Friday, June 14, 2024

Ottawa sets its budget on April 19

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Maria Gill
Maria Gill
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This will be the first budget to introduce Chrystia Freeland as Finance Minister. (Image: Getty Images)

Deputy Prime Minister and Finance Minister Chrystia Freeland will present her federal budget on April 19. She announced this during the questions period in the House of Commons on Tuesday.

This will be the first federal budget in more than two years. So Canadians should have a better idea of ​​the pandemic’s fiscal impacts.

The last economic update in December recorded a deficit of $ 381.6 billion last year. Ms Freeland also promised an economic stimulus package that could reach $ 100 billion over three years.

But there was uncertainty about the actual deficit figure which, according to the government’s more pessimistic forecasts, would reach $ 398.7 billion.

The budget presentation can be accompanied by the disclosure of the economic recovery plan. Ms Freeland said last December that she would be representative of the “level of damage” in the Canadian economy.

Since economic modernization, provinces have imposed new restrictions accompanied by the shutdown of parts of their economies and the federal government expanded assistance programs for companies.

The vaccination campaign accelerated in the country, but it was not sufficient to stop the spread of variants or exclude the possibility of a third wave.

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