Official government budget documents and announcements

PBO Reports Cabinet's $10B Underestimation in Climate Tax Credits

Jul 4, 2024, 02:50 PM

The Parliamentary Budget Office (PBO) has reported a significant underestimation in the cost of climate tax credits by the Canadian government. The actual expenses are projected to be $10 billion higher than what was estimated in Budget 2024. This discrepancy was identified by PBO analysts who uncovered an error in the calculation of the expenses. Cabinet underreported the cost of 'clean electricity' and other climate tax credits.