Parliamentary Budget Officer Yves Giroux waits to appear before appearing at the Senate Committee on National Finance in Ottawa on Oct. 25, 2022.The parliamentary budget officer says a single-payer universal drug plan would cost the federal and provincial governments $11.2 billion in the first year, and $13.4 billion in five years.
The PBO’s report released today provides an estimate for the cost of a pharmacare program between 2024-25 and 2027-28. It calculates the incremental cost of the program, taking into account current spending by governments on public drug plans as well as revenue that would be generated from co-pays under a pharmacare plan.The PBO’s report finds that while the public sector would spend more on drugs, the implementation of a pharmacare plan would lead to economy-wide savings.
Source: Financial Digest (financialdigest.net)
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