The federal budget was tabled Tuesday with the Liberals intent on spending 8.5-billion-dollars on housing initiatives.
Finance Minister Chrystia Freeland projects 3.87 million new homes will be built in Canada by 2031.
“We are moving with purpose to help build more homes faster,” said Freeland in her opening remarks in the House of Commons.
“We are making life cost less. We are driving the kind of economic growth that will ensure every generation of Canadians can reach their full potential,”
N-D-P Leader Jagmeet Singh says he has not decided yet whether his party will support the Liberal government’s federal budget.
He says the Liberals aren’t going far enough in the budget to address what he refers to as corporate greed, something he says is the reason for the high cost of living in Canada.
Elgin-Middlesex-London Conservative MP Karen Vecchio says the solutions outlined in the budget are too far down the road.
The budget includes 535-billion-dollars in total spending along with a 39.8-billion-dollar deficit.
Small and medium-sized businesses in Canada are set to receive about five years worth of carbon rebates, thanks to the federal budget.
The budget indicates 2.5-billion-dollars in rebates will be sent out as the Liberals continue to stand by their carbon pricing system, despite political pressure.
Vecchio advises that is an old promise.
More than 600-thousand businesses can expect to receive the money as a refundable tax credit later this year, provided their 2023 tax returns are filed by mid-July.
The almost 40-billion-dollar deficit is a major warning flag for Vecchio.
The government plans to spend 2-point-6 billion on measures to ease the cost of education and help create jobs.
The 2024 federal budget will provide “generational fairness” to younger Canadians by raising taxes on those who have already capitalized on Canada’s economic strengths, Freeland said as she tabled the document in the House of Commons.
