Economy

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canada 2018 budget projections

Never has a government spent so much and accomplished so little.

Without the budget balancing itself, the 2015 Liberal platform went from a balanced budget in 2019 and have a $1 billion surplus to $18.1B projected deficit for 2018-19.

hanger over math

If the economy is strong and growing over the last two years, with Canadians creating more than half a million jobs, unemployment rate near 40-year lows, and our towns and cities are better, cleaner places to live.- why so much spending? 

Budget 2018: Highlights from the CBC

  • Finance Minister Bill Morneau has tabled his third budget. Here is a look at the highlights, new measures and key numbers:
    $21.5B in new spending over 6 years, including the fiscal year just ending.
  • $18.1B projected deficit for 2018-19 (including $3B for risk), falling to $12.3B by 2022-23.
  • $750M over 5 years to improve cyber security.
  • $231M over 5 years to address the opioid crisis, including $165M this year.
  • 5 weeks extra leave for two-parent families under the EI Parental Sharing Benefit (June 2019).
  • Legislation promised this year on federal pay equity - but no price tag yet.
  • $172.6M more over 3 years for clean drinking water on reserves.
  • $1.4B over 6 years in new funding for First Nations Child and Family Services.
  • $2B over 5 years in additional foreign aid under the Feminist International Assistance Policy.
  • $10M over 5 years for an RCMP unit to review 25,000 cases of sex assault deemed "unfounded."
  • $1.3B over 5 years to conserve land, waterways and wildlife and protect species at risk.
  • $100M over 5 years to develop rural broadband innovation, including low-earth-orbit satellites.
  • New judges - 6 for Ontario, 1 for Saskatchewan - and more money to help ease court backlogs.
  • $173M to address irregular border-crossings and asylum seekers.
  • $6M for a new process to hold federal leadership debates during election years.
  • $50M over 5 years to one or more independent organizations to support local journalism.
  • $30M over 3 years to promote women and girls' participation in sport.
  • Free admission for kids to national parks will be made permanent.
  • Creation of advisory council on implementing national pharmacare - but no money yet.

 

 Source: Government of Canada, CBC 

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