With less than two weeks to go in the campaign, the Parliamentary Budget Officer says he has returned 75 of 100 costing requests, but the Conservatives have not authorised release of any of theirs yet. The Liberals appear to have released most of theirs, and the NDP have only released two so far – but theirs are both fairly problematic.
Their first costing was for their pharmacare plan, basing it on Quebec’s 2016 formulary, and drawing their assumptions out from there for five years, and presumes that they could get a national plan up and running by next year using that formulary as an example. That’s a virtual impossibility, and a national formulary still needs to be negotiated (which the Canadian Drug Agency Transition Office is set up to coordinate once more provinces sign on), but hey, they got the PBO’s stamp of approval. Their costing for their wealth tax is also loaded with plenty of poor assumptions, has a huge uncertainty around a behavioural response – tax avoidance is a whack-a-mole problem – and most importantly, the base assumption is for a tax on “economic families,” when our tax system is built around individual filers. They would need to create a whole new tax system to capture this one percent of net wealth. And as Lindsay Tedds points out, there is no way this could be administered to get revenues for the current taxation year, but hey, the PBO put his stamp of approval on that one too.
https://twitter.com/LindsayTedds/status/1435346365228400643
https://twitter.com/LindsayTedds/status/1435349658805624834
The notion that the PBO should do platform costing because he’s “neutral” is a poor move, because costing is an inherently political exercise. It requires implementation decisions that have huge effects on what is being projected, and those are decisions that he should be far away from.