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

Langley East MLA could testify in logging lawsuit

Rich Coleman has been put on the witness list for a lawsuit against TimberWest.

WATCH: Kwantlen artist paints and installs Indigenous mural in Fort Langley

First Nations painter Brandon Gabriel created a piece of art for Cranberries Naturally.

Surrey woman plans to travel after winning $500,000

Frances Jarvos bought her winning ticket at Willowbrook Mall in Langley

New Langley resident takes to the stage in upcoming musical

Leah Newson is performing in Annie: The Musical in Burnaby starting Feb. 1.

Day 3 brings fourth win for the Langley-based Team BC

Tyler Tardi and squad plays two games Tuesday at the junior curling nationals in Saskatchewan.

UPDATE: B.C. legislature managers accused of excessive travel, personal expense claims

Clerk Craig James, security chief Gary Lenz call allegations ‘completely false’

B.C. man fined $10,000 after leaving moose to suffer before death

Surrey man was convicted last week on three Wildlife Act charges

‘Blue Monday’ isn’t real, but depression can be

CMHA encourages people to prioritize their mental health

South Surrey mother didn’t have the intent to kill her daughter: defence

Closing submissions in case of Lisa Batstone underway

Anti-pipeline group wants NEB to consider impact of emissions, climate change

Stand.earth filed NEB motion asking to apply same standard to the project as it did with Energy East pipeline

B.C. man charged in 2014 snake venom death of toddler

Henry Thomas was taking care of the North Vancouver girl the day before she died

Parole granted for drunk driver who killed B.C. RCMP officer

Kenneth Jacob Fenton will be able to attend alcohol abuse treatment, nearly three years after crash that killed Const. Sarah Beckett

B.C.’s largest public-sector union wants inquiry into money laundering, drugs

Union officials say Premier John Horgan and Attorney General David Eby have not ruled out the possibility of a public inquiry

Aldergrove soccer tournament set for March 30-31

2019 edition of the Barry Bauder Memorial Soccer Tournament taking registrations

Most Read