Saturday, May 15, 2010

Potential Liberal Policy: Enhanced Budgetary Transparency

In light of the upcoming Liberal Policy Convention in Vancouver I will be posting potential policy proposals for criticism. All comments are welcome and encouraged.


POLICY RESOLUTION – Enhanced Budgetary Transparency

WHEREAS the Liberal Party recognizes accurate budgets are necessary for prudent financial management and the appropriate planning of social program spending;

WHEREAS the Liberal Party recognizes the importance of the Parliamentary Budget Officer to provide independent analysis to Parliament on the state of the nation’s finances, the government’s estimates and trends in the Canadian economy;

WHEREAS to accurately review the planned federal budget, the Parliamentary Budget Officer must view the Department of Finance’s assumptions that are used to translate the private sector economic forecast into fiscal projections;

BE IT RESOLVED that the Liberal Party encourage the Government of Canada to enhance overall transparency of the Government’s forecasting process by providing the Parliamentary Budget Officer with assumptions used by the Department of Finance in the translating of the private sector economic forecasts into the fiscal forecast.

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This policy is thought to be needed in light of the recent difference in budget forecasts between the Finance Minister and the Parliamentary Budget Officer.

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