Estimated cost of warship fleet rises to $84B thanks to delays, inflation: PBO

Parliamentary Budget Officer Yves Giroux waits to appear before appearing at the Senate Committee on National Finance, Tuesday, October 25, 2022 in Ottawa. Giroux says delays and inflation are adding billions to the cost of building a new fleet of warships for the Royal Canadian Navy. THE CANADIAN PRESS/Adrian Wyld

OTTAWA - Parliament鈥檚 budget watchdog is predicting another increase in the cost of a new fleet of warships for the Royal Canadian Navy as delays and inflation add billions to what was already the most expensive military procurement in Canada鈥檚 history.

In a report released Thursday, Yves Giroux pegged the estimated cost of designing and building the 15 vessels at more than $84 billion 鈥 a nine per cent increase from the $77-billion estimate that the budget officer released in February 2021.

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