed8f56f8a2c3abe1eb2","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/cf3e4baa03ffec0d871a79beeaf32e59e01ad11e59bf6f554a5b4652d706d271"}}},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2324017S,\n author={Ammar, Nasreddine and Barkova, Lisa and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Dong, Matt and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Nahornick, Nora and Stanton, Jason and Vanderwees, Kaitlyn},\n title={Economic and Fiscal Outlook - October 2023},\n institution={The Office of the Parliamentary Budget Officer},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2324017S,\n author={Ammar, Nasreddine and Barkova, Lisa and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Dong, Matt and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Nahornick, Nora and Stanton, Jason and Vanderwees, Kaitlyn},\n title={Perspectives \\\u0027{e}conomiques et financi\\`{e}res - octobre 2023},\n institution={Bureau du directeur parlementaire du budget},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}"}}

{"id":"RP-2324-011-S","is_published":"2023-07-27T12:57:04.000000Z","release_date":"2023-07-27T13:00:00.000000Z","title_en":"Fiscal Sustainability Report 2023","title_fr":"Rapport sur la viabilit\u00e9 financi\u00e8re de 2023","internal_id":"RP-2324-011-S","metadata":{"abstract_en":"This report provides PBO\u2019s assessment of the sustainability of government finances over the long term for the federal government, subnational governments and public pension plans.","abstract_fr":"Dans ce rapport, le DPB pr\u00e9sente son \u00e9valuation de la viabilit\u00e9 financi\u00e8re \u00e0 long terme du gouvernement f\u00e9d\u00e9ral, des administrations infranationales et des r\u00e9gimes de retraite g\u00e9n\u00e9raux.","highlights":[{"content":{"en":"From the perspective of the total general government sector, that is federal and subnational governments and public pension plans combined, current fiscal policy in Canada is sustainable over the long term. Relative to the size of the Canadian economy, total general government net debt is projected to decline steadily over the long term due to fiscal room at the federal level and to rising net asset positions in the public pension plans.","fr":"En ce qui concerne le secteur des administrations publiques consid\u00e9r\u00e9es comme un tout, c\u2019est-\u00e0-dire le gouvernement f\u00e9d\u00e9ral, les administrations infranationales et les r\u00e9gimes de retraite g\u00e9n\u00e9raux pris ensemble, la politique budg\u00e9taire actuelle au Canada est viable \u00e0 long terme. Par rapport \u00e0 la taille de l\u2019\u00e9conomie canadienne, la dette publique g\u00e9n\u00e9rale nette devrait diminuer progressivement \u00e0 long terme en raison de la marge de man\u0153uvre financi\u00e8re au niveau f\u00e9d\u00e9ral et de l\u2019am\u00e9lioration de la situation de l\u2019actif net des r\u00e9gimes de retraite publics."}},{"content":{"en":"Current fiscal policy at the federal level is sustainable over the long term. We estimate that the federal government could permanently increase spending or reduce taxes by 1.7 per cent of GDP ($49.5 billion in current dollars, growing in line with GDP thereafter) while maintaining fiscal sustainability.","fr":"La politique budg\u00e9taire f\u00e9d\u00e9rale actuelle est viable \u00e0 long terme. Nous estimons que le gouvernement f\u00e9d\u00e9ral pourrait augmenter ses d\u00e9penses ou r\u00e9duire les imp\u00f4ts de 1,7 % du PIB (49,5 milliards de dollars en dollars courants, augmentant par la suite au rythme du PIB) tout en demeurant viable sur le plan budg\u00e9taire."}},{"content":{"en":"For the subnational government sector, which includes provincial-territorial, local and Indigenous governments, current fiscal policy is sustainable over the long term. Under current policy, projected subnational government revenues and program spending are sufficient to keep the subnational government net debt-to-GDP ratio below its 2022 level over the 75-year projection horizon.","fr":"Pour ce qui est des administrations infranationales, qui comprennent les administrations provinciales, territoriales, locales et autochtones, les politiques budg\u00e9taires actuelles sont viables \u00e0 long terme. Selon la politique actuelle, les revenus et les d\u00e9penses de programmes pr\u00e9vus des administrations infranationales sont suffisantes pour maintenir le ratio de la dette nette par rapport au PIB des administrations infranationales en dessous de son niveau de 2022 pour l\u2019horizon de 75 ans."}},{"content":{"en":"The current structure of the Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) is sustainable over the long term. Under the current structure of the plans, projected contributions and benefits are sufficient to ensure that the net asset-to-GDP position is above its 2022 value after 75 years.","fr":"La structure actuelle tant du R\u00e9gime de pensions du Canada (RPC) que du R\u00e9gime de rentes du Qu\u00e9bec (RRQ) est viable \u00e0 long terme. Avec la structure actuelle des r\u00e9gimes, les cotisations et les prestations pr\u00e9vues sont suffisantes pour garantir que la position nette de l\u2019actif par rapport au PIB est sup\u00e9rieure \u00e0 sa valeur de 2022 apr\u00e8s 75 ans."}}]},"updated_at":"2023-09-19T18:08:03.000000Z","type":"RP","slug":"RP-2324-011-S--fiscal-sustainability-report-2023--rapport-viabilite-financiere-2023","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2324-011-S--fiscal-sustainability-report-2023--rapport-viabilite-financiere-2023","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2324-011-S--fiscal-sustainability-report-2023--rapport-viabilite-financiere-2023"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2324-011-S--fiscal-sustainability-report-2023--rapport-viabilite-financiere-2023","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2324-011-S--fiscal-sustainability-report-2023--rapport-viabilite-financiere-2023"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/14112865d6961441f766fa6e8f511a29368a6a15a3e8b8445af18c7cbda6d632"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/141f168b00bd920bc9c6e23fa8192e335ec315ad6ab81a1311d298867ae44a28"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f5a6d162ca59b837a46677d33f93a808d448d23ce2f3d0f728a1b7615ca4c325","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b64905908e3cdb87a564f5d894fbe47a75d3c8b016f20e0591566ef8df799621","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d13ebfbc0b98705694fd02a04eff3b3ee7a5d8e9f49d050ff4cea132bdbed972","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/06f22380d687d415721a031d2205907078627a6c93819aabb91ddb4ea46c7345","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3e543c446205fe491ea1a7a5f1597394f9c988b6ade37e61c5cf965b3aa39b6a","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c7c0e5550bb823fd105884647233c025747cc6e69c71023211c12137b0759233","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/2702f13fc68a6b62db3f6905fe58be6f048111855c0663fdfade4ca923f7aa79","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d9a2c6dfb4e772a996671d768061cd9ed59feb8cc09496488bc98207fe2a177b"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/17394f7f5b7d2cd2405e3a05d1082eb72400241c249bb030a32cabf60b3ac77e","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/1ecda173ac7eaaadda445b78990dab20fc050b7c65630f3d62d461a57a7fda53","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/908774ade4eeeff17628e025e84732f70148140d3beb90b5f55cc891c6b4cf0f","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/7b71afd96030c5a71fa6885b69081feae0cff58126658e6b4b95accc98f0b0b3","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d40754705857de30a699d201f37356fcabb00c65512f7987923cd34075fb92c1","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0b907eb1cceafb94d48d829eb11798bbecc24abf316b554c630ebcc6a049f8fe","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/1f436a00db8d0634a5757f25182161be439d7df54a1d3ac0c2fcad73ba51c99d","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/eb38410c8893c2f09e0ade99c8fa497ca4fa62241ce6bd67f9858b59c5c75dfd"}}},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2324011S,\n author={Barkova, Lisa and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Kho, Albert and Laurin, Marianne and Nicol, Caroline},\n title={Fiscal Sustainability Report 2023},\n institution={The Office of the Parliamentary Budget Officer},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2324011S,\n author={Barkova, Lisa and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Kho, Albert and Laurin, Marianne and Nicol, Caroline},\n title={Rapport sur la viabilit\\\u0027{e} financi\\`{e}re de 2023},\n institution={Bureau du directeur parlementaire du budget},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}"}}

