Conservative Leader Andrew Scheer responds to a question during a news conference in Montreal on April 19, 2018. The parliamentary budget office released a report this morning saying Bill C-394, which would bring in a tax credit for those on parental leave, would result in foregone revenues of $607.6 million in 2018-19. PAUL CHIASSON / THE CANADIAN PRESS

Proposed Conservative parental tax credit would cost $600M or higher: PBO

Conservative Leader Andrew Scheer’s proposed tax credit for parents would cost the federal government over $600 million dollars in lost revenues in the first year

A new report by the parliamentary budget watchdog says Conservative Leader Andrew Scheer’s proposed tax credit for parents would cost federal coffers more than $600 million in the first year — and possibly even more.

The parliamentary budget office released a report this morning saying if passed, Bill C-394 — which includes a tax credit for those on parental leave — would mean foregone revenues of $607.6 million in 2018-19.

Because not all families would be able to claim the total amount in the first year, an additional $261 million in costs would likely be added in future years.

In its 2018 budget, the Trudeau government announced changes to provide additional weeks of parental leave for families with both parents taking time off to care for a newborn.

The PBO estimates Scheer’s proposed measure would increase the cost of the Liberal government’s benefit by an additional $24.1 million.

Scheer tabled his private member’s bill last month, promoting it as a way to help new parents offset any taxes owing on their maternity and parental leave.

Related: Baloney Meter: Are feds crossing $1-trillion mark on market debt for first time?

Related: Andrew Scheer in the Shuswap

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Ministry denies request for air quality monitoring in Revelstoke

Revelstoke City Council’s request that an air quality monitoring system be re-established… Continue reading

More wildfires discovered near Lumby, Cherryville

Canadian Armed Troops in Okanagan, Mabel Creek blaze creeps towards lake

Naramata firefighters diverted after fires breaches Burns Lake camp

The crew was sent to Vanderhoof after a wildfire reportedly overtook a camp near Burns Lake

UPDATE: Kelowna’s crying judge refuses to pull herself from case

Judge Monica McParland has refused to pull herself off the case.

Okanagan water board seeks mussels funding

Okanagan Basin Water Board sends request to new federal fisheries minister

Armed Troops in Okanagan to help firefighters

Canadian Armed Forces arrived in Vernon Thursday, being deployed to West Kelowna fire

Cool Creek blaze near Princeton growing with “extreme fire behaviour”

The Cool Creek Fire burning 22 km east of Eastgate has merged… Continue reading

UPDATE: BC Wildfire boxes in Summerland blaze

A fire sparked earlier in the evening near Summerland is “completely boxed… Continue reading

New blaze near Summerland highly visible

Provincial crews are responding Friday evening to a new fire west of… Continue reading

Safeway union urges prejection of mediator recommendations

Says mediator asks for too many concessions

Naramata firefighters diverted after fires breaches Burns Lake camp

The crew was sent to Vanderhoof after a wildfire reportedly overtook a camp near Burns Lake

To address peacock problem, B.C. city moves ahead on trapping plan

Surrey’s new bylaw focuses on ensuring people no longer feed the birds, ahead of relocation

Hospitals to see ‘delays’ in care after losing Saudi students, health group says

About 1,000 Saudi residents called back to kingdom after suspending diplomatic relations with Canada

Bernier diatribe against ‘extreme multiculturalism’ boosts Liberal coffers

Party spokesperson Braeden Caley says online donations doubled, social media engagement quadrupled

Most Read