Federal departments and agencies are being told to start tightening their belts as the Liberal government looks for ways to pay for its latest budget promises while taking off political heat.
Finance Minister Chrystia Freeland released a budget in Ottawa on Tuesday that deepens Canada’s fiscal deficit as the Trudeau government books $43 billion (US$31.6 billion) in new costs over six years. New spending focuses on bolstering the health-care system, keeping up with the U.S. on clean-technology incentives, and helping low-income Canadians cope with inflation
A recent Statistics Canada survey, conducted between Oct. 21 and Dec. 4, 2022, found that more than one-third of Canadians were finding it difficult for their household to meet its financial needs within the previous 12 months.
Home construction in British Columbia will need to rise to unprecedented levels to offset the impact of record immigration on the housing market, the B.C. Real Estate Association said in a new report on Tuesday.
Finance Minister Chrystia Freeland plans to expand Canada’s investment subsidies for the oil and hydrogen sectors and allocate $2 billion (US$1.5 billion) to a fund for cutting emissions from heavy industry.
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