Prime Minister Justin Trudeau hit the trail to make a series of pre-budget announcements, mostly on housing, that left some wondering what was left to be said when theaccomplished that, projecting a shortfall of $40 billion for the 2023-24 year, slightly better than the $40.1 billion deficit projected in the fall economic statement .
Those economists, surveyed in March 2024, estimated real GDP of 0.7 per cent this year, “weighed down by the effects of past interest rate increases” and 1.9 per cent in 2025, the budget said.“With the level of GDP in 2024 and 2025 likely higher than expected in the budget, the deficits this year and next are likely to be smaller than projected,” St-Arnaud said.
“In a notable contrast to most of the budgets and fall fiscal updates since the pandemic, this one includes an attempt to raise funds rather than just spend them,” said Stephen Brown, deputy chief North America economist at Capital Economics Ltd.Other taxes were announced including a digital services tax and a global minimum tax of 15 per cent on the profits of large multinational corporations, which could lift revenues by $5.9 billion and $6.6 billion, respectively.
“Businesses have at least avoided the increase in corporate income taxes that was rumoured ahead of the budget,” Brown said, but he warned that raising taxes risks discouraging innovation and entrepreneurship. The former mayor of a township just outside Cornwall, Ont. — who resigned six months after he was charged with sexual assault and child luring in 2021 — died last month.According to an online obituary, Frank Prevost died of cancer on March 9. He was 56.In the summer of 2021, Ontario Provincial Police accused Prevost, then 53 and the mayor of South Glengarry, of sexually assaulting a man over several years, as well as three counts of child luring stemming from an undercover police operation.
Italian carmaker Alfa Romeo forced to rename ‘Italian sounding’ Milano model as right-wing government threatens carmaker with lawsuit weeks after trying to woo BYD
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