New GST Credit to Cost $12.4 Billion Over 6 Years: Budget Watchdog

A woman pushes a shopping cart through the produce section of a grocery store in Toronto, on Nov. 22, 2022. Carlos Osorio/Reuters

Ottawa’s plan to increase the GST credit and offer a one-time payment to Canadians is projected to cost more than $12 billion over a span of six years, according to the Parliamentary Budget Officer.

The Office of the Parliamentary Budget Officer (PBO) released a report on Feb. 2 predicting the program announced last month by Prime Minister Mark Carney will incur a cost of $12.4 billion from fiscal year 2025-2026 to 2030-2031.