{"id":1532,"date":"2019-10-03T00:00:00","date_gmt":"2019-10-03T00:00:00","guid":{"rendered":"http:\/\/webtransfer.loc\/2019\/10\/green-2019-platform-2\/"},"modified":"2024-07-30T06:23:07","modified_gmt":"2024-07-30T06:23:07","slug":"green-2019-platform-2","status":"publish","type":"post","link":"https:\/\/ifsd.ca\/fr\/2019\/10\/green-2019-platform-2\/","title":{"rendered":"IFSD Fiscal Credibility Re-Assessment : Green Party of Canada Platform 2019 Costing"},"content":{"rendered":"\n

IFSD finds that the Green Party\u2019s (revised) Platform Costing merits an overall \u2018pass\u2019 rating with a \u2018pass\u2019 on realistic economic and fiscal assumptions; a \u2018fail\u2019 rating with respect to responsible fiscal management; and a \u2018pass\u2019 rating with respect to transparency.<\/em><\/strong><\/p>\n\n\n\n

Information on the scoring framework is detailed in IFSD\u2019s\u00a0Assessment: Fiscal Credibility of 2019 Federal Election Platforms<\/a>.<\/em><\/p>\n\n\n\n

\"Overall<\/figure>\n\n\n\n

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The Green Party of Canada released a revised<\/strong> Platform 2019 Costing document on October 2, 2019. This document followed the initial release of a costing document on September 25, 2019 and a policy commitments document (Election Platform 2019 – Honest, Caring, Ethical Leadership) on September 15, 2019.<\/p>\n\n\n\n

The Institute of Fiscal Studies and Democracy (IFSD) assesses the fiscal credibility of election platforms of the major parties according to three principles:<\/p>\n\n\n\n

    \n
  1. Use of realistic and credible economic and fiscal projections;<\/li>\n\n\n\n
  2. Responsible fiscal management;<\/li>\n\n\n\n
  3. Transparency.<\/li>\n<\/ol>\n\n\n\n

    The principles and scoring criteria are detailed in IFSD\u2019s assessment framework<\/a>.<\/p>\n\n\n\n

    IFSD originally reviewed the Green Party\u2019s first platform costing<\/a>. \u00a0IFSD finds that the revised <\/strong>Green Party Platform Costing merits an overall \u2018pass\u2019 rating. It is a significantly improved document from the earlier release. From a voter perspective, there is a clearer picture of the baseline assumptions and articulation of economic and fiscal challenges and uncertainties associated with the Green Party\u2019s Platform. The revised costing makes significant use of the Office of the Parliamentary Budget Officer\u2019s (PBO) costings which are identified and linked in the costing document.<\/p>\n\n\n\n

    While the Green Party earns a \u2018pass\u2019 rating on both realistic assumptions and transparency, the revised costing receives a \u201cfail\u2019 rating on responsible fiscal management. The fail rating is a difficult and challenging assessment.<\/p>\n\n\n\n

    The Green Party has an ambitious agenda with significant resources set aside for pharmacare, education, infrastructure, the environment and to addressing challenging elements of Canada\u2019s history. The platform is ambitious relative to the platforms of other parties.  <\/p>\n\n\n\n

    The Green Party\u2019s revised costing\u2019s fiscal strategy is based on a medium-term balanced budget objective and a PBO pre-election fiscal outlook. To pay for the large proposed outlays, fundamental changes are proposed to the tax system \u2013 new taxes related to wealth, financial transactions, banks and the taxation of e-commerce; the elimination of capital gains deductions; and an historic one time increase in corporate taxes.<\/p>\n\n\n\n

    While there is significant uncertainty associated with the costing of individual tax measures, this uncertainty (economic and fiscal) is magnified when all of these measures are combined and implemented over the short-term. While the Green Party highlights risk related to the implementation of these measures, there are no contingency plans or prudence adjustments to raise confidence in the medium-term fiscal objective of a balanced budget. We also note that there is a double counting of savings in the revenue raising measures (bank taxation and corporate tax increases) that would undermine the balanced budget objective. For these reasons we find the Green Party\u2019s revised platform costing to be based on clear assumptions, that are relatively transparent but which are not defensible from a medium-term fiscal strategy perspective given the enormous levels of uncertainty.<\/p>\n\n\n\n

    \"Principle<\/figure>\n\n\n\n

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    \"Principle<\/figure>\n\n\n\n

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    \"Principle<\/figure>\n\n\n\n

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    La version fran\u00e7aise sera disponible prochainement. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

    The Green Party of Canada released a revised Platform 2019 Costing document on October 2, 2019. This document followed the initial release of a costing document on September 25, 2019 and a policy commitments document (Election Platform 2019 – Honest, Caring, Ethical Leadership) on September 15, 2019.<\/p>\n