OTTAWA — The parliamentary budget officer estimates in a new report that it will cost $17.9 billion to provide eight extra weeks of payments through the Canada Emergency Response Benefit.
The report Tuesday morning from budget officer Yves Giroux says that would bring the total cost of the benefit program to $71.3 billion.
The CERB, now budgeted at $60 billion, has paid out $43.51 billion to 8.41 million people as of June 4 as demand surges past federal expectations.
With the first cohort of CERB applicants set to hit the 16-week limit on the payments early next month, the Liberals have promised to increase the limit to 24 weeks to provide help through the summer for those that need it.
Giroux’s report says the additional cost to the program depends heavily on the outlook for the economy and jobs, as well as the course of the pandemic.
The report says further uncertainty over the final cost of the program rests on the actual takeup of the federal wage subsidy program, which the Liberals plan to retool.
8 week extension of the Canada Emergency Response Benefit (CERB) to cost $17.9 billion according to the Parliamentary Budget Officer.
$43 billion paid out to 8.4 million people as of June 4th.
— mike eppel (@eppman) June 23, 2020