{"id":"RP-2324-009-S","is_published":"2023-06-22T13:00:00.000000Z","release_date":"2023-06-22T13:00:00.000000Z","title_en":"Household purchasing power at different income levels since 2019","title_fr":"Le pouvoir d\u2019achat des m\u00e9nages \u00e0 diff\u00e9rents niveaux de revenus depuis 2019","internal_id":"RP-2324-009-S","metadata":{"abstract_en":"This report examines household purchasing power at different income levels since 2019. The Parliamentary Budget Officer (PBO) assessed the share of income needed to purchase a 2019 basket of goods and services and tracked changes over time based on two income measures\u2014market income and disposable income\u2014for three periods. The first of these looks at quarters 19Q4 and 21Q1 to assess household purchasing power almost a year after the start of the pandemic. The period from 21Q1 to 22Q2 was then examined to consider the sharp rise in prices. Lastly, the period from 19Q4 to 22Q4 PBO was delved into to estimate households\u2019 situation as the pandemic drew to its end.","abstract_fr":"Ce rapport a comme objectif d\u2019\u00e9tudier le pouvoir d\u0027achat des m\u00e9nages \u00e0 diff\u00e9rents niveaux de revenu depuis 2019. \u00c0 cette fin, le DPB a \u00e9valu\u00e9 la part de revenu n\u00e9cessaire \u00e0 l\u0027achat du panier de biens et services de 2019 et il a observ\u00e9 son \u00e9volution en consid\u00e9rant deux mesures du revenu, soit le revenu de march\u00e9 et le revenu disponible durant trois p\u00e9riodes. La premi\u00e8re de celles-ci concerne les trimestres 2019T4 et 2021T1, o\u00f9 le pouvoir d\u2019achat des m\u00e9nages a \u00e9t\u00e9 \u00e9valu\u00e9 pr\u00e8s d\u2019un an depuis le d\u00e9but de la pand\u00e9mie. Puis, la p\u00e9riode entre 2021T1 et 2022T2 a \u00e9t\u00e9 envisag\u00e9e pour consid\u00e9rer la forte progression des prix. Enfin, la p\u00e9riode entre 2019T4 et 2022T4 a \u00e9t\u00e9 regard\u00e9e pour estimer la situation des m\u00e9nages alors que la pand\u00e9mie tirait \u00e0 sa fin.","highlights":[{"content":{"en":"Almost three years after the start of the pandemic, the PBO notes that purchasing power had improved for all households \u2013 it increased by 5%.","fr":"Pr\u00e8s de trois ans apr\u00e8s le d\u00e9but de la pand\u00e9mie, le DPB constate que l\u0027ensemble des m\u00e9nages jouissent d\u2019un meilleur pouvoir d\u2019achat lorsqu\u2019il consid\u00e8re le revenu disponible. Cette am\u00e9lioration se chiffre \u00e0 5%."}},{"content":{"en":"However, the PBO also sees evidence of the regressive impact of inflation on household purchasing power. He observes that household income alone for lower income earners is not enough to address the rising cost of living; they rely significantly on government transfers to preserve their purchasing power. Higher-income households are better able to handle the rising cost of living using their own sources of income.","fr":"Cependant, il remarque \u00e9galement l\u2019impact r\u00e9gressif de l\u2019inflation sur le pouvoir d\u2019achat des m\u00e9nages. Au terme de cette \u00e9tude, il observe que les m\u00e9nages gagnant les revenus les plus faibles ne peuvent pas faire face \u00e0 la hausse du co\u00fbt de la vie par l\u2019entremise de leurs propres sources de revenu; les transferts gouvernementaux contribuent largement \u00e0 la pr\u00e9servation de leur pouvoir d\u2019achat. Ceci n\u2019est pas le cas des m\u00e9nages les mieux nantis : ils sont plus en mesure d\u2019encaisser les contrecoups du co\u00fbt de la vie avec leurs propres sources de revenu."}}]},"updated_at":"2023-06-23T17:31:07.000000Z","type":"RP","slug":"RP-2324-009-S--household-purchasing-power-at-different-income-levels-since-2019--pouvoir-achat-menages-differents-niveaux-revenus-depuis-2019","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2324-009-S--household-purchasing-power-at-different-income-levels-since-2019--pouvoir-achat-menages-differents-niveaux-revenus-depuis-2019","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2324-009-S--household-purchasing-power-at-different-income-levels-since-2019--pouvoir-achat-menages-differents-niveaux-revenus-depuis-2019"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2324-009-S--household-purchasing-power-at-different-income-levels-since-2019--pouvoir-achat-menages-differents-niveaux-revenus-depuis-2019","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2324-009-S--household-purchasing-power-at-different-income-levels-since-2019--pouvoir-achat-menages-differents-niveaux-revenus-depuis-2019"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/17c6994f4f6cc1ac76c686d405695d33dc347834bc355625d2123babbaf9c562"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/436080f532aafd268027513325ba1442057680e0b0b099f81c77f839283f2b3e"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b7980976d101a16220aa564afaa48d8859fad62709b181bfb2e000ee7ec71b64","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b11b2dc8edb77cfaf65e32886affbe8e38872f592f7333474300805424a4acfa","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/179620ace77ac61f5a05325d3728cdb70d443e514afba03cfb58486a4208ca83","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/495cd855c556c7cc1fc18a2fd3c465857af09633e36c9f897f04c7f951024b7a","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/49d693c60cd037b5e6c8205192ab293390b57595a6b2b05b6f96472fd484e8fc","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b49b4a12eeb2163549a1ce44d844df304674341f0e60b9a681e61e5fbc3c1049","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5bab657c7cdb87cd27013e9ba5657d18dca3c57d3fc0ede9a904c6c883f9d02c","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/419c527b3546b1980c39c0c0f19566d3a12d2c6f6d7fbe13a66b59249b27ab7f"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/61776a87a8f1c5f9d9a01e7cf1be8032b12f52cc1692ea185b41839c1f7d6a44","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/714ab104c01b98b9d4e05d08db15255008fb8dfbfd5fcc9926c45ca8a95f9518","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f8f4d7026aecf8b4552442c2a7addadcdae987cd8f7aa624130ea755afdd4877","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6cea035766c3c3a86e37b7d7c9d8cb3a7328a860ecbbf2c6aa9e9fb7d3ad3774","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/414b77c8b0c8ca560b9dfb52e4d8d44ff30bf2ffe13cd5f39c56631d2338183d","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/22fc08ced63f4e3615b8b0e96281f674ff9d46576f0cdec1c164503f94b8fe7b","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/521ce82cee9f30183d06ca942fea9b2b75da1bce0b7589d0c65cf03ab6993f4e","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/59db486d84981490a4d9bb9f0cf16f50a760a552969b3907fc747f5d9d029b02"}}},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2324009S,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine},\n title={Household purchasing power at different income levels since 2019},\n institution={The Office of the Parliamentary Budget Officer},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2324009S,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine},\n title={Le pouvoir d\u2019achat des m\\\u0027{e}nages \\`{a} diff\\\u0027{e}rents niveaux de revenus depuis 2019},\n institution={Bureau du directeur parlementaire du budget},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}"}}

{"id":"RP-2223-025-S","is_published":"2023-03-02T13:57:04.000000Z","release_date":"2023-03-02T14:00:00.000000Z","title_en":"Economic and Fiscal Outlook \u2014 March 2023","title_fr":"Perspectives \u00e9conomiques et financi\u00e8res \u2014 Mars 2023","internal_id":"RP-2223-025-S","metadata":{"abstract_en":"This report provides a baseline projection to help parliamentarians gauge potential economic and fiscal outcomes under current policy settings.","abstract_fr":"Ce rapport pr\u00e9sente une projection de r\u00e9f\u00e9rence pour aider les parlementaires \u00e0 \u00e9valuer les r\u00e9sultats \u00e9conomiques et financiers possibles dans le cadre des politiques actuelles.","highlights":[{"content":{"en":"Following a stronger-than-expected performance in the second half of 2022, PBO projects the Canadian economy to stagnate through 2023. As the tightening of monetary policy takes hold, we expect a further decline in residential investment and weakness in consumer spending in the first half of this year.","fr":"Apr\u00e8s que l\u2019\u00e9conomie canadienne ait affich\u00e9 une performance plus \u00e9lev\u00e9e que pr\u00e9vu lors du deuxi\u00e8me semestre de 2022, le directeur parlementaire du budget (DPB) s\u2019attend \u00e0 ce qu\u2019elle stagne jusqu\u2019en 2023. \u00c0 mesure que le resserrement de la politique mon\u00e9taire se concr\u00e9tise, nous pr\u00e9voyons de nouvelle baisse de l\u2019investissement r\u00e9sidentiel et une faiblesse des d\u00e9penses de consommation au cours de la premi\u00e8re moiti\u00e9 de l\u2019ann\u00e9e."}},{"content":{"en":"PBO expects the Bank of Canada to maintain its \u201cpause\u201d, holding the policy interest rate at 4.5 per cent, through December of this year. With CPI inflation solidly on track to return to its 2 per cent target, we then expect the Bank to start lowering its policy rate in January 2024, returning the rate to its estimated neutral level of 2.5 per cent in December 2024.","fr":"Le DPB s\u2019attend \u00e0 ce que la Banque du Canada observe sa \u00ab\u2009pause\u2009\u00bb, en maintenant le taux directeur \u00e0 4,5 % jusqu\u2019\u00e0 la fin du mois de d\u00e9cembre de cette ann\u00e9e. Puisque l\u2019inflation de l\u2019indice des prix \u00e0 la consommation (IPC) est en voie de revenir \u00e0 sa cible de 2 %, nous pr\u00e9voyons que la Banque commencera \u00e0 r\u00e9duire son taux directeur en janvier 2024, puis le ram\u00e8nera \u00e0 son niveau neutre estim\u00e9 de 2,5 % en d\u00e9cembre 2024."}},{"content":{"en":"For the current fiscal year, 2022-23, PBO projects the budgetary deficit to be $36.5 billion (1.3 per cent of GDP) under status quo policy. Assuming no new measures and existing temporary measures sunset as scheduled, the deficit is projected to increase to $43.1 billion (1.5 per cent of GDP) in 2023-24 before resuming its downward trajectory, falling to $8.7 billion (0.3 per cent of GDP) in 2027-28.","fr":"Pour l\u2019exercice en cours de 2022-2023, le DPB pr\u00e9voit un d\u00e9ficit budg\u00e9taire de 36,5 milliards de dollars (1,3 % du PIB) selon une politique de statu quo. En supposant qu\u2019il n\u2019y ait pas de nouvelles mesures et que les mesures temporaires existantes prennent fin comme pr\u00e9vu, le d\u00e9ficit devrait augmenter \u00e0 43,1 milliards de dollars (1,5 % du PIB) en 2023-2024 avant de reprendre sa trajectoire descendante, chutant \u00e0 8,7 milliards de dollars (0,3 % du PIB) en 2027-2028."}},{"content":{"en":"Under status quo policy, PBO projects the federal debt-to-GDP ratio to decline to 41.8 per cent in 2022-23 and then to temporarily rise to 42.2 per cent in 2023-24. Assuming no new measures and existing temporary measures sunset as scheduled, the federal debt ratio is projected to fall to 38.1 per cent in 2027-28 but remain above its pre-pandemic level of 31.2 per cent of GDP in 2019-20.","fr":"Selon une politique de statu quo, le DPB pr\u00e9voit que le ratio de la dette f\u00e9d\u00e9rale au PIB diminuera \u00e0 41,8 % en 2022-2023, puis qu\u2019il remontera temporairement \u00e0 42,2 % en 2023-2024. En supposant qu\u2019aucune nouvelle mesure ne soit prise et que les mesures temporaires existantes prennent fin comme pr\u00e9vu, le ratio de la dette f\u00e9d\u00e9rale devrait diminuer \u00e0 38,1 % en 2027-2028. Cependant, il devrait rester sup\u00e9rieur \u00e0 son niveau pr\u00e9-pand\u00e9mique, qui \u00e9tait de 31,2 % du PIB en 2019-2020."