Liberals urged to cut old age security spending in upcoming budget

OTTAWA — Advocates are calling on the Carney Liberals to start with the biggest line item when deciding where to cut spending ahead of the upcoming federal budget.

Paul Kershaw, the head of generational fairness group Generation Squeeze , told reporters in Ottawa that the $80-billion Old Age Security (OAS) program desperately needed to be reined in, with federal spending hurtling toward a crisis point.

“(OAS) is now the single biggest driver of federal deficits. It costs $42 billion more than a decade ago and adds more to red ink than child care, than PharmaCare, than dental care, or defence,” said Kershaw.

Kershaw noted that the interim budget watchdog said in a recent committee appearance that the federal government was spending at an unsustainable rate.

Generation Squeeze is