By Canadian Press

Budget office says federal spending on healthcare going up faster than planned

Mar 10, 2022 | 11:28 AM

OTTAWA – The parliamentary budget officer says federal spending on healthcare is set to rise over the next 12 months at a faster clip than the government had previously planned.

Federal health transfers are calculated to grow by at least three per cent each year, but the budget office says that healthcare transfers are set to rise by almost five per cent year-over-year.

The $2.1 billion increase will bring federal spending on healthcare to $45.2 billion in the coming fiscal year that starts in April.

Budget officer Yves Giroux’s report projects that annual federal spending on healthcare will reach $56.1 billion by 2027.

Recently released federal spending estimates show seniors’ benefits will increase by $6.7 billion, or 10.9 per cent, from the previous fiscal year, partly because of high inflation rates to which the value of payments are pegged.

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Total spending on old age security next year is projected to hit $68.3 billion and includes $740 million for a one-time payment to seniors who saw a clawback in benefits after they received emergency aid at the start of the pandemic.

(The Canadian Press)