}},{"content":{"en":"PBO projects the debt service ratio (that is, public debt charges relative to tax revenues) under status quo policy will peak at 11.5 per cent in 2023-24 and then decline gradually to 10.3 per cent in 2027-28\u2014two percentage points above its pre-pandemic low of 8.3 per cent in 2018 19.","fr":"Le DPB projette que le ratio du service de la dette (c\u2019est-\u00e0-dire les charges de la dette publique par rapport aux recettes fiscales) culminera \u00e0 11,5 % en 2023-2024 selon une politique de statu quo. Ensuite, il diminuera progressivement pour s\u2019\u00e9tablir \u00e0 10,3 % en 2027-2028, soit deux points de pourcentage de plus que le niveau le plus bas enregistr\u00e9 avant la pand\u00e9mie, \u00e0 savoir 8,3 % en 2018 2019."}}]},"updated_at":"2023-03-02T13:57:04.000000Z","type":"RP","slug":"RP-2223-025-S--economic-fiscal-outlook-march-2023--perspectives-economiques-financieres-mars-2023","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2223-025-S--economic-fiscal-outlook-march-2023--perspectives-economiques-financieres-mars-2023","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2223-025-S--economic-fiscal-outlook-march-2023--perspectives-economiques-financieres-mars-2023"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2223-025-S--economic-fiscal-outlook-march-2023--perspectives-economiques-financieres-mars-2023","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2223-025-S--economic-fiscal-outlook-march-2023--perspectives-economiques-financieres-mars-2023"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/b91ed5d0fe5c8c8cbd7f4267be3aea5259b91fe8f6f48431bc565b2e280771cf"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/d712dda84b04c6449721fb3f4cb6b75abbbeee3d478b3ec9a3da6d1493a2ea40"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/89a6bae7810083bf1412af79096a587a43828ccda79d196c5b1861ca8327a1f7","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/8bfd3dfc68c618671e3d50e1a9643091de164fa07d75e7053045f36dba5c1d07","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a2ea4aa1f1288a4ae5b1e4eb87efdb2a2580ecfdded631eeee1029810e0b55e5","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f0dfa56cfbb35df9706fae0f992ff8bbf4db9c896b118cb7ac8bd58e46b8d911","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e952dbe60316dd3f1dba81e0bcf583f50e55cd2d03c9e23bf1a35e8961c29297","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/fa1727a263a3f7cf130e37ae86303c6c1b6d64517ce4c686dbff9c225c81226b","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4c747d4fc97d53b61e8645d4548e58344c96b177ca4e8296e8e41c27923470dd","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d7f5034323f7d43dfc6612441f1f47d065ef6d4cc474ee6852470619163b6444"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/06b0bd214b776391e2f7933ab4ea62150223671502b22216b4ffeed322039308","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/ae2d39c7bd531e0cd1cb56f77b68b0b71f4b40e2bac8da0c38c70a4421db3525","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e4c9739dc952f334f1ea353fc6909ee91550e415b0cb8352180bb75715cc19e2","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/47e2c3a6b39e5a38ff80ff5f9cd929bce1d2815d5c281c57c6b07afb1e025d96","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/09b9a1feb4ff88bc26fa95ed07dcf1a37a0d2f1454fe55b6710e81d7702e16b4","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/877b35d507633ecc898443bb72f9df983cb9e02fde7faa20088a56f7c98b61a8","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e0573bfbb576baa6bf96d81618ddee7aa4be2b68cff4b65b7b1ce2900a0bbf88","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/80485e6ad949ae3a7ceaef99875bb88d9746759e6ed5680e2b50d37e1e090068"}}},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2223025S,\n author={Nahornick, Nora and Nicol, Caroline and Stanton, Jason and Ammar, Nasreddine and Barkova, Lisa and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Dong, Matt and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Vanderwees, Kaitlyn},\n title={Economic and Fiscal Outlook \\textemdash March 2023},\n institution={The Office of the Parliamentary Budget Officer},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2223025S,\n author={Nahornick, Nora and Nicol, Caroline and Stanton, Jason and Ammar, Nasreddine and Barkova, Lisa and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Dong, Matt and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Vanderwees, Kaitlyn},\n title={Perspectives \\\u0027{e}conomiques et financi\\`{e}res \\textemdash Mars 2023},\n institution={Bureau du directeur parlementaire du budget},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}"}}

{"id":"LEG-2223-023-S","is_published":"2023-01-11T13:57:03.000000Z","release_date":"2023-01-11T14:00:00.000000Z","title_en":"Cost Estimate for the Multigenerational Home Renovation Tax Credit","title_fr":"\u00c9valuation du co\u00fbt du cr\u00e9dit d\u2019imp\u00f4t pour la r\u00e9novation d\u2019habitations multig\u00e9n\u00e9rationnelles","internal_id":"LEG-2223-023-S","metadata":{"abstract_en":"The proposed measure introduces a refundable tax credit for eligible expenses incurred during a qualifying renovation that leads to the creation of a secondary unit within an existing home. Undertaking a qualifying renovation must result in an eligible person (a senior or a person with a disability) residing with a qualifying relation. The amount of the tax credit would be 15 per cent of the lesser of eligible expenses and $50,000.\n\nThe PBO estimates that the proposed measure will generate a 5-year cost of $44 million.","abstract_fr":"La mesure propos\u00e9e instaure un cr\u00e9dit d\u2019imp\u00f4t remboursable pour les d\u00e9penses engag\u00e9es dans le cadre de r\u00e9novations admissibles d\u2019une habitation existante. Ces travaux doivent permettre de cr\u00e9er un logement secondaire destin\u00e9 \u00e0 une personne admissible (personne \u00e2g\u00e9e de plus de 65 ans ou personne handicap\u00e9e) qui devra r\u00e9sider avec un proche admissible. Le montant du cr\u00e9dit d\u2019imp\u00f4t repr\u00e9sentera 15 % de la moindre des deux sommes suivantes : le montant des d\u00e9penses admissibles ou 50\u2009000 $.\n\nLe DPB estime que la mesure propos\u00e9e co\u00fbtera 44 millions de dollars sur cinq ans.","highlights":[]},"updated_at":"2023-02-07T21:19:13.000000Z","type":"LEG","slug":"LEG-2223-023-S--cost-estimate-multigenerational-home-renovation-tax-credit--evaluation-cout-credit-impot-renovation-habitations-multigenerationnelles","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/LEG-2223-023-S--cost-estimate-multigenerational-home-renovation-tax-credit--evaluation-cout-credit-impot-renovation-habitations-multigenerationnelles","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/LEG-2223-023-S--cost-estimate-multigenerational-home-renovation-tax-credit--evaluation-cout-credit-impot-renovation-habitations-multigenerationnelles"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/LEG-2223-023-S--cost-estimate-multigenerational-home-renovation-tax-credit--evaluation-cout-credit-impot-renovation-habitations-multigenerationnelles","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/LEG-2223-023-S--cost-estimate-multigenerational-home-renovation-tax-credit--evaluation-cout-credit-impot-renovation-habitations-multigenerationnelles"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/b744553d9dbbb0124ac4c53cc7eff839b982655c50ad5939aada33e95f296e3d"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/1dfd10891db4a166381885c7cea28923ca2b3308548e1f60e4555d63a4e9bade"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a768fc4c6e392cf83ee776d832ba8b14ec4c00e4196a803418751f23f28943fc","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/55c8cf33b584315cadc88d07535a9cee295e0c45a41ffc2f3cd4b437ff4c752e","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/33a802e80cdd2eecd04c38ad728787860712f353e2ff312173e3c03a95fbab39","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/66a69db3b3d52d1747f1f7381513af5d6bca180f84dcd6a33f3943f23e8b3d65","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b8977e9b8476549e0442b61052acad18957d5f0ca9d41ea20a522faac3ebb14e","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a2ba88eacf6b49b62fd4bc4a079f4a750cf4a0df0222abfa0c2e89d94979ac16","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/ef5cc1e5a8b81960b7ecb74cdbc96d0ceb60acffba333c699ae0d184ed5b55f4","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e70d3357866eea8abe596f23d87fab9084d028d3c83466bc1a8608b74b589b6f"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/1fa2f9d200f061a1e905850ed3d6d6a958aebb5dd07b62aef3a10acf1d1d5f37","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/654226efa6c660064c9ff610bf5be3f8fd52a9c0805c732be5085edd4a57e481","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/963477ea82a23ba10eeb840938bf52c28bdcad8dc3abf9efb87b8fed5ca4cfb2","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/9f382b60a6be5fa487220e5de4605ee23dfc364c617f52d35b2c39aa203f21c7","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c0becf67598730c1bb618d9ef998c2ecca898b8c4543b7028770b66d3cf617f6","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0e3e4829741460f58f076cfaf539a73119a0e765f30a854840ffa6ed161f027f","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e4d523d10f770c2eabbca6f5cfcbda1c17b9115bc47d7f0b6557bbe1672feb85","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b5c5b28bc3adb74c9b6bf6f6f820f06fcea60a99bc16219e3fd0e79fdbd674be"}}},"bills":[{"id":403,"created_at":"2022-11-04T14:00:12-04:00","updated_at":"2023-02-07T16:19:20-05:00","legisid":"44_1_C-32","parliament":44,"session":1,"prefix":"C","number":32,"title_en":"An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022","title_fr":"Loi portant ex\u00e9cution de certaines dispositions de l\u0027\u00e9nonc\u00e9 \u00e9conomique de l\u0027automne d\u00e9pos\u00e9 au Parlement le 3 novembre 2022 et de certaines dispositions du budget d\u00e9pos\u00e9 au Parlement le 7 avril 2022","bill_num":"C-32","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/bills--projets-de-loi\/44-1\/C-32","legisinfo":"https:\/\/www.parl.ca\/legisinfo\/en\/bill\/44-1\/c-32"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/bills--projets-de-loi\/44-1\/C-32","legisinfo":"https:\/\/www.parl.ca\/LegisInfo\/fr\/projet-de-loi\/44-1\/c-32"}},"pivot":{"publication_id":724,"bill_id":403}}],"bibtex":{"en":"@techreport{PBO-LEG2223023S,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine},\n title={Cost Estimate for the Multigenerational Home Renovation Tax Credit},\n institution={The Office of the Parliamentary Budget Officer},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-LEG2223023S,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine},\n title={\\\u0027{E}valuation du cout du cr\\\u0027{e}dit d\u2019imp\\^{o}t pour la r\\\u0027{e}novation d\u2019habitations multig\\\u0027{e}n\\\u0027{e}rationnelles},\n institution={Bureau du directeur parlementaire du budget},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}"}}

