Freeland set to table 2024 federal budget in the House of Commons
Finance Minister Chrystia Freeland is finally set to present the federal budget in the House of Commons on Tuesday afternoon, showcasing how the government plans to win back support from disgruntled Canadians worried about the cost of living.
The Liberal government has already unveiled significant planks of the budget over the last few weeks during a campaign-style pre-budget tour aimed at drumming up attention for their agenda.
Prime Minister Justin Trudeau has pledged the upcoming spending plan will earmark billions of dollars to build more homes, expand child care, beef up the military and grow the country’s artificial intelligence capacity.
The government’s new housing measures are summarized in a 28-page document published Friday, which Trudeau called “the most comprehensive and ambitious housing plan ever seen in Canada.”
The prime minister promised it will build nearly 3.9 million homes by 2031.
Much of the budget is aimed at giving hope to younger Canadians who have come of age during a tumultuous economic era, Trudeau said on Monday, and “now feel like middle-class stability is out of reach.”
However, attention on Tuesday will likely shift to the government’s fiscal outlook and its plan to make up the difference between new spending and a pledge to keep the deficit at bay.
The Liberals, who have been intensely criticized by fiscal conservatives for their spending track record, are under particular pressure to limit spending right now.
With inflation still above the Bank of Canada’s target, deficit spending could keep price growth elevated and delay the central bank from cutting interest rates.
To alleviate these concerns, Freeland has promised the federal budget will abide by new fiscal guardrails presented in
Read more on globalnews.ca
