The Institute of Fiscal Studies and Democracy (IFSD) at the University of Ottawa conducted an assessment of each of the party platforms for overall fiscal credibility. They released their conclusions on Tuesday, April 22nd. This independent assessment and scoring was based on IFSD’s own platform assessment framework against three core principles and eleven sub-principles. The three core principles are:
- Use of realistic and credible economic and fiscal assumptions
- Responsible fiscal management
- Transparency
You can read the assessments in summary form here as published by Policy Magazine or go to: www.ifsd.ca
Summary of Results
As you can see, the IFSD scored the Liberal platform slightly higher than the Conservative one. It received an overall rating of “Good” while the Conservative platform received a “Pass” rating. The actual scoring across the three principle categories was 35/44 for the Liberals and 33.5/44 for the Conservatives.
Here are the individual measures and how each party scored:
| Principle | Sub-principle | Liberal | Conservative |
|---|---|---|---|
| Realistic and credible economic and fiscal assumptions | | 13 / 16 | 12.5 / 16 |
| Platform uses the latest PBO baseline economic and fiscal forecast | 3/4 | 3/4 | |
| Platform articulates economic challenges and corresponding measures. | 3.5/4 | 3.5/4 | |
| Platform articulates fiscal challenges and corresponding measures | 3.5/4 | 3.5/4 | |
| Platform accounts for global uncertainty and threats from the US. | 3/4 | 2.5/4 | |
| Responsible Fiscal Management | 11.5 / 16 | 11.5 / 16 | |
| Platform commitments are consistent with a defendable medium-term fiscal strategy and framework. | 3.5/4 | 2.5/4 | |
| Platform’s commitments maintain long-term fiscal sustainability | 3/4 | 3.5/4 | |
| The fiscal planning framework includes adequate provisions (prudence) for fiscal risks, economic risks, and unforeseen events. | 2/4 | 2/4 | |
| The fiscal planning framework contains fiscal room to address challenges to Canadian sovereignty. | 3/4 | 3.5/4 | |
| Transparency | 10.5 / 12 | 9.5 / 12 | |
| Platform provides economic and fiscal outlook for five years (2025-29) with details on key indicators, which incorporate the proposed policy measures | 3.5/4 | 3/4 | |
| Platform provides sufficient detail on the proposed measures. | 4/4 | 3.5/4 | |
| Platform provides a clear implementation plan for key policy measures | 3 /4 | 3/4 | |
| Total Score | 35 / 44 | 33.5 / 44 |
With relatively even scores across the principles and sub-principles (although important qualitative distinctions remain), the Liberals were stronger on Transparency. The Conservatives had a lower score on accounting for the impact of a US trade war, which brought their score down on the principle of Realistic and Credible Economic and Fiscal Assumptions. Both were weakest on Responsible Fiscal Management, particularly on providing for prudence in the face of fiscal, economic, and other risks.
The best score goes to IFSD for developing and applying this fiscal credibility assessment against the main parties’ platforms. Given the fiscal and economic challenges facing Canada, this type of independent public analysis is both welcome and needed. It provides a useful and timely contribution to help voters consider their democratic choice on election day.
Comparing the Fiscal Credibility of the Liberal and Conservative Party Platforms