{"id":"RP-2223-018-S","is_published":"2022-10-13T12:57:05.000000Z","release_date":"2022-10-13T13:00:00.000000Z","title_en":"Economic and Fiscal Outlook \u2013 October 2022","title_fr":"Perspectives \u00e9conomiques et financi\u00e8res \u2013 Octobre 2022","internal_id":"RP-2223-018-S","metadata":{"abstract_en":"This report provides a baseline projection to help parliamentarians gauge potential economic and fiscal outcomes under current policy settings.","abstract_fr":"Ce rapport pr\u00e9sente une projection de r\u00e9f\u00e9rence pour aider les parlementaires \u00e0 \u00e9valuer les r\u00e9sultats \u00e9conomiques et financiers possibles dans le cadre des politiques actuelles.","highlights":[{"content":{"en":"Since the beginning of March, the Bank of Canada has increased its policy rate by a total of 300 basis points. We expect the Bank to increase its policy rate further, reaching 4 per cent by the end of this year. With the tightening of monetary policy, PBO projects real GDP growth in Canada to slow considerably in the second half of 2022 and remain weak through 2023.","fr":"Depuis le d\u00e9but du mois de mars, la Banque du Canada a relev\u00e9 son taux directeur de 300 points de base au total et on peut s\u2019attendre \u00e0 ce qu\u2019elle le rel\u00e8ve encore pour qu\u2019il atteigne 4 % d\u2019ici la fin de l\u2019ann\u00e9e. Avec le resserrement de la politique mon\u00e9taire, le DPB pr\u00e9voit un net ralentissement de la croissance du PIB r\u00e9el du Canada pendant la seconde moiti\u00e9 de 2022 et une faible croissance tout au long de 2023."}},{"content":{"en":"As supply constraints ease and commodity prices recede from elevated levels in the first half of 2022, softer demand in 2023 is expected to contribute to sustained reductions in CPI inflation. With CPI inflation solidly on track to return to its 2 per cent target, we expect the Bank of Canada to start lowering its policy interest rate in late 2023.","fr":"Les difficult\u00e9s d\u2019approvisionnement s\u2019estompant et le cours des produits de base baissant par rapport aux niveaux \u00e9lev\u00e9s dans la premi\u00e8re moiti\u00e9 de 2022, le fl\u00e9chissement de la demande en 2023 devrait contribuer \u00e0 la baisse continue de l\u2019inflation des prix \u00e0 la consommation (IPC). Celle-ci \u00e9tant alors en tr\u00e8s bonne voie pour revenir \u00e0 la cible de 2 %, nous nous attendons \u00e0 ce que la Banque du Canada commence \u00e0 baisser son taux directeur \u00e0 la fin de 2023."}},{"content":{"en":"In the absence of final financial results for the past fiscal year, PBO estimates that there was a budgetary deficit of $97.0 billion (3.9 per cent of GDP) in 2021-22. For the current fiscal year 2022-23, PBO projects the deficit to decline to $25.8 billion (0.9 per cent of GDP) under status quo policy.","fr":"En l\u2019absence de r\u00e9sultats financiers d\u00e9finitifs pour le dernier exercice, le DPB estime que le d\u00e9ficit budg\u00e9taire pour 2021-2022 s\u2019\u00e9l\u00e8vait \u00e0 97 milliards de dollars (3,9 % du PIB). Pour l\u2019exercice en cours, 2022-2023, il devrait revenir \u00e0 25,8 milliards de dollars (0,9 % du PIB), si la politique demeure inchang\u00e9e."}},{"content":{"en":"Assuming no new measures are introduced and existing temporary measures sunset as scheduled, the budgetary deficit is projected to decline further, reaching $3.1 billion (0.1 per cent of GDP) in 2027-28, as growth in tax revenue tracks gains in nominal GDP and growth in program spending remains constrained.","fr":"En supposant qu\u2019aucune nouvelle mesure ne sera introduite et que les mesures temporaires actuelles prendront fin comme pr\u00e9vu, le d\u00e9ficit budg\u00e9taire devrait continuer de baisser pour atteindre 3,1 milliards de dollars (0,1 % du PIB) en 2027-2028, la croissance des recettes fiscales suivant la hausse du PIB nominal et l\u2019augmentation des d\u00e9penses de programmes restant limit\u00e9e."}},{"content":{"en":"PBO projects the federal debt-to-GDP ratio to continue to decline from its peak in 2020-21, gradually reaching 36.2 per cent in 2027-28, but remain above its pre-pandemic level. We project the debt service ratio (public debt charges relative to tax revenues) will peak at 11.5 per cent in 2024-25 and then decline gradually, reaching 10.9 per cent in 2027-28.","fr":"Le DPB pr\u00e9voit que le ratio de la dette f\u00e9d\u00e9rale au PIB continuera de baisser par rapport au pic atteint en 2020-2021 pour revenir graduellement \u00e0 36,2 % en 2027-2028, mais qu\u2019il restera sup\u00e9rieur \u00e0 ce qu\u2019il \u00e9tait avant la pand\u00e9mie. Nous pr\u00e9voyons que le ratio du service de la dette (soit le rapport entre les frais de la dette publique et les recettes fiscales) atteindra 11,5 % en 2024-2025, avant de redescendre graduellement \u00e0 10,9 % en 2027-2028."}}]},"updated_at":"2022-10-13T12:57:05.000000Z","type":"RP","slug":"RP-2223-018-S--economic-fiscal-outlook-october-2022--perspectives-economiques-financieres-octobre-2022","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2223-018-S--economic-fiscal-outlook-october-2022--perspectives-economiques-financieres-octobre-2022","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2223-018-S--economic-fiscal-outlook-october-2022--perspectives-economiques-financieres-octobre-2022"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2223-018-S--economic-fiscal-outlook-october-2022--perspectives-economiques-financieres-octobre-2022","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2223-018-S--economic-fiscal-outlook-october-2022--perspectives-economiques-financieres-octobre-2022"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/258865a69ecf369e99f05a9e799d04136ed8c0b04830967d0ad5aecfd59f90f9"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/51a083e93dd377e22512a1bded7c9ec3406c0f7fac7eb2d3cc34b5fb31543ee6"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d7fa73999c04307e23d86d96180e5f91c31033c5a98ee407dc6b62cf9055991a","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/9d332a78925718b07fbda3f93d76ab9bb2aebdba80cd6e29adc6f4cb242d2ddf","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/fbb974d4b634d9d774e0b6d9a8963dcc027d71682e31681f69f8d3b8a772ef81","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b1ed7e24b589eb9697f566532534e451fdf683e36f72b4528766a85f31585db4","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/fd5194e7f1ad4e2700932baba6f3337de968a2b78fbf3ac192ba3f9ddbca25f2","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/569284196971fde0ae04a2fe40f3fb15fd9aeb8212b3a92d03fa50b47895fe1b","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/9c606032b827b08e41f6ef8fcef2179d1759bc6853619320448436732c0eb62c","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4e27d041a155bc9dbb184b1c2a2a5f0188b46d4baea9c42d68345e6e2188e539"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e868718d7e6d6970c4c12049c275e08082aad802f134c34933002ffffb819e10","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f6a27cfedbbd466a775bce54ecdf70d3f89806f124a864cedfd28e534ff00e9f","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/765b7fa64713a56d6569df337c447227e123b34ac1898507a5cadc055ea531f1","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3c2ccb74035ad35fa788f6075f4f194cfa212d85ad15450156ab4e19a9370a68","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/ca52aaabbc28d4b60d603d25ababb7e5100d76064e4e8ffdef1c0cfb6c1ce1d2","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d2b396382ddf283ac93c1e58d239a0485c786a64e9c61c61435e62d76eddc6ad","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b0bd984003014b83e12072b4962d24e1abbf54f1bdcbdac4f1f3a62f069bef29","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6b3117d563ea91e5017f03f8b53059e09c7bd98995dbfa2b78a825de0b37a3d6"}}},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2223018S,\n author={Nahornick, Nora and Nicol, Caroline and Stanton, Jason and Barkova, Lisa and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Vanderwees, Kaitlyn},\n title={Economic and Fiscal Outlook - October 2022},\n institution={The Office of the Parliamentary Budget Officer},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2223018S,\n author={Nahornick, Nora and Nicol, Caroline and Stanton, Jason and Barkova, Lisa and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Vanderwees, Kaitlyn},\n title={Perspectives \\\u0027{e}conomiques et financi\\`{e}res - Octobre 2022},\n institution={Bureau du directeur parlementaire du budget},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}"}}

