CAD Annual Budget Release
Domestic government spending and borrowing levels can have a significant impact on the economy - increased spending generates work for contractors and creates jobs, while borrowing levels impact the nations credit rating and provide insight into the nation's underlying fiscal position;
This document outlines the Federal government's budget for the year, including expected spending and income levels, borrowing levels, financial objectives, and planned investments;
- History
Expected Impact / Date | Description |
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Apr 16, 2024 | |
Mar 28, 2023 | |
Apr 7, 2022 | |
Apr 19, 2021 | |
Nov 30, 2020 | |
Mar 19, 2019 | |
Feb 27, 2018 | |
Mar 22, 2017 | |
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- CAD Annual Budget Release News
Canada’s decision to increase capital gains taxes was criticized by businesses who warned the move would only exacerbate the country’s investment and productivity woes. In a bid to raise billions of dollars to help pay for policies to correct a housing crisis which has turned off younger voters, Finance Minister Chrystia Freeland announced the government will tax Canadian companies on two-thirds of capital gains, up from half currently. The change will also apply to individual taxpayers with annual gains over C$250,000 ($181,000). ...
Spend like there's no tomorrow, tax like there is: • Canada’s federal Finance Minister tabled Budget 2024 on April 16th. Gross new spending measures were substantially higher than signalled ahead of budget day, with equally substantial taxation measures partially offsetting the net impact. • The budget adds a near-term boost to growth with major new spending, but it introduces another twist as it gives with one hand while taking with the other. While net new spending amounts to 0.4% f GDP over the next two years, gross outlays to ...
A fair chance to build a good middle class life—to do as well as your parents, or better—that’s the promise of Canada. For too many, especially for younger Canadians, that promise is at risk. We have a plan to fix that. We have a plan to build a Canada that works better for you, where you can get ahead, where your hard work pays off, where you can buy a home—where you have a fair chance at a good middle class life. First, we’re building more affordable homes. Because the best way to make home prices more affordable is to increase supply—and quickly. That’s why we’re cutting red tape and reforming zoning. We’re building more apartments and affordable housing across the country and unlocking public lands and vacant government offices to build homes for Canadians. For Millennial and Gen Z renters, we’re restoring the chance to make progress towards homeownership. We’re creating more tax-free ways to save for your first down payment. We’re giving renters credit for rental payments, so when it comes time to apply for that first mortgage, you’ll have a better chance of qualifying. post: CANADA BUDGET SEES REAL GDP GROWTH OF 0.7% IN 2024 VS 0.5% IN NOVEMBER, 1.9% IN 2025 VS 2.2%, 2.2% IN 2026 VS 2.4%, 2.1% IN 2027 VS 2.2%. post: *CANADA TO INCREASE CAPITAL GAINS TAX ON FIRMS, INDIVIDUALS
Canada’s federal Finance Minister delivers her annual budget on April 16th. Nominal economic growth has been substantially stronger than the official outlook last Fall but the misses are narrowing. Scotia Economics projects nominal growth 1.5 ppts higher in 2024 relative to the Fall update, albeit with some pull-forward from 2025. The net impact would still see output levels 1.2% higher at the end of 2025. Otherwise, there has been little change to near-term inflation and interest rate outlooks, though long term rate risk may be ...
The federal government needs to start placing a bigger focus on long-term growth for Canada, according to a former deputy leader of the Conservative Party of Canada. In an interview with BNN Bloomberg on Wednesday, Lisa Raitt, co-chair of Coalition for a Better Future, vice-chair of global investment banking at CIBC Capital Markets and former natural resources minister, said she’s concerned about Ottawa’s plans for long-term growth in Canada. “There's a lot of concern in Ottawa, we came together in something called the Coalition for ...
Prime Minister Justin Trudeau’s government is pumping billions of dollars into clean energy subsidies and health care, despite a gloomy forecast of slow economic growth and weaker tax revenue. The federal budget released Tuesday aims to jump-start an energy transition that will, over time, generate new growth and help offset the steep cost of the subsidies. But Finance Minister Chrystia Freeland is also proposing to run larger deficits at a time many economists are still concerned about high inflation and the prospect of a recession. ...
Canada has made a remarkable recovery from the COVID recession. The strongest economic growth in the G7 over the last year. 830,000 more Canadians employed than before the pandemic. Near-record low unemployment. A record 85.7 per cent labour force participation rate for Canadian women in their prime working years, supported by our Canadawide system of affordable early learning and child care. Inflation has fallen for eight months in a row, and the Bank of Canada predicts that it will fall to just 2.6 per cent by the end of the year. With these strong economic fundamentals, Budget 2023 comes at an important moment for our country—and at an important moment for the world. In the near-term, we must contend with a slowing global economy, elevated interest rates around the world, and inflation that is still too high. In the months and years to come, we must seize the remarkable opportunities for Canada that are presented by two fundamental shifts in the global economy: the race to build the clean economies of the 21st century, and our allies’ accelerating efforts to friendshore their economies by building their critical supply chains through democracies like our own. Budget 2023 is a direct response to these essential challenges, and it delivers: post at 4:06pm: ACCORDING TO THE CANADA BUDGET, THE TOTAL NET COST OF NEW POLICY ACTIONS IMPLEMENTED SINCE THE NOVEMBER 22 FISCAL UPDATE UNTIL THE END OF THE FISCAL YEAR 2027/28 WILL BE C$43.0 BILLION. post at 4:05pm: CANADA'S BUDGET ANTICIPATES A C$35.0 BILLION DEFICIT IN 2024/25, A C$26.8 BILLION DEFICIT IN 2025/26, A C$15.8 BILLION DEFICIT IN 2026/27, AND A C$14.0 BILLION DEFICIT IN 2027/28. post at 4:06pm: ACCORDING TO THE CANADA BUDGET, PRIVATE SECTOR ECONOMISTS PREDICT A SHALLOW RECESSION IN 2023. post at 4:07pm: THE CANADIAN BUDGET FORECASTS 0.3% REAL GDP GROWTH IN 2023, 1.5% IN 2024, 2.3% IN 2025, 2.2% IN 2026, AND 1.9% IN 2027.
Canada’s Federal 2022–23 Budget unleashes more spending, masked by major revenue windfalls and new revenue-raising measures. • New spending measures tally $56.6 bn by FY27, ticking off the boxes on many of the Liberals’ election pledges on housing, healthcare, and green investments, along with some under the recent Liberal-NDP pact including a national dental care program (though there is a notable absence of pharmacare). • Revenue windfalls since the Fall Update amount to a whopping $85.5 bn by FY27. Meanwhile, new revenue-raising ...
Released on Apr 16, 2024 |
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Released on Mar 28, 2023 |
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Released on Apr 7, 2022 |
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