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Liberals reveal cost of election platform

Last Updated Sep 26, 2015 at 1:13 pm MDT

(Courtesy Liberal Party of Canada
Summary

Liberals claim they can add almost $146.5 billion in new spending over the next four years, and still balance the budget

A big day for the Liberals on the campaign trail. They have just unveiled the cost of their election platform.

The party claims it can add almost $146.5 billion in new spending over the next four years, and still balance the budget with an end-of-term surplus of about one billion.

To get there, the Liberals plan to find billions in savings from eliminating a number of tax breaks, cutting back on government spending, and cracking down on tax evasion.

UBC Economics Professor Kevin Milligan believes they can pull it off. “There is going to be more expenditures on things like infrastructure in the first two years and then they kind of ramp them down in years three and four of the plan. On the revenue side they have some plans to raise some additional revenue in years three and four of the plan which will again help pull us towards a balanced budget.”

The Grits are also promising to expand the mandate of the Parliamentary Budget Officer to allow it to check the costing of any promises parties make during federal elections.