{"id":"RP-2223-012-S","is_published":"2022-07-28T12:57:10.000000Z","release_date":"2022-07-28T13:00:00.000000Z","title_en":"Fiscal Sustainability Report 2022","title_fr":"Rapport sur la viabilit\u00e9 financi\u00e8re de 2022","internal_id":"RP-2223-012-S","metadata":{"abstract_en":"This report provides PBO\u2019s assessment of the sustainability of government finances over the long term for the federal government, subnational governments and public pension plans.","abstract_fr":"Dans ce rapport le DPB pr\u00e9sente son \u00e9valuation de la viabilit\u00e9 financi\u00e8re \u00e0 long terme du gouvernement f\u00e9d\u00e9ral, des administrations infranationales et des r\u00e9gimes de retraite g\u00e9n\u00e9raux.","highlights":[{"content":{"en":"From the perspective of the total general government sector, that is federal and subnational governments and public pension plans combined, current fiscal policy in Canada is sustainable over the long term. Relative to the size of the Canadian economy, total general government net debt is projected to decline steadily over the long term primarily due to fiscal room at the federal level.","fr":"En ce qui concerne le secteur des administrations publiques consid\u00e9r\u00e9es comme un tout, c\u2019est-\u00e0-dire le gouvernement f\u00e9d\u00e9ral, les administrations infranationales et les r\u00e9gimes de retraite g\u00e9n\u00e9raux pris ensemble, la politique budg\u00e9taire actuelle au Canada est viable \u00e0 long terme. Par rapport \u00e0 la taille de l\u2019\u00e9conomie canadienne, la dette nette de l\u2019ensemble du secteur des administrations publiques devrait diminuer progressivement \u00e0 long terme principalement en raison de la marge de man\u0153uvre financi\u00e8re au niveau f\u00e9d\u00e9ral."}},{"content":{"en":"Current fiscal policy at the federal level is sustainable over the long term. We estimate that the federal government could permanently increase spending or reduce taxes by 1.8 per cent of GDP ($45 billion in current dollars, growing in line with GDP thereafter) while maintaining fiscal sustainability.","fr":"La politique budg\u00e9taire actuelle au niveau f\u00e9d\u00e9ral est viable \u00e0 long terme. Nous estimons que le gouvernement f\u00e9d\u00e9ral pourrait, de fa\u00e7on permanente, augmenter ses d\u00e9penses ou r\u00e9duire ses imp\u00f4ts de 1,8 % du PIB (45 milliards de dollars en dollars courants, augmentant par la suite au rythme du PIB) tout en maintenant la viabilit\u00e9 financi\u00e8re."}},{"content":{"en":"For provincial-territorial, local and Indigenous governments, current fiscal policy is not sustainable over the long term\u2014albeit to a modest extent. We estimate that permanent tax increases or spending reductions amounting to 0.1 per cent of GDP would be required to achieve fiscal sustainability over the long term.","fr":"Pour les administrations provinciales-territoriales, locales et autochtones, la politique budg\u00e9taire actuelle n\u2019est pas viable \u00e0 long terme, bien que dans une mesure modeste. Nous estimons qu\u2019il faudrait augmenter les imp\u00f4ts ou r\u00e9duire les d\u00e9penses en permanence de 0,1 % du PIB pour atteindre la viabilit\u00e9 financi\u00e8re \u00e0 long terme."}},{"content":{"en":"The current structure of the Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) is sustainable over the long term. Under the current structure of the plans, projected contributions and benefits are sufficient to ensure that the net asset-to-GDP position is at or above its 2021 value after 75 years.","fr":"La structure actuelle du R\u00e9gime de pensions du Canada (RPC) et du R\u00e9gime de rentes du Qu\u00e9bec (RRQ) est viable \u00e0 long terme. Selon la structure actuelle des plans, les cotisations et les prestations pr\u00e9vues sont suffisantes pour que la position de l\u2019actif net par rapport au PIB soit \u00e9gale ou sup\u00e9rieure \u00e0 sa valeur de 2021 apr\u00e8s 75 ans."}}]},"updated_at":"2022-07-28T12:57:10.000000Z","type":"RP","slug":"RP-2223-012-S--fiscal-sustainability-report-2022--rapport-viabilite-financiere-2022","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2223-012-S--fiscal-sustainability-report-2022--rapport-viabilite-financiere-2022","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2223-012-S--fiscal-sustainability-report-2022--rapport-viabilite-financiere-2022"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2223-012-S--fiscal-sustainability-report-2022--rapport-viabilite-financiere-2022","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2223-012-S--fiscal-sustainability-report-2022--rapport-viabilite-financiere-2022"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/faf2336e3e33f177db17e07f924f79858bc02357a5d58b1c77a55afc3d0598d8"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/cd43a38a920edb3f0d052e0a807291bc3efe2ba54c82387d5378b204cbf05b7d"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/64d30f3965d40248b57fbaf8002cc3ae495f0a275997652b9648c1792fd5d85e","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5d2f561200af25edd7e00e5b36ed0696941cf189de13c7986962d75d4d300de4","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5b3a161d754e4462d3758315f2d6b0adbee1122d7534cbd71e62d3966a676c5e","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4ddc6bbbbf62a71c542ac4135fb26a13afb06e0294ea353d4544fe242afb2db2","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e19002ead850791370446485498789c9d57aa5c45bd9970fb84c5ccad38e7f4a","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/7bf6659d427b89908c6ec3fce0ef77593a7599e3390db38db327cb61a40498ef","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c21e1cf014674f73c9da71bae9964304b7e5e7a3885cee64e9455423bd6e0891","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/29402b68d07d2f08191cd63fa7853600f0c5021a567cd8ace6862e29e54d5ed1"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b12b07d5bfd0956831f79bf0a08416478ddc5dd82b93437b4a66d53c57e7ae7f","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/384f437ccc54a3cc97f7005d13b41b6b2d68a21b04384402f1d1f741b6c1a4a2","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/509ec720c4008ef8c7b7ec50f3ab902177b2cd09721252d81c8f010b27af0bf4","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d525b4e0ce2ffaa0d9c3f19b606e509b48a6a826288c6b7861d68ae6f9f4b35e","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c15826e42ded842c563528e6f56d2f520fa18977e6c4e96893c25ad3672c7aee","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/46addf1b47701e813ad2f309f8c25bb326875be462929ce9c2a1fbc329de0fbd","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/69e3628c85efdc9718c716e46fb7e5fcdced9037fc8e56eb7639462bd8fd3a07","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/ad71a823b3439bd66005413a835dba55ad85d5719b194e182d900dec6ed60c19"}}},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2223012S,\n author={MacPhee, Sarah and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Kho, Albert and Nicol, Caroline},\n title={Fiscal Sustainability Report 2022},\n institution={The Office of the Parliamentary Budget Officer},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2223012S,\n author={MacPhee, Sarah and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Kho, Albert and Nicol, Caroline},\n title={Rapport sur la viabilit\\\u0027{e} financi\\`{e}re de 2022},\n institution={Bureau du directeur parlementaire du budget},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}"}}

{"id":"RP-2223-004-C","is_published":"2022-05-18T12:57:09.000000Z","release_date":"2022-05-18T13:00:00.000000Z","title_en":"Research and Comparative Analysis of CIRNAC and ISC","title_fr":"RCAANC et SAC \u2013 Recherche et analyse comparative","internal_id":"RP-2223-004-C","metadata":{"abstract_en":"This report presents the PBO\u2019s response to a request by the Standing Committee on Indigenous and Northern Affairs to conduct research and comparative analysis on the Estimates of the Department of Crown-Indigenous Relations and Northern Affairs and the Department of Indigenous Services Canada.","abstract_fr":"Ce rapport pr\u00e9sente la r\u00e9ponse du DPB \u00e0 la demande du Comit\u00e9 permanent des affaires autochtones et du Nord de r\u00e9aliser une recherche et une analyse comparative sur les budgets des d\u00e9penses du minist\u00e8re des Relations Couronne-Autochtones et des Affaires du Nord et du minist\u00e8re des Services aux Autochtones Canada.","highlights":[{"content":{"en":"Over the 2015-2016 to 2022-2023 period there has been a significant increase in the amount of financial resources allocated to providing Indigenous services.","fr":"Au cours de la p\u00e9riode allant 2015-2016 \u00e0 2022-2023, les ressources financi\u00e8res affect\u00e9es \u00e0 l\u2019offre de services aux Autochtones ont beaucoup augment\u00e9."}},{"content":{"en":"This increase in expenditure did not result in a commensurate increase in the ability of the organizations to achieve the targets that they had set for themselves.","fr":"Cette augmentation des d\u00e9penses ne s\u2019est pas traduite par une augmentation proportionnelle de la capacit\u00e9 des organisations \u00e0 atteindre les objectifs qu\u2019elles s\u2019\u00e9taient fix\u00e9s."}},{"content":{"en":"Based on the qualitative review the ability of the organizations to achieve the targets that they have specified has declined.","fr":"Selon l\u2019examen qualitatif, la capacit\u00e9 des organisations \u00e0 atteindre les objectifs qu\u2019elles se sont fix\u00e9s a diminu\u00e9."