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

Giants hand Victoria their first lost of the season

Langley’s WHL team went head to head with the Royals for the second day in a row, beating them 3-2.

Langley Rugby women take out Bayside Sharks

Three-game home series at Langley playing field

TWU player turns in record-setting performance in Saturday win over Mount Royal

Seina Kashima ‘always a threat’ Langley university coach says

PHOTOS: Langley and Abbotsford Olympians Swim Club holds competition

Event at Walnut Grove pool first intra-club swim meet of the season

VIDEO: Rollover crash in Langley

At least one person suffered serious injuries

Secret supper clubs test appetite for cannabis-infused food ahead of legalization

Chefs are eagerly awaiting pot edibles to become legal in Canada

Students unhappy with SFU’s response after violent incident in class

Professor, students say a man threw chairs and hit a female student

Enbridge to begin building road to access pipeline explosion site in B.C.

An explosion Tuesday knocked out a 91-centimetre line

Man struck by car in Burnaby: reports

Pedestrian was taken to hospital

Andrew Scheer on revamped NAFTA deal: ‘I would have signed a better one’

Conservative leader says he wouldn’t have signed USMCA

Matheson will have NHL hearing after Canucks rookie Pettersson hit

The 19-year-old Swedish centre appeared woozy after the hit

Police looking into VPD-involved collision that sent 3 to hospital

The independent police watchdog has been notified

Police investigate after woman stabbed in Vancouver

Report came in about a ‘disturbance’ in the Killarney neighbourhood

GUEST COLUMN: A better way to manage B.C.’s public construction

Claire Trevena responds to Andrew Wilkinson on NDP union policy

Most Read