Budget Watchdog Says COVID-19 Wage Subsidy Might Cost Less Than Predicted

Canada's official fiscal watchdog says the federal wage subsidy program may cost more than $14 billion less than what the government estimated. Canada's Minister of Finance Bill Morneau speaks to media during a press conference in Toronto on July 17, 2020. The Canadian Press/Cole Burston

OTTAWA—Canada’s official fiscal watchdog says the federal wage subsidy program might cost $14 billion less than the government predicted.

A new report today by Parliamentary Budget Office analyst Ben Segel-Brown estimates subsidizing wages for companies during the COVID-19 pandemic will cost $67.9 billion through the end of December.