}}]},"updated_at":"2022-05-18T12:57:09.000000Z","type":"RP","slug":"RP-2223-004-C--research-comparative-analysis-cirnac-isc--rcaanc-sac-recherche-analyse-comparative","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2223-004-C--research-comparative-analysis-cirnac-isc--rcaanc-sac-recherche-analyse-comparative","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2223-004-C--research-comparative-analysis-cirnac-isc--rcaanc-sac-recherche-analyse-comparative"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2223-004-C--research-comparative-analysis-cirnac-isc--rcaanc-sac-recherche-analyse-comparative","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2223-004-C--research-comparative-analysis-cirnac-isc--rcaanc-sac-recherche-analyse-comparative"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/4dd5db44bd0d5ddc57fd166053a5ee6703753a32baa02d6906a3082c84b23a38"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/7ff3bd4c9e80b5b2a10657d51c9435d186920531d139f383e8f93cfbf2d4fa6c"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/76607580a2d5e0a44ae1b99e1fa64ab9fea515426bf3d2052d087bf626a1567d","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e0e16da5c0f9c78f3cce3b29dc90064a2187d2c5872489bfcccd9e429e489f64","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/cd5c1d82373118c2e21a68440f22609f563afcaf71670bd71eb3bf76b2f122fb","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f0b3c4d33738d49b512eea1b1cfc6fd4e97ffbbb5d91d72f9a273ae9c8a9f5bb","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/2779f8423f18b384f6b2cd207b6c20871e7be3afcca7f6d380b679ded361f563","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b9285e81a20730cbd50da2c1532a85b91ca4f27c5af192daf8d1870d0e3059c7","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/ed6d661320021623da564cf1b82c8d84cdd25cc81ed9aefe9846a65e9cddc104","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/cde41d721602ae4debe76841d728dc0802de313ef97be30ce4602580bccabe5c"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/1f2a8ad86c177c8e09c4e42472b74bcadf6e18a3c67990761dc171f5e8b617c7","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/bf90f5724a6e6512dd3b8125885df0961f1942ddaf6f7248f2dbe7ab42ecb840","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/59a66218fccc91543764f57d2bfc71a98491b70a9462ef08982f7be3ab993b42","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a04c3620c5c60ae8916e4edb453ba130b3019526b43c23c580cf31c50e3e8f5e","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/bff3c263e382e7b23b758eee6c5e16ede347fa25f23fbbffa95f41dc053a1bdf","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/7d42e373c697b2b010c95f5dd93d57c3a258f552115357cc5f6b18ecbbc39cd7","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d48d5d1bc2d6e033b0502b58ed5b5d0697493a27ed61b1a458a6cd9678a22b9c","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/56808be1eb8390915f625fdb44182196bd77d4482d1c5a72008acbde2f58bf66"}}},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2223004C,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark},\n title={Research and Comparative Analysis of CIRNAC and ISC},\n institution={The Office of the Parliamentary Budget Officer},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2223004C,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark},\n title={RCAANC et SAC - Recherche et analyse comparative},\n institution={Bureau du directeur parlementaire du budget},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}"}}

{"id":"RP-2122-036-S","is_published":"2022-03-29T12:57:07.000000Z","release_date":"2022-03-29T13:00:00.000000Z","title_en":"International Comparison of the Canada Revenue Agency\u2019s Performance","title_fr":"Comparaison internationale du rendement de l\u2019Agence du revenu du Canada","internal_id":"RP-2122-036-S","metadata":{"abstract_en":"This report compares Canada\u2019s tax administration performance with that of comparable countries with a set of indicators derived from the International survey on Revenue Administration (ISORA) 2020. ISORA is administered every two years, collecting data on the previous two fiscal years from over 150 national or federal tax administrations around the globe.","abstract_fr":"Ce rapport compare le rendement du Canada en mati\u00e8re d\u2019administration fiscale \u00e0 celui de pays comparables \u00e0 l\u2019aide d\u2019un ensemble d\u2019indicateurs tir\u00e9s d\u2019ISORA (International Survey on Revenue Administration, Enqu\u00eate internationale sur les administrations fiscales) de 2020. R\u00e9alis\u00e9e tous les deux ans, l\u2019enqu\u00eate ISORA recueille des donn\u00e9es sur les deux derniers exercices financiers aupr\u00e8s de plus de 150 administrations fiscales nationales ou f\u00e9d\u00e9rales du monde entier.","highlights":[{"content":{"en":"From Budget 2016 to Budget 2021, the federal government announced over $3 billion in additional funding to the Canada Revenue Agency (CRA), over the 2016-17 to 2025-26 fiscal years, for multiple initiatives with nearly $2 billion specifically for compliance activities.","fr":"Du budget de 2016 au budget de 2021, le gouvernement f\u00e9d\u00e9ral a annonc\u00e9 un financement suppl\u00e9mentaire destin\u00e9 \u00e0 plusieurs initiatives, soit plus de 3 milliards de dollars \u00e0 l\u2019Agence du revenu du Canada (ARC) pour les exercices financiers 2016-2017 \u00e0 2025-2026, dont pr\u00e8s de 2 milliards de dollars consacr\u00e9s aux activit\u00e9s d\u2019observation."}},{"content":{"en":"Even with all the funding announcements since Budget 2016, CRA\u2019s spending excluding transfer payments will not have increased significantly over the 2017 to 2024 period after accounting for inflation.","fr":"En d\u00e9pit de toutes les annonces de financement faites depuis le budget de 2016, les d\u00e9penses de l\u2019ARC, lorsqu\u2019on exclut les paiements de transfert et qu\u2019on tient compte de l\u2019inflation, n\u2019auront pas augment\u00e9 de fa\u00e7on notable au cours de la p\u00e9riode de 2017 \u00e0 2024."}},{"content":{"en":"The only areas where Canada significantly outperformed the comparable countries were in terms of the value of additional assessments for value added tax and the number of audits conducted per auditor. This is expected since the CRA conducts a high volume of relatively less complex value added tax audits.","fr":"Les seuls aspects pour lesquels le Canada a surclass\u00e9 consid\u00e9rablement les pays comparables sont les cotisations suppl\u00e9mentaires de taxe sur la valeur ajout\u00e9e et le nombre de dossiers trait\u00e9s par v\u00e9rificateur. Cela est pr\u00e9visible, car l\u2019ARC effectue un volume \u00e9lev\u00e9 de v\u00e9rifications relativement peu complexes de la taxe sur la valeur ajout\u00e9e."}},{"content":{"en":"Canada performed relatively poorly in terms of arrears compared to the other countries, especially with respect to corporate income tax and value added tax arrears. The ISORA survey contains no details on the type of taxpayers owing these arrears (i.e., small vs large corporations). However, Canada\u2019s performance could be indicative of, for example, a preference from the tax administration to not pursue aggressively small business owners.","fr":"Le Canada a obtenu un rendement relativement faible en ce qui concerne les arri\u00e9r\u00e9s par rapport aux autres pays, surtout en ce qui concerne les arri\u00e9r\u00e9s d\u2019imp\u00f4t sur le revenu des soci\u00e9t\u00e9s et de taxe sur la valeur ajout\u00e9e. L\u2019enqu\u00eate ISORA ne contient aucun d\u00e9tail sur le type de contribuables redevables de ces arri\u00e9r\u00e9s (c.-\u00e0-d. petites ou grandes entreprises). Cependant, le rendement du Canada pourrait indiquer, par exemple, que l\u2019administration fiscale pr\u00e9f\u00e8re ne pas poursuivre activement les propri\u00e9taires de petites entreprises."}},{"content":{"en":"Canada is among the worst performers regarding cost of collection ratios, outperforming only Germany. However, cost of collection ratios must be interpreted with caution. An underfunded tax administration is likely to present a high-performance ratio but might be losing a lot of potential revenue because it does not have the resources to conduct audits.","fr":"Le Canada est un des pays les moins performants au chapitre du ratio de perception, devan\u00e7ant seulement l\u2019Allemagne. Cependant, les ratios des frais de perception doivent \u00eatre interpr\u00e9t\u00e9s avec prudence. Une administration fiscale sous-financ\u00e9e est susceptible de pr\u00e9senter un ratio \u00e9lev\u00e9, mais risque de se priver de revenus potentiels importants parce qu\u2019elle ne dispose pas des ressources n\u00e9cessaires pour effectuer des v\u00e9rifications."}}]},"updated_at":"2022-03-29T12:57:07.000000Z","type":"RP","slug":"RP-2122-036-S--international-comparison-canada-revenue-agency-performance--comparaison-internationale-rendement-agence-revenu-canada","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2122-036-S--international-comparison-canada-revenue-agency-performance--comparaison-internationale-rendement-agence-revenu-canada","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2122-036-S--international-comparison-canada-revenue-agency-performance--comparaison-internationale-rendement-agence-revenu-canada"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2122-036-S--international-comparison-canada-revenue-agency-performance--comparaison-internationale-rendement-agence-revenu-canada","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2122-036-S--international-comparison-canada-revenue-agency-performance--comparaison-internationale-rendement-agence-revenu-canada"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/e2bcced243ea50b47d3797c3a2516d84472f9fd5f16f7bf739eb7237e28d93a0"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/d22685bbb9c76c164eeffd5a29bf63fe6bea4fb2cf1b68d2ce67c79f24f15b1b"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0b5f9598455722fac8bef7826837676c7850f889cb55de2f3f81b5134a070362","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/ec0199122240a3abccb0b3d78958b980c07448c30c59db5cd1593163d7d69b17","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4efdd335e86db1522e30f496a20a205d562deb26d82c0dd95390a101b10dd825","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/1980ce5f9c3198881a4386a36b0ae401aad11296d074710b252e72f91a60a04a","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/40aa9f977eb218b825dbe63bc7e471538ba68a81ea665e09704554a8549bf258","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/952e1849d1694c068bbc80e9d4f3d62f6d1d38c6f48f8ec0f66d47b497634f87","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a851eaaff1c5bd753689f5755c680d6b79221db628164fa058049c7c9f515596","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d0f3a5f117c5f81b37810798caaea489210dfe5a8ac34fb7986ac334c38b926b"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/051b1bdd9c09ec2762f39e562714306186ec0c4099d55382d708f165af9b9690","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/76ccc3af87d33e1c26af25fa4a27af9226df05be33fe5460d03a085d06f9fafa","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/099d06d5f664971b9d3944a472ebdf7288b22e6eaec72572dbc75ef554045188","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3d75905d0680199b2881637cb1629e83dbd616406cf1aec1510bc4ef34bf3fd2","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/34360d84af5fc80abc1d32ca1c30970f375d96f698c25e97f9b64eed7c4c6a2e","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3f1007dbec2693c0a1640239508f537fa77a7995535b0f18c847de5ffbbe2aa5","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a13f2c163e84faf4643352346ddc73341d63d6d773c04269451a319314a351a9","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d93eb4de634032dc7f100f8d6139875da654f8ea054c9f42d56feb864174bd80"}}},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2122036S,\n author={Bernier, Govindadeva and Cl\\\u0027{e}ophat, R\\\u0027{e}gine},\n title={International Comparison of the Canada Revenue Agency\u2019s Performance},\n institution={The Office of the Parliamentary Budget Officer},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2122036S,\n author={Bernier, Govindadeva and Cl\\\u0027{e}ophat, R\\\u0027{e}gine},\n title={Comparaison internationale du rendement de l\u2019Agence du revenu du Canada},\n institution={Bureau du directeur parlementaire du budget},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}"}}

