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

Chilliwack school board to foot $30,000 to $35,000 bill for judicial recount

Recount of 24,700 ballots changed the seventh- and eight-place candidate differential by one vote

Safety fencing goes up in preparation for downtown Chilliwack redevelopment

There is a buzz in the air as the Algra development details are gradually coming into focus

Canadian Junior Football League names Husker’s Bob Reist Coach of the Year

Reist spearheaded a remarkable turnaround for Chilliwack’s junior football franchise.

Philomusica Chorus presents lively concert A Calypso Christmas

Caribbean-themed Christmas concert set for Dec. 2 in Chilliwack

Fraser Valley Bald Eagle Festival explodes in popularity, draws thousands to Mission, Harrison Mills

Weather, news, social media contribute to high turnout, says president

VIDEO: E. coli outbreak linked to romaine lettuce sickens 18 people in Ontario, Quebec

The Canadian Food Inspection Agency says it’s working with U.S. authorities to determine the source of the romaine lettuce those who got ill were exposed to.

Feds give formal notice for law to end Canada Post strike

Trudeau government ready to legislate employees back to work after five weeks of rotating strikes

Lower Mainland suspect identified in fatal northern B.C. hit and run

Suspect and seven other individuals believed involved located on Haida Gwaii

‘Bait and switch’ warning ahead of Black Friday and Cyber Monday

Competition Bureau of Canada is warning shoppers of illegal sale tactics

Legal battle ahead for suspended B.C. legislature executives

Public removal ‘very unfair,’ says veteran clerk Craig James

B.C. sees biggest spike in homicides across Canada, at 34%

Much of the killing was attributed to gang violence, according to Statistics Canada

Sea lion tangled in rope on Vancouver Island

Marine debris is a ‘significant problem’ for marine wildlife

Postal strike affects charities at critical fundraising time

Canadian fundraising professionals and charities join call for fast resolution

$90,000 pen from space created by B.C man

The Space pen is made from a meteorite

Most Read