Parliament’s spending watchdog says three federal measures to help low-income earners, families and seniors weather the economic shock from the coronavirus pandemic will cost over $8 billion.
The reports on Thursday morning from budget officer Yves Giroux say a special GST credit payment to 13.2 million people will cost $5.67 billion.
A top-up to the Canada Child Benefit in May to 3.4 million recipients will cost $1.9 billion, Giroux says, with the average payment estimated at $556.
And reducing by 25 per cent the amount seniors have to withdraw this year from registered retirement income funds will cost $506.5 million, the budget officer says. [ Sign up for our Health IQ newsletter for the latest coronavirus updates ] The reports come just