{"id":"RP-2122-030-S","is_published":"2022-03-01T14:00:03.000000Z","release_date":"2022-03-01T14:00:00.000000Z","title_en":"Economic and Fiscal Outlook \u2013 March 2022","title_fr":"Perspectives \u00e9conomiques et financi\u00e8res \u2013 Mars 2022","internal_id":"RP-2122-030-S","metadata":{"abstract_en":"This report provides a baseline projection to help parliamentarians gauge potential economic and fiscal outcomes under current policy settings.","abstract_fr":"Ce rapport pr\u00e9sente des pr\u00e9visions de r\u00e9f\u00e9rence pour aider les parlementaires \u00e0 \u00e9valuer les r\u00e9sultats \u00e9conomiques et budg\u00e9taires possibles en vertu des cadres d\u2019action actuels.","highlights":[{"content":{"en":"PBO projects growth in the Canadian economy to rebound sharply in the second quarter and remain robust in the second half of 2022 as the reopening of the economy continues.","fr":"Le DPB pr\u00e9voit que la croissance de l\u2019\u00e9conomie canadienne reprendra nettement au cours du deuxi\u00e8me trimestre et qu\u2019elle demeurera solide durant la deuxi\u00e8me moiti\u00e9 de 2022 alors que se poursuit la r\u00e9ouverture progressive de l\u2019\u00e9conomie."}},{"content":{"en":"Based on our outlook for inflation and the output gap, PBO projects that the Bank of Canada will increase its policy interest rate by a cumulative 75 basis points, lifting its rate to 1.00 per cent by the end of 2022.","fr":"En s\u2019appuyant sur ses perspectives concernant l\u2019inflation et l\u2019\u00e9cart de production, le DPB pr\u00e9voit que la Banque du Canada va augmenter son taux directeur de 75 points de base cumulatifs, relevant le taux \u00e0 1 % d\u2019ici la fin de 2022."}},{"content":{"en":"PBO projects a budget deficit of $139.8 billion (5.6 per cent of GDP) in 2021-22 and $47.9 billion (1.8 per cent of GDP) in 2022-23. We project the federal debt-to-GDP ratio to peak at 47.7 per cent in 2021-22 and then gradually decline over the medium term to 42.3 per cent.","fr":"Le DPB pr\u00e9voit un d\u00e9ficit budg\u00e9taire de 139,8 milliards de dollars en 2021-2022 (5,6 % du PIB) et de 47,9 milliards de dollars en 2022-2023, soit 1,8 % du PIB. Le ratio de la dette f\u00e9d\u00e9rale au PIB devrait atteindre un sommet \u00e0 47,7 % du PIB en 2021-2022 avant de revenir progressivement \u00e0 moyen terme \u00e0 42,3 %."}},{"content":{"en":"Due to low interest rates, the cost of servicing the federal debt reached its lowest recorded level in 2020-21 of 7.2 per cent of tax revenues. While interest rates are projected to rise, the debt service ratio will remain low, reaching 11.5 per cent of tax revenues over the medium term.","fr":"\u00c9tant donn\u00e9 les faibles taux d\u2019int\u00e9r\u00eat, le co\u00fbt de service de la dette f\u00e9d\u00e9rale a atteint son niveau le plus bas enregistr\u00e9 en 2020-2021, \u00e0 7,2 % des recettes fiscales. Malgr\u00e9 la hausse anticip\u00e9e des taux d\u2019int\u00e9r\u00eat, le ratio du service de la dette du gouvernement demeurera bas, atteignant 11,5 % des recettes fiscales \u00e0 moyen terme."}}]},"updated_at":"2022-03-01T14:00:03.000000Z","type":"RP","slug":"RP-2122-030-S--economic-fiscal-outlook-march-2022--perspectives-economiques-financieres-mars-2022","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2122-030-S--economic-fiscal-outlook-march-2022--perspectives-economiques-financieres-mars-2022","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2122-030-S--economic-fiscal-outlook-march-2022--perspectives-economiques-financieres-mars-2022"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2122-030-S--economic-fiscal-outlook-march-2022--perspectives-economiques-financieres-mars-2022","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2122-030-S--economic-fiscal-outlook-march-2022--perspectives-economiques-financieres-mars-2022"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/3b26ede6fae896559139165f58afe8e6bf10ca44163553a90673a2a202748f9b"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/ce266b874d5cf5681fc702ab435a15c3c5d220171125b8351c1ad6451d5665fc"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/adad829cca697f0c4c01bfc56c21242a1dc12f688663fc0c3908c990f335e1f8","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/7280200957304b941e0e9011a9bcbfce3a44857dd754d179c0c181510426b924","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d4f43663ae762caa859a06ffaec35e55cff64724a49af75c7b6b63221ae89a99","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/32d182a695a4a33e141d2c9d2c7cf497e370a3c6774d9f7bc19e44adeea3c0d2","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/152810610eb1b2c1567c437df5e8429c3d3a840f5c3306f302f031eb9476d576","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5a62e91991aa8a240d5b65e6cff55c7d7d0312103bcb0df4cf94b7ac0d0d19a9","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/ca5d1a67a614892f90f33d231548f7e94524c24bf0fea1227fdb8228467088d4","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/07797ba08dc2b3c77a49bf89ac8eb690f32cd1f10de694767fce8f1f853cdd82"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6da24b5271909c06c819dbb56e2ef3d689d8d0ebd56ebf951356e09a63f19502","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e4727c7519d9e95edb531319af7ee5916ad89394e7ea6f5a4db90dfd9745386c","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/126ed143c863b1a2c8a83b72f79e6463b5e0fef81479cf16f9293f003e05a23a","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/687dd5d99ac9d127d8226bf86f1d0c3cbfa222416b749d7cb31d42fa5428ebb1","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/7640d17462dd1a6607140ceab75103832587a70d1e9ee3d7dc571f3fad141aee","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0d15b7bbcb508c547f55240af627127e1dbc89c50752f3d988a7d7c546b082be","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/19126bb571aade4c047d611e196e589cf85c986fb7b04cadb68f40d971faa89a","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6bf5bf0d768ead3b26017514afef4c804fba4a57bbc2faf673e1ac6ac8950ba8"}}},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2122030S,\n author={Nahornick, Nora and Nicol, Caroline and Stanton, Jason and Ammar, Nasreddine and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Duncan, Krista and Forsyth, Jamie and Giswold, Jill and MacPhee, Sarah and Michalyshyn, Katarina and Segel-Brown, Ben and Sourang, Diarra and Vanderwees, Kaitlyn},\n title={Economic and Fiscal Outlook - March 2022},\n institution={The Office of the Parliamentary Budget Officer},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2122030S,\n author={Nahornick, Nora and Nicol, Caroline and Stanton, Jason and Ammar, Nasreddine and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Duncan, Krista and Forsyth, Jamie and Giswold, Jill and MacPhee, Sarah and Michalyshyn, Katarina and Segel-Brown, Ben and Sourang, Diarra and Vanderwees, Kaitlyn},\n title={Perspectives \\\u0027{e}conomiques et financi\\`{e}res - Mars 2022},\n institution={Bureau du directeur parlementaire du budget},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}"}}

{"id":"LEG-2122-033-S","is_published":"2022-02-28T15:00:06.000000Z","release_date":"2022-02-28T15:00:00.000000Z","title_en":"Volunteer Firefighters and Search and Rescue Volunteers Tax Credit Enhancement","title_fr":"Bonification du cr\u00e9dit d\u2019imp\u00f4t pour les pompiers volontaires et les volontaires participants \u00e0 des activit\u00e9s de recherche et de sauvetage","internal_id":"LEG-2122-033-S","metadata":{"abstract_en":"The proposed measure increases the tax credit for volunteer firefighters and search and rescue volunteers to $10,000 from $3,000 for individuals that have completed 200 hours of volunteer service in a calendar year. The measure applies to the 2022 and subsequent taxation years.\n\nThe PBO estimates that the proposed measure will generate a 5-year cost of $171 million.","abstract_fr":"La mesure propos\u00e9e fait passer le montant du cr\u00e9dit d\u2019imp\u00f4t pour les pompiers volontaires et les volontaires participant \u00e0 des activit\u00e9s de recherche et de sauvetage de 3 000 $ \u00e0 10 000 $ pour les personnes ayant effectu\u00e9 200 heures de service volontaire au cours d\u2019une ann\u00e9e civile. La mesure s\u2019applique aux ann\u00e9es d\u2019imposition 2022 et suivantes.\n\nLe DPB \u00e9value \u00e0 171 millions de dollars sur cinq ans le co\u00fbt de la mesure propos\u00e9e.","highlights":[]},"updated_at":"2022-02-28T15:00:06.000000Z","type":"LEG","slug":"LEG-2122-033-S--volunteer-firefighters-search-rescue-volunteers-tax-credit-enhancement--bonification-credit-impot-pompiers-volontaires-volontaires-participants-activites-recherche-sauvetag","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/LEG-2122-033-S--volunteer-firefighters-search-rescue-volunteers-tax-credit-enhancement--bonification-credit-impot-pompiers-volontaires-volontaires-participants-activites-recherche-sauvetag","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/LEG-2122-033-S--volunteer-firefighters-search-rescue-volunteers-tax-credit-enhancement--bonification-credit-impot-pompiers-volontaires-volontaires-participants-activites-recherche-sauvetag"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/LEG-2122-033-S--volunteer-firefighters-search-rescue-volunteers-tax-credit-enhancement--bonification-credit-impot-pompiers-volontaires-volontaires-participants-activites-recherche-sauvetag","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/LEG-2122-033-S--volunteer-firefighters-search-rescue-volunteers-tax-credit-enhancement--bonification-credit-impot-pompiers-volontaires-volontaires-participants-activites-recherche-sauvetag"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/ef3fe88a2f1582ad004579025aa4bab698a6ce28438769f2ca0287d997241356"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/16d90841f3410362ef7047d57cf951173abd61fba5fa0d6ae22495e95112618b"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/77ba0959a4b4627109e4656a210b928b0021d376038146f685c793b446e4a391","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d64f6bb7fa9fa59c62d72ffea20f20b3687ffdf815f952f5e584e50d526ee213","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/bf9ee04ab619c0ca86e80dc3764269de9eeb458effb8905934f127e44017b467","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4d077369e53ac5ffab388c2575bef3c32dfa6090961875eb12bf8c9f074a68a3","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/52caf7322944879a906834fbf3297e3ea956ab09c4af50943be5eccba0a4035a","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6ab2fd95881c98ed68a3250a78f2eee5f3126de4017c53bf0b25837781e54621","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/32bd7360ce7eb691ae43eadefde5e7cc93906c6752194d5c49ec3fa610014627","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/ef2292d4c0a39cfb949498a5b874892bbf3c789bfc2221f787b7c466e0afee23"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/96505972624ee83fe421481b084f7b6e9ef0beed0ce690627083821debca38cf","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5004312f122b2487df39df1b74caa9f9c408aed1199d77338dd0cf8cfc483182","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a031f9874d7669140f00ac7a226175ffcb4428ab517fae11fece7ca69b619705","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c11718dd025a8cfd023842ff76c415b5fc83a12e7687aa2499e7829adb3c094d","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f4abd6f0027b230d3d33f0c0911c9557ed2b06634491aa42a7f6d0dad766306d","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/38f64efc5d1c564a88e913406702fd820ddaa813b95ae454cf2620066a66f3a7","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e791e3dbf84e9233acfe99c7e7382811c0375d98c479fe7f1f196c9b1f77b251","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e41810dfa76d660dd30baba3c38af8851cdbb369dbf991c91740c9c61bb056b1"}}},"bills":[{"id":232,"created_at":"2021-11-25T10:29:53-05:00","updated_at":"2022-02-28T10:00:06-05:00","legisid":"44_1_C-201","parliament":44,"session":1,"prefix":"C","number":201,"title_en":"An Act to amend the Income Tax Act (volunteer firefighting and search and rescue volunteer services)","title_fr":"Loi modifiant la Loi de l\u2019imp\u00f4t sur le revenu (services de pompier volontaire et de volontaire en recherche et sauvetage)","bill_num":"C-201","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/bills--projets-de-loi\/44-1\/C-201","legisinfo":"https:\/\/www.parl.ca\/legisinfo\/en\/bill\/44-1\/c-201"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/bills--projets-de-loi\/44-1\/C-201","legisinfo":"https:\/\/www.parl.ca\/LegisInfo\/fr\/projet-de-loi\/44-1\/c-201"}},"pivot":{"publication_id":655,"bill_id":232}}],"bibtex":{"en":"@techreport{PBO-LEG2122033S,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine},\n title={Volunteer Firefighters and Search and Rescue Volunteers Tax Credit Enhancement},\n institution={The Office of the Parliamentary Budget Officer},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-LEG2122033S,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine},\n title={Bonification du cr\\\u0027{e}dit d\u2019imp\\^{o}t pour les pompiers volontaires et les volontaires participants \\`{a} des activit\\\u0027{e}s de recherche et de sauvetage},\n institution={Bureau du directeur parlementaire du budget},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}"}}

{"id":"RP-2122-025-S","is_published":"2021-12-17T14:00:11.000000Z","release_date":"2021-12-17T14:00:00.000000Z","title_en":"Fiscal Analysis of Proposed Premium Reduction for Mortgage Insurance","title_fr":"Analyse financi\u00e8re du projet de baisse des primes d\u2019assurance pr\u00eat hypoth\u00e9caire","internal_id":"RP-2122-025-S","metadata":{"abstract_en":"This note provides fiscal analysis of the Government\u2019s proposal to reduce mortgage insurance premiums collected by the Canada Mortgage and Housing Corporation (CMHC).","abstract_fr":"La pr\u00e9sente note fournit une analyse financi\u00e8re de la proposition du gouvernement de r\u00e9duire les primes d\u2019assurance pr\u00eat hypoth\u00e9caire per\u00e7ues par la Soci\u00e9t\u00e9 canadienne d\u2019hypoth\u00e8ques et de logement (SCHL).","highlights":[{"content":{"en":"The Liberal Party of Canada\u2019s 2021 electoral platform proposed a 25% decrease in the mortgage insurance premiums charged by the Canada Mortgage and Housing Corporation (CMHC) while also increasing maximum insurable sale price to $1.25 million, which is to subsequently be indexed to inflation.","fr":"Dans sa plateforme \u00e9lectorale de 2021, le Parti lib\u00e9ral du Canada a propos\u00e9 de r\u00e9duire de 25 % les primes d\u2019assurance pr\u00eat hypoth\u00e9caire exig\u00e9es par la Soci\u00e9t\u00e9 canadienne d\u2019hypoth\u00e8ques et de logement (SCHL) tout en portant \u00e0 1,25 million de dollars le prix de vente maximum assurable, montant qui doit \u00eatre index\u00e9 \u00e0 l\u2019inflation par la suite."}},{"content":{"en":"PBO analysis finds that the cost of this measure will be $1.4 billion over five fiscal years.","fr":"D\u2019apr\u00e8s l\u2019analyse du DPB, cette mesure co\u00fbtera 1,4 milliards de dollars sur cinq ans."}},{"content":{"en":"PBO estimates that this measure would provide the average home buyer a one-time savings of $5,341 in 2022-2023, increasing to $5,863 in 2026-2027.","fr":"Le DPB \u00e9value \u00e0 5 341 $ l\u2019\u00e9conomie ponctuelle que pourrait r\u00e9aliser l\u2019acheteur moyen en 2022-2023, \u00e9conomie qui passerait \u00e0 5 863 $ en 2026-2027."}},{"content":{"en":"Having considered alternative scenarios PBO does not anticipate that CMHC will be able to increase the number of homes it insures or its market share to the point where the policy would be revenue neutral.","fr":"Ayant examin\u00e9 d\u2019autres sc\u00e9narios, le DPB ne croit pas que la SCHL pourra augmenter le nombre des maisons qu\u2019elle assure ou sa part de march\u00e9 au point de compenser l\u2019incidence de la politique sur les recettes."}}]},"updated_at":"2021-12-17T14:00:11.000000Z","type":"RP","slug":"RP-2122-025-S--fiscal-analysis-proposed-premium-reduction-mortgage-insurance--analyse-financiere-projet-baisse-primes-assurance-pret-hypothecaire","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2122-025-S--fiscal-analysis-proposed-premium-reduction-mortgage-insurance--analyse-financiere-projet-baisse-primes-assurance-pret-hypothecaire","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2122-025-S--fiscal-analysis-proposed-premium-reduction-mortgage-insurance--analyse-financiere-projet-baisse-primes-assurance-pret-hypothecaire"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2122-025-S--fiscal-analysis-proposed-premium-reduction-mortgage-insurance--analyse-financiere-projet-baisse-primes-assurance-pret-hypothecaire","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2122-025-S--fiscal-analysis-proposed-premium-reduction-mortgage-insurance--analyse-financiere-projet-baisse-primes-assurance-pret-hypothecaire"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/4128f9f35f024e7208563dca798e36747e1b71ebff32fb19a1942c30479f67bc"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/dc73e38003a4644ceace8a57262d3612a082889b20b9ecac89d3f567d89f16f7"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/660bd4a342a2cbaec72bafa495a7df578d545cf825b38b4b15a33e480a28ac65","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/94ed0ececa9e5396572e36bed35889d347c00f646491856076a7f7033f6e78d7","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/11ebdbd6ba313a6ac68e5be3b773aadd2ed0e391217e5ec3ab14e9a45e1466b6","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/dd27ca3e19d9f8b22583ee4569745be2e68d794ee598ab82834ccf28e3171c28","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d552b6566e701b200903f76cbb2fe4ee756fc1fc130207a811846c1d108ea619","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f231446ae5fa8114906f5a9eb4e3dedd31cb12f9446f9f6cd60a114503cb453f","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/68154d627c7afb037a54330ddccaad129b7aae3f4cf459670bd0d3b3ad510acf","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b13bf224f0bdd99697e143aa655c669caf2c51cfb3d409ef75fbf84a68be3399"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/ea94dbb57d0cc0a31e7407993bd73afe58bfe98f4db8cc37ffaaa17226d7ea01","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/062da5fe15ad378d61fa78b5e6e719653786dbca3c7d653064b1744104b33c01","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/913500b876abca9614f867c6f0ec90c02209cd5161fb024550eb20d222aa51ec","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/bd4d676e6c578253a33d1b7b9dae4be92a58507e230c7258ad286ed70057ec83","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/8ecbaaddbcadbcc61a43aa3cdc981d71ec09cd624811e99b9a2f4c2da2260908","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/7a96e491837057abcd48d0522adb7bb79d7a8303719384266b5afed6f6537710","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/890ce5de788ca5ed07beac3f0d0c198067b6fa84338df95a5b0d1e57871115b7","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/803d45216752ac5245fbda3b8ecaab59b52c39f7891594f7c25a96a0b6ac13ea"}}},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2122025S,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Perrault, Louis},\n title={Fiscal Analysis of Proposed Premium Reduction for Mortgage Insurance},\n institution={The Office of the Parliamentary Budget Officer},\n year=2021,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2122025S,\n author={Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Perrault, Louis},\n title={Analyse financi\\`{e}re du projet de baisse des primes d\u2019assurance pr\\^{e}t hypoth\\\u0027{e}caire},\n institution={Bureau du directeur parlementaire du budget},\n year=2021,\n \n address = \u0022Ottawa, ON\u0022\n}"}}